Meridian Bank Ranked Top SBA Lender

Rhea-AI Summary

Meridian Bank (MRBK) ranks as a top lender in the SBA's Eastern Pennsylvania District, securing first place in dollar volume and third in the total number of SBA 7(a) loans in fiscal year 2023. Meridian provided $128.8 million in 7(a) lending through 138 loans, marking a consistent increase over the past four years. The bank also ranks third in New Jersey and 47th in the nation by volume. Rocco Perate, Executive Vice President, SBA Lending, attributes this success to the bank's entrepreneurial spirit, dedicated team, and commitment to understanding small businesses' needs.

MALVERN, Pa., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Meridian Bank (Nasdaq: MRBK) has been ranked a top lender in the Small Business Administration’s Eastern Pennsylvania District.

Meridian Bank placed first in dollar volume and third in the total number of SBA 7(a) loans in the most recent SBA fiscal year 2023 (10/1/2022-9/30/2023). During that period, Meridian provided $128.8 million in 7(a) lending through 138 loans, continuing a steady increase over the past four years. This also ranks Meridian as the third lender in New Jersey in volume and number of loans, and the 47^th lender in the nation by volume.

Meridian’s SBA Lending Team is led by Rocco Perate, Executive Vice President, SBA Lending. Perate states, “The fact that Meridian ranks so high in number of loans and is the top SBA lender in terms of dollars is a credit to our entrepreneurial spirit, our dedicated team of experts, our commitment to SBA and our deep understanding of the needs of small businesses in our region.”

Perate and his team are headquartered in Meridian’s center city office at 1760 Market Street, and can be reached at sba@meridianbanker.com.

About Meridian Corporation
Meridian Bank, the wholly owned subsidiary of Meridian Corporation, is an innovative community bank serving Pennsylvania, New Jersey, Delaware, Maryland and Florida. Through more than 20 offices, including bank branches and mortgage locations, Meridian offers a full suite of financial products and services. Meridian specializes in business and industrial lending, retail and commercial real estate lending, electronic payments and wealth management solutions through Meridian Wealth Partners. Meridian also offers a broad menu of high-yield depository products supported by robust online and mobile access. For additional information, visit our website at www.meridianbanker.com. Member FDIC. Equal Housing Lender.

Contact: Christopher J. Annas
484.568.5001
CAnnas@meridianbanker.com

 

FAQ

How did Meridian Bank rank in the SBA's Eastern Pennsylvania District?

Meridian Bank (MRBK) secured first place in dollar volume and third in the total number of SBA 7(a) loans in fiscal year 2023.

What was the total 7(a) lending provided by Meridian Bank?

Meridian Bank provided $128.8 million in 7(a) lending through 138 loans in fiscal year 2023.

Who leads Meridian Bank's SBA Lending Team?

Rocco Perate, Executive Vice President, SBA Lending, leads Meridian Bank's SBA Lending Team.

Where is Meridian Bank's SBA Lending Team headquartered?

Meridian Bank's SBA Lending Team is headquartered in the center city office at 1760 Market Street.

How can one reach Meridian Bank's SBA Lending Team?

Meridian Bank's SBA Lending Team can be reached at sba@meridianbanker.com.