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