Horizon Announces SBA Lending Services Based in Grand Rapids, Michigan
Michigan City, IN – Horizon Bank announces the addition of an SBA (Small Business Association) Lending team to its new branch in Grand Rapids, Michigan. Team members will provide support both for the Grand Rapids Commercial Lending team, as well as other Horizon locations.
Scott Ellison will help lead the program as VP - SBA/Government Loan Manager for the bank. Born and raised in Grand Rapids, he joined Horizon in 2015 – bringing with him a total of 32 years of experience in Commercial Lending, with 15 years dedicated to managing SBA and other government loan programs.
Ellison notes, “SBA loans allow Horizon Bank to make commercial loans with more favorable terms. Clients can get up to 25-year terms, with no balloon payments – which helps keep debt payments low, and frees up cash for business growth and expansion. This also allows Horizon Bank to make loans to start-up businesses, to those that lack sufficient collateral, or those with other concerns that might affect their ability to get a standard loan without SBA support.”
As an SBA Preferred Lender, Horizon Bank has demonstrated its expertise in providing these types of loans. The designation allows the bank to make lending decisions on its own, without prior approval from the SBA itself. This means loans can be finalized and funded more quickly, avoiding the lengthy approval process common with less experienced SBA Lenders.
With Ellison’s expertise, the Grand Rapids Commercial Lending team will have on-site support in determining the best government loan options for commercial clients’ individual circumstances. Additionally, Ellison says, he looks forward to being a resource for the Grand Rapids Horizon Bank team and their business customers, and to being a speaker and/or panelist at community events, in the town where he has built an extensive network throughout his life and career.
In addition, Angela Durrah-Bays will provide administrative support for SBA and other government-backed loans. She, too, has worked extensively in the Grand Rapids area, with 20 years of financial services experience. “She’s a new, critically important member of the Horizon Bank Grand Rapids Commercial Lending team,” says Ellison.
Other Government-Supported Loans Available at Horizon Bank
Ellison notes that Horizon offers diverse government-backed loan servicing, including: SBA 7a (SBA Advantage) Loan Guaranty Program; SBA 504 (SBA Grow) Loan Program; USDA Rural Development Loan Guaranty Program; USDA Farm Service Agency (FSA) Loans; and The Capital Access Loan Program. For more information, visit www.HorizonBank.com or stop in at any Horizon Bank facility.
Horizon Bancorp is a locally owned, independent, commercial bank holding company serving Northern and Central Indiana and Southwest and Central Michigan through its commercial banking subsidiary Horizon Bank, NA. Horizon also offers mortgage-banking services throughout the Midwest. Horizon Bancorp may be reached online at www.horizonbank.com. Its common stock is traded on the NASDAQ Global Select Market under the symbol HBNC.
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