BOISE, Idaho, Oct 28, 2003 (BUSINESS WIRE) -- U.S. Bank in Western Idaho has
been named the Small Business Administration (SBA) 504 Lender of the Year by
Capital Matrix, the regional certified development company serving southwestern
Idaho and eastern Oregon. The award singles out the group of professional
bankers who are consistently among the top SBA 504 producers in the Boise market
from Sept. 1, 2002 through Aug. 31, 2003.
"This is quite an honor for U.S. Bank and speaks volumes about our commitment to
bringing more businesses into the community," said Ridgley Denning, vice
president and senior relationship manager at U.S. Bank. "We're very proud to
have been recognized by Capital Matrix as a leader in the small business
administration loan market."
Established by the U.S. Small Business Administration, the SBA 504 loan program
offers small businesses long-term financing at affordable fixed interest rates.
Small business owners can use the 504 loan option to purchase land, buildings or
equipment as well as make building improvements. Under the program, a bank or
financial institution will lend up to 50 percent of the project cost, Capital
Matrix will lend up to 40 percent and the business owner provides a minimum of
10 percent toward the project's cost.
U.S Bank was recognized by Capital Matrix for financing ten projects through the
SBA 504 program valued at more than $9.5 million. The bank was also nominated
for their outstanding customer service in recognizing how the SBA 504 benefits
customers and when the loan can make a difference in financing commercial real
U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). With assets of $195
billion, U.S. Bancorp is the 8th largest financial services holding company in
the United States. The company operates 2,199 banking offices and 4,575 ATMs,
and provides a comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses and
institutions. U.S. Bancorp is home of the Five Star Service Guarantee which
assures customers of certain key banking benefits and services or customers will
be paid for their inconvenience. Visit U.S. Bancorp on the web at usbank.com.
SOURCE: U.S. Bank
CONTACT: U.S. Bank
Karen Greenwood, 612-303-0731
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SOURCE: U.S. Bank