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Connecticut lender expands into Towson
Baltimore MD - October 8, 1999 - A fast-growing young lender is setting down roots in the Baltimore area.
Business Lenders LLC, based in Hartford, Conn., has been making a limited number of loans in Maryland since it was founded in 1994. Now the company is opening a Towson office staffed by two loan officers with hopes of expanding.
The company, which specializes in Small Business Administration lending, franchises and startups, has grown to become one of the nation's top 10 non-bank SBA lenders and was granted SBA preferred lending status in Maryland in July. It is licensed to make loans in 47 states and has SBA preferred status in 10 states.
The Towson office will be headed by Mike DeVito, a veteran SBA leader who spent nine years at First Union Small Business Capital, formerly the Money Store Investment Corp. before it was bought out by the Charlotte, N.C. based bank company.
