For Immediate Release
Contact: Jack Forbush 617-269-5773

Boston, MA... Mt. Washington Bank, today announced its approval as a Small Business Administration (SBA) Lender.

" The approval of Mt. Washington as an SBA lender shows our continuous commitment to increasing our services to business clients and expanding this important aspect of our business," said Edward Merritt, President and Chief Executive Officer.

Mt. Washington's SBA Lending Department consists of experienced SBA lenders. Persons or businesses interested in this program should call Mario Berlinghieri, Vice President at 857-524-1059.

The U.S. Small Business Administration (SBA) is an independent Agency of the Executive Branch of the Federal Government. SBA sets the guidelines for the loans while SBA's partners, such as Mt. Washington Bank, make the loans to small businesses. SBA backs those loans with a guaranty that will eliminate some of the risk to the lending partners.

The loan guaranty which SBA provides transfers the risk of borrower non-payment, up to the amount of the guaranty, from the lender to SBA. Therefore, when a business applies for an SBA Loan, they are actually applying for a commercial loan, structured according to SBA requirements, which receives an SBA approval and guaranty.

Because the SBA can guarantee up to 85% of the value of the loan, Mt. Washington's credit quality will remain strong.

Founded in 1893, Mt. Washington Bank has stayed committed to the promise outlined in its mission statement by being a “full-service independent bank, offering financial services to meet the needs of its retail and small business community.”

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