First National named SBA Alaska 504 Lender of the Year

Bank earns honor for sixth time in nine years

For the sixth time since 2011, First National Bank Alaska’s commitment to providing financial assistance to Alaska businesses earned recognition from the United States Small Business Administration (SBA).

 The SBA announced First National’s selection as the 2019 Alaska SBA 504 Lender of the Year in connection with Annual National Small Business Week. The bank earned the same distinction in 2011, 2012, 2014, 2017 and 2018.

 “First National Bank Alaska is committed to our communities by helping Alaskans reach their dreams of building successful businesses,” said First National President Doug Longacre. “A key component to their success is for the aspiring business person to own the real estate where their business operates. For some, this is only made possible by the low down payment, long loan term, and low rate of interest offered with an SBA 504 program loan.”

Longacre credits the collaborative effort of experienced local community lenders and the strength of the SBA 504 program for First National’s position as the top lender in 2019.

In the 2019 fiscal year, the bank approved five SBA 504 loans totaling nearly $2.3 million. The SBA 504 loan program provides long-term, fixed-rate subordinate mortgage financing for acquiring or renovating capital assets including land, buildings and equipment.

Alaskan-owned and -operated since 1922, First National proudly meets the financial needs of Alaskans with ATMs and branches in 18 communities throughout the state, and by providing banking services to meet their needs across the nation and around the world. In 2020, Alaska Business readers voted the bank the “Best of Alaska Business” in the Best Place to Work category for the fifth year in a row. In 2019, American Banker recognized First National as a “Best Bank to Work For” for the second year in a row and Anchorage Daily News readers voted the bank one of the state’s top three financial institutions in the ADN “Best of Alaska” Awards. First National was also recognized as the most admired company in the state by MSN.com and received the Rita Sholton Large Business of the Year Award from the Alaska Chamber.

Visit FNBAlaska.com for more information about Alaska’s largest locally owned bank and access to efficient and secure online banking services.