Cambridge, MA – Cambridge Savings Bank has been named the Small Business Lender of the Quarter by the United States Small Business Administration (SBA) for the third quarter of the fiscal year 2016. This recognition comes on the heels of Cambridge Savings Bank being named SBA’s “#1 Lender to Women Entrepreneurs” in Massachusetts for fiscal year 2015.

The award was presented to Cambridge Savings Bank for their excellent SBA activity for the quarter by executives from the U.S. Small Business Administration on August 11, 2016 at the Bank’s branch office located in Arlington Center.

“The MA SBA is honored to present the Lender of the Quarter award to Cambridge Savings Bank for the 3rd Quarter of 2016,” said Robert Nelson, Massachusetts SBA District Director. “Cambridge Savings continues to deliver on its commitment to small business with the help of SBA and our programs, and their activity for the quarter was significant when compared to its peers across the Commonwealth. Congratulations to the small business lending team at the bank!”

During the third quarter, CSB had 19 SBA loan approvals in Massachusetts, for a total of 37 SBA loan approvals, making them the 9th most active lender, out of 131 lenders. “We are honored to receive the designation of Lender of the Quarter,” said David Cedrone, Head of Residential, Consumer, and Small Business Lending at Cambridge Savings Bank. “We understand the importance of local small business growth and want to do our part to see new businesses continue to open and existing businesses continue to grow, because ultimately, a stronger small business community results in more job opportunities and stimulation for economic growth in our community.”

Cambridge Savings Bank is a preferred SBA lender and also participates in the Federal Home Loan Bank of Boston’s Jobs for New England program, which offers members like Cambridge Savings Bank interest-rate subsides to provide low-cost loans to small businesses to create jobs and stimulate local economic growth. 

Cambridge Savings Bank

Cambridge Savings Bank is a full-service financial institution with approximately $3.2 billion in assets that is committed to improving the quality of life in the communities it serves. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has 17 branches located in Cambridge, Acton, Arlington, Bedford, Belmont, Burlington, Concord, Lexington, Newton and Watertown. www.cambridgesavings.com

Small Business Administration

The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers  its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. www.sba.gov

About the Federal Home Loan Bank of Boston

The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.