Press-Republican

Briefs

March 31, 2013

Business briefs: March 31, 2013

Conference attended

PLATTSBURGH — Dan Beggs of Taylor Rental recently attended a two-day dealer orientation in Dallas, Tex., for their newest line of tractors, Mahindra.

The orientation and conference consisted of finance training, product and sales training, advertising and merchandising. Mahindra, is the world’s No. 1 selling tractor.

Beggs is Taylor Rental’s outside salesman for Plattsburgh and their newest location, Saranac Lake.

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Rating received

PLATTSBURGH — Glens Falls National Bank and Trust Co. was recently recognized as a 5-Star Superior bank by the nation’s leading bank rating and research firm, BauerFinancial Inc. Glens Falls National has earned this designation for the past 24 consecutive quarters.

The 5-Star rating, awarded in March, indicates Glens Falls National Bank is one of the strongest banks in the nation. To earn 5 Stars, banks must excel in areas of capital quality, asset quality and profitability.

“Top-performing institutions, like Glens Falls National Bank and Trust Co., maintain strong policies, prudent underwriting and responsible investment,” said Karen L. Dorway, president of BauerFinancial.

Established in 1851, Glens Falls National currently operates 29 offices in five counties. More information can be found at gfnational.com.

Based in Coral Gables, Fla., BauerFinancial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays BauerFinancial to rate it, nor can any choose to be excluded. Consumers may obtain free star-ratings by visiting bauerfinancial.com.

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Bank honored

PLATTSBURGH — NBT Bank has been approved as a Small Business Administration (SBA) Preferred Lender under the agency’s Preferred Lender Program, according to SBA Syracuse District Director Bernard J. Paprocki.

“Only the most active and expert lenders qualify for SBA’s premier streamlined lending program,” Paprocki said. “This status will allow them to assist even more small businesses in communities where they have a presence.”

Under the SBA Preferred Lenders Program, NBT Bank has been delegated authority by the SBA to approve loans, resulting in faster service to local small business owners in need of capital. The most experienced lenders are designated as PLP Lenders and delegated the authority to process, close, service and liquidate most SBA guaranteed loans without prior SBA review. With this new lending authority, SBA has authorized NBT Bank to make the credit decision without prior SBA review on most actions.

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