Bank is top SBA lender for intermediate banks in district for third consecutive year

The U.S. Small Business Administration has recognized Sonabank as the top SBA lender for intermediate banks in the SBA's Richmond District Office for fiscal year 2017 (10/1/16 to 9/30/17). During this time period, Sonabank made 65 SBA loans totaling $23,588,000.

This marks the third consecutive year that Sonabank has won the district's top intermediate* lender award. The Richmond District Office covers most of the Commonwealth except for some parts of Northern Virginia.

In addition, Sonabank was designated as the second highest SBA lender of 105 banks that made SBA loans in the Richmond District Office during the same time period. Only Wells Fargo, which falls under the SBA's designation of a major bank because it has more than $3 billion in assets, made more SBA loans (92) during that time period.

"It's an honor to partner with the SBA in order to help small businesses increase their access to capital so they can grow and be successful," said Marie Taylor Leibson, Senior Vice President for Commercial Lending at Sonabank. "We have a very experienced in-house team of SBA lenders and many of us have worked together for 15-20 years at Sonabank and its predecessors."

Leibson noted that her team's longevity and extensive track record with SBA lending provide many benefits for commercial borrowers. "Since we have been designated as a preferred SBA lender, we have the authority to approve loans ourselves. This greatly reduces the turnaround time for our customers," she said. Most of all, Leibson enjoys meeting the small business owners and learning about their dreams. "Each day brings new clients with new ideas, which fuels our commitment to small businesses and our communities," she added.

For Teri Tosti, Vice President and Commercial Relationship Team Leader at Sonabank, small business loans comprise a large percentage of her loan portfolio. "Because many of our team members have grown up in this business, we've earned the trust of the SBA," she said. "That enables us to act quickly when small- to medium-sized businesses need an SBA loan to hire employees, purchase equipment or upgrade technology, among many other purposes."

In his role as a volunteer mentor for Richmond SCORE (Service Corps of Retired Executives), Doug Carleton provides free advice, consultation and training to small businesses. Over the years, he has been impressed with the expertise and the can-do spirit of the SBA lenders at Sonabank. "They know what they are doing and they want the business," he said. "Sonabank's team is very collaborative and they work hard to find a creative solution that will result in financing for a small business."

"All of us at Sonabank are very honored to be recognized by the U.S. Small Business Administration for our SBA lending activities in FY17," said Joe A. Shearin, CEO of Sonabank. "We plan to continue our support of small businesses with quarterly SBA seminars and other programs to demonstrate that we are big believers in their companies."