St. Paul, Minn. | August 27, 2024 – Drake Bank is honored to announce that it has been recognized by the U.S. Small Business Administration (SBA) as the top lender in Minnesota for financial institutions with assets below $250 million. This award highlights Drake Bank’s dedication to empowering small businesses and promoting economic growth within the community. Drake Bank is one of 10 lenders that will be recognized at the Minnesota Small Business Lenders Conference on September 12, 2024, in Bloomington, MN. This annual conference gathers lending professionals from across the state to celebrate achievements and share best practices in small business financing.
“SBA lenders play a vital role in helping small businesses across the state start, grow, and expand,” shared SBA Minnesota district director Brian McDonald. “Small businesses have the option of a number of local lenders who administer SBA loans ranging from $500 – $5 million, meaning there is a lender for all stages of their entrepreneurial journey. We are thrilled to celebrate these lenders who are funding businesses that employ, inspire, and provide vital goods and services to Minnesotans.”
Drake Bank’s recognition is based on its outstanding participation in SBA-backed loan programs, which are essential tools for reducing risk while providing critical capital to small businesses. The Bank is committed to its mission of building a better future for small businesses at every stage of their journey.
“The SBA option is a necessary and effective product to help our bankers find a ‘path to yes’ for our clients,” said Greg Larson, CEO and President of Drake Bank. “The SBA is a key partner in our journey to build a better future for everyone in our community. Our team is honored to be recognized by the SBA for our commitment to small business success, and we are excited to continue our partnership with the SBA.”
For more information about Drake Bank’s small business loan program, visit drake-bank.com or contact Lisa Franxman.
Drake Bank is a purpose-driven, independent community bank in St. Paul. Founded in 2002, the Drake team focuses on building authentic relationships and building a better future for the local communities. Drake team members work individually with each client to provide business, consumer, cash management, and mortgage services to help them reach their goals. Outside of the Bank’s traditional banking services, it partners with mission-aligned financial technology companies to expand its mission to other communities. Start building a better future. Learn more at drake-bank.com.
