Granite State Development Corporation (“GSDC”) announced that Ethan Swain has joined the firm as Vice President responsible for developing and managing lending partnerships and business relationships in Vermont. Ethan comes with a broad range of industry experience and as a Vermont native, he is passionate about the communities and local economy where he lives and works.
Ethan most recently worked as a Commercial Banking Officer at Merchants Bank where he covered the eastern side of the state developing lending relationships with small and large companies in a wide range of industries. Prior to Merchants, Ethan worked for Northern Community Investment Corporation where he was responsible for prospecting, underwriting, closing, and servicing direct loans and SBA loans for small businesses. Ethan comments “I am excited to start a new challenge with GSDC and look forward to leveraging their expertise to help finance small businesses and improve job opportunities in Vermont. I am very fortunate to be joining such a well-established company with a strong track record of success. I really enjoy working with lending partners and business owners to make deals work; the timing and fit is perfect.”
Ethan grew up in the Lyndon area, and graduated from St. Johnsbury Academy, where he was the goalie and captain of the state championship hockey team. He received a bachelor’s degree in business administration from the University of Vermont, and was selected to perform credit analyses for executives at Morgan Stanley and the Capital Group as part of the business school’s Wall Street Honors Seminar. After graduation, he moved to New York City to work as a valuation analyst for an investment bank. “It was exciting to be working on Wall Street with Fortune 500 companies, but my job didn’t have enough of the personal touch,” said Ethan. After a year, he moved to Austin (TX) to work for Meritage Capital, LP, a small investment management firm, analyzing small businesses for potential inclusion in a hedge fund portfolio. “I really enjoyed the personal interaction with the managers and made some good connections,” he said. “The job was great, but something was still missing. I finally realized that Austin would never feel like home to me.” After eight years of living outside of Vermont, Ethan moved back to the Lyndon area where he currently lives with his wife and 2-year old daughter. He is involved with community-focused organizations and a member of the local volunteer fire department, which allows him to contribute, in another way, to the community he loves.
About Granite State Development Corporation
Granite State Development Corporation (www.granitestatedev.com) is a non-profit lender authorized to package and service Small Business Administration (“SBA”) loans utilizing the 504 lending program. GSDC is the most active certified development company (“CDC”) in New England and is one of the largest CDCs nationwide, generally ranking in the top 5 for volume and dollar.
