First Business Financial Services : Bank Funds $775,000 SBA 7(a) Loan For Partner Buyout in California
May 08, 2024 at 09:07 am EDT
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MADISON, WI - May 8, 2024 -Teresa Rogers, Vice President - SBA Lending at First Business Bank, announces a recently closed and funded $775,000 SBA 7(a) loan for an office workstation contractor in California. The SBA 7(a) loan, which provides 100% financing with zero down payment, facilitates a partner buyout, allowing the business to achieve its succession planning objectives by transferring full ownership to one of the company's original founders.
"At First Business Bank, we pride ourselves on providing tailored financial solutions to help businesses achieve their goals," said Teresa Rogers, Vice President - SBA Lending at First Business Bank. "By leveraging the SBA 7(a) loan program, we were able to support our client's succession plan, ensuring a smooth transition of ownership and positioning the company for continued success."
An SBA-designated Preferred Lending Partner, First Business Bank's Top 100 SBA Lending team provides efficient access for businesses to several SBA loan programs, including 7(a) loans, 504 loans, and the International Trade Loan program. The team operates nationwide to assist businesses with various needs, such as commercial real estate purchases, tenant improvements, equipment, working capital, business startup costs, inventory, business acquisitions, and debt refinancing.
About First Business Bank
First Business Bank® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank's wholly owned subsidiary First Business Specialty Finance, LLC®. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc®. (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank. Member FDIC
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08 May 2024 and is solely responsible for the information contained therein. Distributed by
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First Business Financial Services, Inc. is a bank holding company. The Company is engaged in the commercial banking business through its bank subsidiary, First Business Bank (the Bank). The Bank operates as a business bank, delivering a full line of commercial banking products and services tailored to meet the specific needs of small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals. Its products and services are focused on business banking, private wealth, and bank consulting. It offers commercial real estate lending, commercial and industrial lending, asset-based lending, accounts receivable financing, equipment financing, floorplan financing, vendor financing, small business administration (SBA) lending and servicing, treasury management solutions, and company retirement services. Its private wealth management services include trust and estate administration, financial planning, investment management, and private banking.