CapitalMark Bank & Trust ranks number 16 in the nation for highest growth in qualified small business lending out of a field of 281 Small Business Lending Fund bank participants. The SBLF program is a component of the Small Business Jobs Act established in 2010 to encourage banks with assets under $10 billion to increase lending to small businesses. Only 41% of banks that applied to participate in the program were selected based on asset size and positive indicators of strength, stability and performance.
CapitalMark’s Chairman, President and Chief Executive Officer R. Craig Holley stated, “We are pleased to have been selected to participate in the SBLF program. Our Banker Teams recognize the vital role small businesses play in the community and economy. With access to capital, small businesses can invest in and expand their operations creating jobs and stimulating growth.”
As one of seventeen banks in the state selected to participate, CapitalMark was granted $18.2 million and began successfully deploying SBLF capital in 2011. SNL reported that on a median basis, the SBLF banks grew qualifying small business loans by 46.33% over the baseline. CapitalMark grew its portfolio 139.46% over the baseline to $322.2 million as of June 30, 2014. Qualified small business loans under the SBLF are loans under $10 million to businesses with less than $50 million in revenue annually.
Banking Group President Kenny Dyer added, “CapitalMark’s model is dedicated to delivering an enhanced client experience for small businesses and their owners. Participating in the fund was a natural fit, and we’re pleased with the strong results.”
CapitalMark currently has 10 Banker Teams and 21 bankers serving East Tennessee and was recently awarded its 15th consecutive 5-Star Rating.