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BankNewport Named Rhode Island SBA Lender of the Year in 7(a), 504 and Combined Dollar Volume

01.30.26

BankNewport Receives Multiple Honors for Fiscal Year 2025

NEWPORT, R.I. – (January 28, 2026) – BankNewport has been recognized by the U.S. Small Business Administration’s Rhode Island District Office for outstanding performance in small business lending, once again ranking number one statewide across multiple SBA lending categories.

During the annual SBA Rhode Island Lender Awards ceremony on January 28, BankNewport was named:

  • Rhode Island 7(a) Lender of the Year
  • Rhode Island 504 3rd Party Lender of the Year
  • Rhode Island 7(a) & 504 3rd Party Combined Dollar Volume Lender of the Year

These recognitions reaffirm BankNewport’s continued leadership in SBA lending and commitment to supporting Rhode Island’s small business community. According to SBA lender rankings for FY25, which concluded on September 30, BankNewport originated 72 SBA 7(a) loans totaling $4.537 million, and 16 SBA 504 third-party loans totaling $12.141 million, resulting in the state’s highest combined dollar volume for 7(a) and 504 lending.

BankNewport has been the SBA 504 3rd Party Lender of the Year in Rhode Island for 14 of the past 15 years.
“We’re honored to once again be recognized as Rhode Island’s top SBA lender,” said Jeanne Lapak, Executive Vice President and Chief Commercial Banking and Lending Officer, BankNewport. “These awards reflect our team’s dedication to helping local businesses secure the financing they need to grow, innovate, and strengthen our state’s economy.”

“BankNewport’s steadfast commitment to ensuring small businesses in Rhode Island can gain access to the funding needed to start and grow their business has been second to none yet again this year.,” said SBA District Director Rob Piechota. “In a record-breaking year for SBA lending in Rhode Island, Jeanne Lapak and her team have been leading the way, and their support of local small businesses across all industries is helping our local, state, and national economies grow.”

The SBA 7(a) program offers flexible financing to support working capital, equipment purchases, and business expansion. The SBA 504 program provides long-term, fixed-rate financing for commercial real estate and equipment projects in partnership with certified development companies.

BankNewport continues to expand access to capital for entrepreneurs and business owners statewide, with loans supporting projects across communities including Providence, Warwick, Cranston, North Kingstown, Newport, East Providence, and others.