MALVERN, PA — Meridian Bank (Nasdaq: MRBK) has secured its position as a leading lender for the Small Business Administration’s (SBA) Eastern Pennsylvania District. The bank came in first in terms of dollar volume and third in the total number of SBA 7(a) loans during the most recent SBA fiscal year 2023 (10/1/2022-9/30/2023).
During this period, Meridian provided an impressive $128.8 million in 7(a) lending through 138 loans, demonstrating a consistent increase over the past four years. This performance also places Meridian as the third lender in New Jersey in both volume and number of loans, and the 47th lender nationally by volume.
The success of Meridian’s SBA lending is attributed to the dedicated efforts of their SBA Lending Team, led by Rocco Perate, Executive Vice President, SBA Lending. Perate attributes the high rankings to their entrepreneurial spirit, expert team, commitment to the SBA, and a deep understanding of the needs of small businesses in their region.
Perate and his team operate from Meridian’s center city office at 1760 Market Street, Philadelphia.
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