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Triumph In The News

TRIUMPH #2 SBA LENDER THIRD STRAIGHT YEAR

In a recent story in The Commercial Appeal, Triumph Bank was ranked as the #2 SBA lender in Shelby County for the 12-month period ending September 30, 2012.

The October 7, 2012 story, SBA Lending up Nearly 13 Percent in Shelby County, listed Triumph Bank as #2, having made $8.4 million in SBA loans to #1 ranked Magna Bank’s $11.9 million. The story centered around the 12.7 percent increase in SBA loans made to Shelby County businesses for the SBA’s 2012 fiscal year, October 1, 2011 through September 30, 2012, and focused only on total dollar volume. Triumph Bank actually ranked #1 In total SBA loans made for the same period.

Triumph CEO and President, Will Chase, was referenced in the story as describing one possible reason for this increase. Specifically, that SBA loan guarantees can be used as a credit enhancement for borrowers who are close to qualifying for a loan but need a longer term, a smaller down payment or extra collateral. He was also referenced as saying that some small business customers are still cautious, but that he remains optimistic that loan demand will strengthen for fiscal 2013 as owners gain more certainty about healthcare costs and taxes.

“Small businesses in Shelby County are an integral part of Triumph’s customer base and success since we opened in 2006,” Chase said, commenting on the story. “This segment is not only important to Triumph Bank, supporting small business is crucial to how we grow as a community.”

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