President at 21st Century Bank
The U.S. Small Business Administration (SBA), Minnesota District’s fiscal-year-end numbers are in — and we at 21st Century Bank are once again proud to have served our small business customers well and remain a top lender in the state of Minnesota! We’re grateful for the important role we play in the Twin Cities as we help businesses start-up, grow, and thrive.
For the 4th consecutive year, 21st Century Bank originated the most SBA 504* loans in the State of Minnesota. Earlier this year, the SBA Minnesota District awarded 21st Century Bank another top spot based on our asset size! We remain a top Minnesota lender in SBA 7(a) loan programs, coming in 6th in both loans and dollar volume.
The key to our continued success is the knowledge and experience of our lenders, in-house SBA operations team, and the strong relationships we have built with our strategic partners, including Certified Development Companies (CDCs) on SBA 504 loan programs. These organizations support our efforts to supply SBA 504 loans to small businesses across our region.
Those collaborations, especially the one we have with Sheil Nelson, senior loan officer at Twin Cities Metro (TCM)-Certified Development Company (CDC), have been vital to our success.
“We appreciate another outstanding year with our relationship with you. 21st Century Bank is again TCM’s top lender for this year in terms of the number of 504 loans approved,” said Sheil.
As you think about planning for your small business financing needs and are looking to select a knowledgeable and experienced lending partner, consider that we are poised and ready to offer:
The SBA 7(a) loan program is an SBA program for providing financial assistance to small businesses. They are often used for non-real-estate transactions, including business startups, expansions, and acquisitions — and can give business owners access to working capital for growth, equipment finance, and more.
An SBA 504 loan program provides long-term, fixed-rate financing of up to $5 million for major fixed assets that promote business growth and job creation. This is often the recommended product for Owner Occupied building acquisition by 21st Century Bank—but note that there is a small percentage of situations where an SBA 7(a) loan can be the preferred product to purchase real estate
When you’re ready for a locally owned and operated bank to provide you tailored banking solutions and community-focused customer service, give us a call.
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