MADISON, Wis.— Summit Credit Union has been awarded the 2020 Wisconsin Small Business Administration (SBA) Lender Award by the SBA.
This is the 10th consecutive year Summit has won the award, which is given to the credit union with the most approved 7(A) small business loans in Wisconsin.
“The past year has been especially hard on many small businesses, and Summit acted quickly with loan deferral programs and participation in the SBA’s Paycheck Protection Program to support the businesses and their employees,” said Summit Credit Union CEO & President Kim Sponem. “The impact we made by helping 1,400 businesses and keeping their employees receiving a paycheck was very rewarding.”
Summit said its business development officers help business owners find the right type of SBA loan for each business.
In addition to this award, Summit was also Wisconsin’s top credit union lender during the first installment of the SBA’s Payment Protection Program (PPP) in 2020. Summit worked with local businesses to access more than $58 million through 1,395 approved loans in the first round of PPP and is actively participating in the second round of PPP lending currently underway.