#Commencement Bank Strengthens SBA Lending Division
TACOMA, WA — Commencement Bank, a subsidiary of Commencement Bancorp, Inc. (OTCQX:CBWA), has appointed Erin Shannon as the new Vice President and Manager of Small Business Administration (SBA) lending. This strategic decision aims to enhance the bank's capacity to assist small business owners in obtaining necessary funding.
Shannon brings over two decades of experience in the banking sector, with a specific emphasis on SBA lending. Prior to her role at Commencement Bank, she served as the SBA Manager and Vice President at 1st Security Bank of Washington, where she was instrumental in establishing and overseeing the bank’s SBA department, which included developing policies and training lending teams.
The addition of a dedicated SBA specialist like Shannon reflects Commencement Bank’s commitment to providing tailored support for small businesses. By streamlining the SBA lending process and minimizing complexities, the bank aims to improve access to vital funding for local entrepreneurs.
In a statement, Nigel English, the President and Chief Operating Officer of Commencement Bank, emphasized the significance of having a knowledgeable banker focused on SBA loans. He noted that Shannon's expertise will not only enhance client experiences but will also bolster the bank's relationships within the community.
Expressing her enthusiasm about joining Commencement Bank, Shannon stated that she is eager to expand access to SBA financing for businesses across the community. She highlighted her commitment to relationship banking and assisting local companies in their growth.
Erin Shannon has been appointed as the Vice President and SBA Lending Manager at Commencement Bank, bringing over 20 years of banking experience with a focus on SBA lending. This strategic hire signals the bank's commitment to enhancing its support for small business owners.
Shannon's extensive background includes leading the SBA department at 1st Security Bank of Washington and serving as an SBA Loan Specialist. Her proven track record in developing successful SBA programmes is likely to benefit Commencement Bank's clients significantly.
The hiring of an SBA specialist like Shannon is expected to streamline the process for small business owners seeking SBA loans. This move enhances the bank's capability to improve client service and navigate the complexities of SBA financing.
Shannon's expertise in SBA lending can lead to improved access to funding for small businesses, potentially fostering local economic growth and resilience in the community.
The appointment reflects Commencement Bank's strategic focus on relationship banking and increasing its support for local businesses, aligning with market demands for specialised financial services.
Commencement Bank has always offered SBA lending services, but the new hire indicates a robust commitment to enhancing these offerings, which may lead to increased market competitiveness.
Shannon will focus on all aspects of SBA lending activity, ensuring that the bank’s processes are efficient and customer-friendly, ideally resulting in better outcomes for business clients.
Having a dedicated SBA lending manager provides a focused approach to assisting small business owners, which could lead to higher success rates in securing loans and navigating the complexities of SBA programmes.