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  • Centreville Bank Named a Top SBA 504 Third-Party Lender



    Centreville Bank has been named by the U.S. Small Business Administration (SBA) as a top lender to small businesses for SBA 504 loans in Rhode Island.
     
    “We are honored to receive this award and so very proud to work alongside the Small Business Administration in helping Rhode Island businesses attain their goal of owning their own business property or expanding their business capacity,” said Leland Merrill, executive vice president, chief lending officer for Centreville Bank. “Small businesses are vital to our communities and essential to a thriving, local economy. We’re proud of our team of commercial lenders, all of whom are committed to offering business owners a full suite of products to help them launch, operate and expand their business.”
     
    The SBA issues its rankings annually based on the number of loans originated by banks in the SBA fiscal year, which ran from October 1 to September 30, 2022. Centreville was the top banking SBA 504 lender in terms of gross dollar amount with 12 loans totaling $10,050,500 million. The SBA 504 program provides up to 90 percent financing for the purchase of long-term fixed assets, such as commercial real estate, buildings and equipment.
     
    About Centreville Bank
    Founded in 1828 and headquartered in West Warwick, Rhode Island, Centreville Bank is a full-service mutual bank operating through eleven Rhode Island locations in Coventry, Cranston (two locations), East Greenwich, Middletown (loan office), Narragansett, North Kingstown, Providence (loan office), West Greenwich, Warwick, and West Warwick. In addition, Centreville Bank serves the Eastern Connecticut market with seven branches located in Danielson, Gales Ferry (Ledyard), Griswold, Norwich, Plainfield, Pomfret and Putnam. Centreville currently has total assets of $2 billion. For more information, please visit www.centrevillebank.com.

     

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