Horizon Bank Among Michigans Top Ten SBA Lenders
Michigan City, Indiana – Horizon Bank has been recognized by the U.S. Small Business Administration’s Michigan District Office as a top 10 SBA lender for the state in fiscal year 2016. The honor is given as an indicator of Horizon Bank’s overall support, knowledge, and use, of the SBA loan guaranty programs.
Scott Ellison, SBA/Government Loan Program Manager at Horizon, notes that the bank is a Preferred Lender with the SBA, a designation awarded based on his team’s knowledge, long-term relationship with the SBA, and ongoing commitment to the SBA Loan Programs. The designation allows the bank to approve and close SBA loans without SBA review – which in turn gives the bank the ability to respond quickly to small business needs.
“The SBA program,” Ellison says, “gives us the ability to make loans to small businesses that do not qualify for a traditional commercial loan, or those that cannot obtain a commercial loan on the extended terms allowed through this program. With the SBA Guaranty, we can provide loans to start-ups and newer, emerging companies that have not yet established a long track record or income stability.”
The program is a zero-subsidy governmental program that acts as a model of cooperation between the public and private sectors. Horizon’s commitment to the SBA Lending Programs reflects their understanding of the importance of small businesses across the U.S. economy. “We recognize that small businesses are the catalyst for job creation and the fuel that really drives the economy,” Ellison says.
Through the SBA program, businesses can obtain much-needed funds, with terms up to 25 years, and without 5-year balloon payments that are more typical of traditional commercial loans.
For more information on commercial and SBA lending options to fund new and upgraded facilities, working capital, equipment needs, and more, contact Horizon Bank at 888-873-2640.
Horizon Bancorp is a locally owned, independent, commercial bank holding company serving Northern and Central Indiana and Southwest and Central Michigan and Central Ohio 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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Contact: Amy Phares
Public Relations Coordinator
Phone: (219) 874-9208
Fax: (219) 873-2628