Ponte Vedra Beach, FL, Dec. 23, 2020 (GLOBE NEWSWIRE) -- North Avenue Capital, a specialized commercial lender exclusively originating, underwriting, and funding USDA Rural Development loans was recently recognized by the United States Department of Agriculture (USDA) as the #1 Business & Industry lender in the Top Commercial Lender Rankings for 2020.
Building Businesses. Growing Communities. Strengthening Economies.
North Avenue Capital partnered with the USDA to invest $131 million in the traditional Business & Industry loan program, more than any other commercial lender in the country during the 2020 fiscal year.
These investments helped 20 rural businesses acquire essential working capital through the USDA’s Business & Industry Loan Program helping create or save 533 jobs in these areas.
Some of the rural businesses that NAC supported in 2020 include Ranger Scientific, Three Horse Ranch Vineyard, Big Water Marina, and G&G Lumber.
“Access to affordable capital is the lifeblood of rural economies, particularly in these times,” said Ben Chatraw, Chief Executive of North Avenue Capital. “We’re honored to partner with the USDA in delivering more than one quarter billion dollars of capital to rural America over the past five years.”
About North Avenue Capital
North Avenue Capital is the nation’s #1 USDA business lender exclusively originating, underwriting, and funding commercial loans throughout rural America. Learn more about NAC and its borrowers at www.northavenue.com.