Community Trust Bank Recognized as West Virginia's “Exporting Lender of the Year” by the U.S. Small Business Administration

May 21, 2018
 
PIKEVILLE, KENTUCKY – Community Trust Bank, Inc. was recently recognized as West Virginia's “Exporting Lender of the Year” by the United States Small Business Administration (SBA). The award was presented May 2, 2018 at the SBA’s Small Business Week Awards Ceremony in Fairmont, West Virginia.
 
Community Trust Bank was the top dollar SBA lender in West Virginia during the 2016-17 federal fiscal year. Community Trust Bank closed eight SBA-guaranteed loans totaling more than $7,853,500, including the first 7a International Trade Loan in West Virginia history. Additionally, Community Trust Bank customer Doug Tate, owner of Alpha Technologies, Inc. in Hurricane, West Virginia, was honored as the West Virginia "Small Business Person of the Year" and was also named First Runner-Up for "National Small Business Person of the Year."
 
Community Trust Bank is partnering with Alpha Technologies and the West Virginia Economic Development Authority to fund a 35-mile fiber loop in the Charleston/South Charleston area which will provide improved telecommunications services for Alpha's data center and dozens of other businesses.
“96 percent of all the world’s consumers and over three-quarters of the world’s purchasing power is outside of the United states,” states Karen Friel, District Director for the U.S. Small Business Administration’s West Virginia District Office. “While some lenders find exporting loans to be risky, we are excited that Community Trust Bank is utilizing SBA’s export loan guarantee program to reduce risk and help small businesses grow West Virginia’s economic outlook.”
 
“Community Trust Bank is pleased to receive this recognition from the Small Business Administration,” said Mark Gooch, President and CEO of Community Trust Bank, Inc. “We look forward to continuing to assist small businesses grow in West Virginia, Kentucky, and Tennessee.”
 
"We are honored to receive recognition from SBA for our West Virginia lending success," said Terry Spears, VP/Small Business Banking Officer for Community Trust Bank. "We are also extremely proud of our customer, Doug Tate and the talented team he has built at Alpha Technologies, Inc., for their well-deserved recognition at the state and national level."

The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA recognizes that small business is critical to the United States’ economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Although the SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.
 
Community Trust Bank is a wholly owned subsidiary of Community Trust Bancorp, Inc. Community Trust Bancorp, Inc., with assets of $4.2 billion, is headquartered in Pikeville, Kentucky and has 70 banking locations across eastern, northeastern, central, and south central Kentucky, six banking locations in southern West Virginia, four banking locations in Tennessee, four trust offices across Kentucky, and one trust office in Tennessee.