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HSBC Bank USA wins Small Business Administration plaudit
02 November 2005
HSBC Bank USA, North America, has been named top Small Business Administration (SBA) lender in New York State for the third consecutive year.
The bank was top SBA lender by both number of loans and dollar volume for the 2005 SBA fiscal year, making 1,843 SBA-approved loans in the state for a total of $138 million during that period.
HSBC is also top for loans and dollar volume in the highly competitive New York City market, and is the eighth largest lender nationally.
Brendan McDonagh, chief operating officer of HSBC Bank USA, N.A., said HSBC recognises the powerful impact small businesses have on their local economies. “This ranking is especially meaningful because we have made small business lending a priority,” he added.
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