HarborOne Bank Named FY 2020 SBA 7a Lender of the Year in Rhode Island

January 27, 2021

(Warwick, RI) – January 27, 2021 – HarborOne Bank announced today it has been named FY 2020 Small Business Administration (SBA) 7a Lender of the Year for its commitment to SBA lending in Rhode Island. The awards ceremony will take place virtually on Wednesday, January 27.

“We are honored to be recognized as a Rhode Island 2020 SBA 7a Lender of the Year,” said James Blake, CEO at HarborOne Bank. “We are committed to helping the small businesses that are the backbone of the communities in which we live and work. These loans have been crucial in allowing Rhode Island businesses to keep their doors open, retain their employees and keep our economy moving in very difficult times.”

In 2020, HarborOne made 19 SBA loans to Rhode Island small companies and non-profits, the most in the state. Along with the 19 SBA 7A loans the bank made, it also made SBA 504 Loans typically used to purchase land or existing buildings and to provide funds for improvements or modernizations. This is the second time in three years the SBA has recognized HarborOne as a loan leader in Rhode Island.

"I would like to congratulate HarborOne Bank for being named 7(a) Lender of the Year for Fiscal Year 2020," said SBA District Director Mark S. Hayward. "HarborOne has consistently been one of the top 7(a) lenders in Rhode Island year after year. A testament to its lending team and dedication to the small business community. In a year that presented unprecedented challenges, HarborOne still answered the call of local small businesses in need, and for that, we are all grateful," he added.

At the close of the fiscal year, which ran from October 1, 2019 to September 30, 2020, a total of 156 SBA 7a loans had been approved in Rhode Island by 42 different lenders, totally over $46 million.

HarborOne acquired Rhode Island’s Coastway Community Bank in 2018.

About HarborOne Bank

HarborOne Bank, headquartered in Massachusetts, serves the financial needs of consumers, businesses, and municipalities throughout Massachusetts and Rhode Island through a network of 30 full-service banking centers and commercial loan offices.

The Bank also provides a range of educational resources through “HarborOne U,” with free digital content, webinars, and recordings for small business and personal financial education. HarborOne Mortgage, LLC, a subsidiary of HarborOne Bank, provides mortgage lending services throughout New England and other states.