Lafayette Community Bank Is Your Source for U.S. Small Business Loans
April 7, 2011 - On January 22, 2009, Lafayette Community Bank was approved by the U.S. Small Business Administration to accept, consider, and process loan applications for small business owners. The formal approval was delivered personally by Gail Gesell, Director of the Indiana District Office of the SBA. CEO, Brad Marley was quoted as follows, "Our clients win, our company wins, and our community wins".
Since that time, the bank has been involved in the delivery of over $4,000,000 in SBA guaranteed loans to business owners in our area. These loans have had a positive influence over business expansion and have added another 40 jobs to the community we serve.
The process is straightforward, the business owner applies for the loan with Lafayette Community Bank. This includes the submission of the same financial statements required to apply for a commercial loan. The bank reviews and underwrites the business, and makes a lending decision. If the lender feels a guaranty is warranted, the bank submits their approval subject to SBA acceptance and approval. The SBA usually approves requests within 24 to 36 hours. When the loan is approved, the closing can occur in a few days to 45 days, depending on what additional information is required.
We know that the economy has been challenging for some business owners over the last 24 to 36 months. We seek to be a consultive partner, and we strive to come up with solutions that benefit the small business owner. We are effective listeners, and we are also experts when it comes to locating and delivering the tools that assist the business owner in the financial aspect of their business.
No other bank based in Tippecanoe County has been involved in more SBA loans than Lafayette Community Bank. We are your trusted small business partner. Your Dreams, Your Community. Completely invested in your hometown.