May-12 |
20-year Term: 4.46% |
20-year Term RFI: 4.67% 10-year Term RFI:3.99% |
Grand Rapids, Michigan - Economic Development Foundation (EDF) is pleased to announce Brent Kehrwecker, Second Vice President, Commercial Banking Loan Officer at Byron Bank, has been awarded their “Small Business Administration (SBA) 504 Lender of the Year”. This award is given annually to a lender that shows leadership and resourcefulness by working closely with small businesses to help them finance fixed assets through the SBA 504 program.
Brent was awarded this honor by partnering with EDF on several SBA 504 loans throughout 2009 that assisted small businesses to create and retain jobs in Michigan. “We need bankers like Brent that help the State of Michigan back to economic recovery by lending money to businesses that are expanding”, EDF President Sandy Bloem said during the presentation at the Michigan SBA Lenders Conference in Lansing on March 23, 2010.
SBA 504 loans are a partnership between a small business, a lending institution and the Small Business Administration (an independent agency of the federal government). Nonprofit organizations like the EDF facilitate these loans at a local level to create 504 loan packages that offer lower interest rates, smaller down payments, and longer terms than typical commercial fixed asset financing.
“Despite obvious challenges in our economy, Byron Bank remains dedicated to supporting the growth of the West Michigan business community, “ said Joel Rahn, Byron Bank’s Executive Vice President, Commercial Banking. “Brent’s work with the SBA 504 program is an excellent example of this. Brent is an important part of our lending team.”
About Economic Development Foundation
The Economic Development Foundation is a non-profit organization that promotes job creation throughout Michigan by working with the SBA and private sector lenders to provide financing to small businesses for capital assets under the SBA 504 loan program. Through highly personal service, an experienced team and a hands-on approach to helping customers through the loan process, EDF helps many small businesses each year start, build and grow their companies. Learn more online at growmichigan.com.
About Byron Bank
Founded in 1921, Byron Bank has $840 million in total assets and operates 14 full-service banking offices in Kent, Ottawa and Allegan counties. The Bank also serves business customers across West Michigan through its Mobile Banking courier service. Insurance and investment services are provided by the Bank’s subsidiaries, Byron Insurance Agency and Byron Investment Services.
Byron Bank’s experienced team of professionals provides a competitive suite of products along with a passion for creating an unsurpassed customer experience. The Michigan Business and Professional Association recently named Byron Bank as one of the 101 Best and Brightest places to work for in West Michigan for 2009.