Small Business Success

CBC National Bank announces the addition of its in-house USDA Business and Industry (B&I) Lending Department. This specialized department was created to better serve small business owners in acquiring funding, whether it be for a start-up business, to refinance current debt into better rates and terms, to purchase new equipment or to provide working capital. The creation of the USDA B&I Lending Department will work in conjunction with the bank’s already established Small Business Administration Lending Group to better serve small business owners.

USDA B&I loans are guaranteed loans by the United States Department of Agriculture; however, don’t be fooled into thinking the USDA only funds agricultural projects, as the program will fit the mold for virtually any business that is operating for profit. Another benefit of the program is the ability to provide financing for projects that sometimes do not qualify for Small Business Administration Loans, such as non-owner-occupied businesses, including strip malls and multi-use o ce complexes.

CBC National Bank’s USDA B&I Lending Department welcomes the addition of Richard Duncan, vice president of USDA Lending, and Michael Oppel, assistant vice president of USDA Lending, to the team. Richard and Michael are both industry veterans with a combined 15 years in the arena of USDA Business and Industry Lending. The newly created USDA Department will provide small businesses with yet another resource to satisfying their funding needs in addition to our conventional loans and Small Business Administration Loans. The USDA department will be a turnkey service center for customers to contact from loan origination

350-3503 through loan closing. No need for a USDA Service Provider or Packager, as all loans will be processed in-house, which allows for cost savings to be passed along to the customer.

USDA Business and Industry Loans are targeted at bolstering job retention and creation in rural communities while improving the overall economic climate in rural America. Some perks of the USDA B&I Program are:

› Competitive fixed and variable rates

› Up to 30-year, fully amortized loans—no more renewals, appraisals or balloon payments

› Minimum down payments

› Easy application process

› Quick turnaround times for closing

Mr. Duncan and Mr. Oppel are dedicated to helping the small business owner meet his or her financial needs in today’s versatile economy by structuring loans consistent with the business owner’s plans for a successful future.

If your business is paying an excessive interest rate or subject to frequent loan renewals, stop and give our USDA Lending Department a call today to discuss options that could put your business on track to a stronger bottom line.

RICHARD DUNCAN MICHAEL OPPEL VP, USDA Lending