Northeast Bancorp : Jeanne Hulit Elected to National SBA Lender Association Board
January 22, 2016 at 03:27 pm EST
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Lewiston, Maine
Northeast Bank (the 'Bank') announced today that Jeanne Hulit, President of the Bank's Community Banking Division, was elected to the National Association of Government Guaranteed Lenders (NAGGL) Board of Directors. NAGGL is the only national trade association that serves the needs and represents the interests of the Small Business Administration (SBA) lending community, supporting their efforts to finance a wide variety of Main Street small business needs through the SBA's primary loan program. Hulit joins five directors elected by the membership in 2015 to serve three-year terms, and will formally join the 25-person board beginning in January 2016.
'NAGGL's newly elected directors bring a wealth of knowledge and insight to the association, and we are fortunate to have them on board. Their diverse backgrounds bring a fresh perspective on tackling the many challenges that small business owners face when seeking access to the capital needed to open their doors and create jobs in their communities,' said NAGGL President and CEO Tony Wilkinson.
Hulit is responsible for leading Northeast Bank's commercial, retail, and residential lending efforts in the State of Maine. Prior to joining Northeast Bank, she served in President Obama's Cabinet as the Acting Administrator of the U.S. Small Business Administration in Washington, DC. She was awarded NAGGL's 'Small Business Champion' award in 2012.
'It is an honor to have been elected to the NAGGL board,' said Jeanne Hulit, 'I am excited to join their effort to support SBA lenders across the country, and ensure small businesses receive the capital they need to grow.'
About Northeast Bank
Northeast Bancorp (NASDAQ: NBN) is the holding company for Northeast Bank, a full-service bank headquartered in Lewiston, Maine. We offer traditional banking services through the Community Banking Division, which operates ten full-service branches that serve customers located in western, central, and southern Maine. From our Maine and Boston locations, we also lend throughout the New England area. Our Loan Acquisition and Servicing Group (LASG) purchases and originates commercial loans on a nationwide basis. In addition, our Small Business Lending division supports the needs of growing businesses nationally. ableBanking, a division of Northeast Bank, offers savings products to consumers online. Information regarding Northeast Bank can be found on its website at www.northeastbank.com.
About NAGGL
The National Association for Government Guaranteed Lenders (NAGGL) serves the needs and represents the interests of the Small Business Administration (SBA) lending community as they finance a wide variety of Main Street small business needs through SBA's primary loan program. Our members expand access to capital for job-creating startups and existing small businesses nationwide. NAGGL has grown the industry and the small business sector by helping the 7(a) program flourish-burgeoning from $1 billion in 1984 to $23.5 billion in FY 2015 loans to entrepreneurs.
Northeast Bancorp issued this content on 2016-01-05 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-22 20:26:24 UTC
Original Document: https://www.northeastbank.com/news-room/jeanne-hulit-elected-national-sba-lender-association-board
Northeast Bank (the Bank) is a full-service financial institution. The Bank gathers retail deposits through its seven full-service branches in Maine and through its online deposit program, ableBanking; purchase and originate commercial loans, typically secured by real estate, on a nationwide basis through its National Lending Division, and originate loans through the Community Banking Division and Small Business Administration (SBA) National Division. The National Lending Division purchases primarily performing commercial real estate loans, on a nationwide basis, typically at a discount from their unpaid principal balances. The National Lending Division also originates commercial real estate and commercial and industrial loans on a nationwide basis. The SBA National Division originates loans to small businesses to help provide funding opportunities nationally. The Community Banking Division originates loans directly to businesses located in its market area.
NORTHEAST BANK 
