Baylake Bank Recognized for Small Business Administration Lending

Commercial Bankers Jamie Alberts and Travis LeRoy, along with Financial Center Manager Larry Gajda were recently recognized by Great Lakes Asset Corporation and the U.S. Small Business Administration (SBA) for their contributions the past 12 months in utilizing SBA 504 programs to help area companies expand.

The 504 Loan Program provides approved small businesses with long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization. The use of proceeds from 504 Loans must be used for fixed assets (and certain soft costs), including: (1) the purchase of existing buildings; (2) the purchase of land and land improvements; (3) the construction of new facilities or modernizing, renovating, or converting existing facilities; (4) the purchase of some long-term machinery; or (5) the refinancing of debt in connection with an expansion of the business through new or renovated facilities.*

The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth and job creation. By assisting with the expansion of small and medium sized businesses across the state, together the SBA and lending partners like Baylake Bank, play a major role in strengthening Wisconsin’s economy.

In addition, Baylake Bank Commercial Loan Officers secured more than $7.4 million in SBA 7a financing for local businesses between October 1, 2011 and September 30, 2012—SBA’s fiscal year. Baylake Bank is a Preferred and Express SBA Lender and has been a SBA participating lender for more than 30 years.

“We have the experience and financing options available for any type of business need. I invite you to contact us when you’re in need of a business loan,” said Alberts, VP, Senior Commercial Banking Officer.

The Wisconsin SBA assisted 1,739 businesses in obtaining over $716 million in loans; with 487 loans going to start-up businesses for the fiscal year 2012 that ended September 30, 2012.

*For more information about the 504 Loan program or other SBA programs, visit the SBA website at www.sba.gov/wi.
 

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Baylake Bank | 217 N. 4th Avenue | Sturgeon Bay, WI 54235 | 1-800-267-3610