OAKDALE, Calif., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), was recognized by both Success Capital – Certified Development Corporation as their “Most Active SBA 504 Lending Partner” and by the Valley Small Business Development Corporation for the “Most Loan Guarantees Funded & Largest Total Dollar Aggregate Funded” during the most recent Success Capital and Valley Small Business fiscal years.
Oak Valley’s team booked $13 million in SBA 504 loans through Success Capital, which helped fund $27 million in total projects, aiding in the creation or retention of nearly 100 small business jobs. This award marks the seventh consecutive year that Oak Valley Community Bank has won the “Most Active SBA 504 Lending Partner” award. In addition, Senior Vice President, Commercial Banking Officer, Jeff Hushaw received the distinction of “Most Active 504 Lender” in 2022. Both distinctions covered lending activity in San Joaquin, Stanislaus, Merced, Mariposa, Tuolumne, and Calaveras Counties.
This year marks the first year the bank has earned the Valley Small Business distinction. The Oak Valley team funded over $3.5 million in Valley Small Business guaranteed loans for the year. Out of that total, Vice President, Commercial Banking Officer, Lynette Fletcher funded approximately $2.4 million in loan commitments.
Hushaw and Fletcher each has over 30 years of commercial banking experience. Hushaw has been with Oak Valley since 2017 and Fletcher since 2019. “Jeff and Lynette are proactive advocates for their clients and prospective borrowers. This recognition is a testament to their dedication to serving the borrowing needs of the business community,” stated Gary Stephens, EVP Commercial Banking Group.
The SBA 504 and Valley Small Business loan programs provide loans for small business development. Success Capital offers low down payment, fixed rate financing via the SBA 504 Loan Program for business owners to purchase or build facilities for their businesses. Similarly, Valley Small Business provides direct lending and/or guarantees on loans to small business or family farms to ensure increased access to capital. “Being recognized by our lending partners is an honor and reflection of our commitment to providing access to capital to Central Valley and Sierra small businesses. We commend our lenders and loan processing staff who perennially make our SBA lending efforts a priority,” added Chris Courtney, CEO.
Success Capital and Valley Small Business held their separate award presentations in the fall of 2022 recognizing Oak Valley Community Bank and other financial institution partners. The bank was represented by Commercial Banking Officers and others who contributed to their lending activity including EVP Chief Credit Officer, Mike Rodrigues, EVP Commercial Banking Group, Gary Stephens, and Commercial Banking Officers, Mike Petrucelli, Jeff Hushaw, Lynette Fletcher, Victoria Gaffney, Kim Parco, Rob Gildea, and Greg Mulder.
Oak Valley Community Bank
OVCB offers a variety of loan and deposit products to individuals and small businesses. They currently operate through 18 conveniently located branches: Oakdale, Turlock, Stockton, Patterson, Ripon, Escalon, Manteca, Tracy, Sacramento, Roseville, two branches in Sonora, three branches in Modesto, and three branches in their Eastern Sierra Division, which includes Bridgeport, Mammoth Lakes, and Bishop. For more information visit www.ovcb.com.
Success Capital – CDC
Since 1986, Success Capital has been helping small businesses throughout California secure favorable fixed-rate financing for real estate projects and equipment through the SBA 504, SBA 7(a), and other loan programs. Success Capital offers low down payment, fixed-rate financing via the SBA 504 Loan Program for business owners to purchase or build facilities for their businesses. For more information, visit www.successcapitalsba.com.
Valley Small Business Development Corporation
Incorporated in 1981, Valley Small Business is authorized to make direct loans as well as guarantee small business and family farm loans to ensure increased access to capital throughout their service area. To fulfil this mission, Valley Small Business collaborates with a wide variety of public and private financing institutions to serve twelve Central San Joaquin Valley counties including: Fresno, Kern, Kings, Madera, Mariposa, Merced, Stanislaus, Tulare, Tuolumne, Inyo, Mono, and Sacramento. Additionally, Valley Small Business provides loan guarantees to small businesses statewide with a $5.0 million loan guarantee lending limit. For more information, visit www.vsbdc.com.
Contacts:
Oak Valley Community Bank
Chris Courtney, CEO
Rick McCarty, President & COO
Phone: (866) 844-7500
www.ovcb.com
Success Capital CDC
Marsha Carr, President & CEO
Phone: (209) 521-9372
mcarr@successcapitalsba.com
Valley Small Business Development Corporation
Debbie Raven, President & CEO
Phone: (559) 476-3977
draven@vsbdc.com
