Horizon Bank Shows Increased Business Loan Volume
March 13, 2014 03:00 PM
Michigan City, IN – In the most recent lending ratings released by Business Review of West Michigan, Horizon Bank ranked #6 for the SBA’s fiscal year ending September 30, 2013 – up from #10 in 2012. This ranking recognizes Southwest Michigan’s top SBA lenders based on the number of 7(a) loans closed during the year.
“We’re pleased to again rank among the top 10 SBA lenders in Michigan,” stated Steve Piper, Vice President of Commercial Credit, in Horizon Bank’s Portage, Michigan, office. “But beyond the rankings, what we’re most proud of has been our ability to serve so many businesses with their financial needs.”
Horizon Bank showed an increase in SBA loan volume, from $5.2 million in 2012, to $9.9 million in 2013. Additionally, while the bank ranks 14th in SBA lending for the state of Indiana, loan volume there went up to $6.7 million in 2013 – more than double the numbers from 2012. Horizon Bank has also reported steady increases in the SBA’s 504 fixed asset acquisition program.
“The continued increases demonstrate our strong commitment to the businesses in our region,” said Piper. “We firmly believe that these investments make a very real, positive difference in our Michiana communities – and we’re proud of maintaining sound financial practices that make such loans possible.”
Piper noted that in 2011, Horizon Bank achieved status as part of the Preferred Lenders Program (PLP), giving the bank the ability to streamline procedures for giving financial assistance to the small business community. Under this program, SBA delegates the final credit decision, along with most servicing and liquidation authority and responsibilities to designated lenders such as Horizon. This in turn allows the bank to give more timely approvals on loans. “The PLP designation helps us expedite these loans for the people who need them, and sets Horizon apart from many other financial institutions in the area.”
Horizon Bank has a wealth of experience and expertise in providing SBA loans. Whether financing growth opportunities through increased working capital or building improvements, or helping to fill gaps in annual cash flow, the bank makes every effort to provide the necessary funds – and the ongoing service that businesses need.
“As a local bank, our goal is to build a long-term relationship with our clients,” said Piper. “We want to make sure that the business remains a healthy part of the local economy. We truly believe in and work to provide exceptional service and sensible advice to diverse businesses within our community.”
For more information on Horizon Bank’s conventional or SBA loans, visit any of Horizon Bank’s local offices or contact call center advisors at (219) 873-2640 or toll-free at (888) 873-2640. Additional information is available by visiting www.horizonbank.com
Horizon is a locally owned, independent, commercial bank holding company serving Northern Indiana and Southwest Michigan since 1873. Horizon also offers mortgage-banking services throughout the Midwest. For more information, visit www.horioznbank.com. Its common stock is traded on the NASDAQ Global Market under the symbol HBNC.
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