Also serving the communities of De Luz, Rainbow, Camp Pendleton, Pala and Pauma

CNB ranks sixth in nation in SBA 504 Lending

Community Bancorp, Inc. (NASDAQ:CMBC), parent company of Community National Bank (“Community”) announced today that Community ranked 6th in the nation in SBA 504 lending for 2004 based on the dollars lent in the first trust deed position, according to the Coleman Report, a nationally recognized advocate and publisher of information for the government-guaranteed lending industry. A long-term financing tool for economic development within a community, SBA 504 loans must be used for fixed asset projects only, such as land and buildings.

“Our success in this specialized field of SBA lending is a testament to the knowledge, professionalism, and experience of our employees, led by Jordan M. Blanchard, Senior Vice President and Manager of the department and a 15-year veteran in the 504 arena,” stated Michael J. Perdue, president and CEO. “We are especially gratified that this level of 504 production in fact places us as the number one community bank in the nation and we achieved this national ranking in less than two years from the time the division was established,” added Perdue.

 

Reader Comments(0)