Farmers State Bank & Trust Named 2017 LEDC Bank of the Year
Editor's Note: The following article was submitted by the Louisiana Economic Development Corporation.
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Pictured (above, from left) are LED Incentives Director Brenda Guess, Famers State Bank and Trust Vice President Gerard Labat, Famers State Bank and Trust President and Chief Executive Officer Danny Domingue, LED Assistant Secretary Mandi Mitchell, LED Undersecretary Anna Villa and LED Secretary Don Pierson.
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On May 2, 2018, Louisiana Economic Development Corporation announced the 2017 Louisiana Small Business Award winners at an event honoring small business leaders who exemplify the entrepreneurial spirit of Louisiana. The winners were honored in a private reception at the Governor’s Mansion.
Each year LED selects a lender that has shown stellar performance in participating in the Louisiana Small Business Loan Guaranty Program. The Bank of the Year recipient exemplifies one of the tenants of LED's mission by, “Cultivating jobs and economic opportunity for the People of Louisiana through small business, innovation and entrepreneurship.” Since 2011, LED has provided Louisiana small businesses access to $28 million in capital through partnerships with community banks and lending institutions. It is through these partnerships we are able to facilitate the development, expansion and retention of Louisiana's small businesses. This year’s recipient, Farmers State Bank and Trust provided access to $1.6 million in true small business loans through the state’s guaranty program spreading it across traditional small business industries like automobile machine shops to c-stores.
For additional information on program eligibility or to contact a staff member, click here to visit their website.