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Connecticut bank expands into SBA lending after sponsor-bank gains

Original: Heartened by sponsor-bank success, a Connecticut bank eyes SBA CEO Jason Hardgrave said Small Business Administration le

DR Bank, a Connecticut bank, is moving into Small Business Administration lending, encouraged by the success of its sponsor-bank business. SBA administrator Jason Hardgrave said the lending is a natural extension of the bank's existing sponsor-bank operations, signaling a strategic broadening of the bank's small-business finance offerings.

Why now: The bank's expansion into SBA lending highlights growing interest among community banks in extending government-backed small-business credit programs.

DR BankSmall Business AdministrationJason HardgraveConnecticut

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Evidence

• Heartened by sponsor-bank success, a Connecticut bank eyes SBA CEO Jason Hardgrave said Small Business Administration lending is a natural extension of DR Bank's sponsor-bank business line. https://www. americanbanker.com/news/hearte… · AlexJimenez@mas.to

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