Lafayette Community Bank assists in local economic recovery in 2011
January 26, 2012 - banc-serv PARTNERS LLC, a local SBA Loan Service Provider based in Indiana would like to recognize Lafayette Community Bank, a full service community bank serving Tippecanoe County, as a leading SBA loan producer for 2011. From 2010 to 2011, Lafayette Community Bank increased its SBA portfolio 150% from the previous year, and in addition, increased the banks total SBA loan dollar amount from $367,000 to $6,290,000, equating to an overall increase of 1614% in a one year span allowing Lafayette Community Bank to become the top SBA loan producing community bank based in Tippecanoe County.
By utilizing the SBA's 7(a) loan program, Lafayette Community Bank has been able to increase its loan volume while also maintaining the freedom to diversify their portfolio through the finance of mulitple local businesses in the retail, medical and manufacturing industries.
When asked to comment, Brad Marley, President & CEO of Lafayette Community Bank said, "Over the past 12 months, with the assistance of the US Small Business Administration, Lafayette Community Bank has been able to lend over $6,000,000 to small businesses here in Indiana. These funds have directly impacted our community by helping create over 50 new jobs right here in Indiana."
Mr. Marley went on to say, "This truly shows how community banks like ours can make a positive impact in spurring the economic turnaround of our markets. We are pleased with what we accomplished in 2011, but we are looking to support our local economy even more in 2012 through additional investment in our local business community."
Lafayette Community Bank, with total assests of approximately $136 milliion, is a full service community bank offering an array of commercial banking and retail services with four offices in the Lafayette area. For more information, contact Jeff Bannon at (765) 429-7202, Steve Hickman at (765) 742-0813, Brad Marley at (765) 742-1523, or visit www.lafayettecommunitybank.com.