How has the bank leveraged the U.S. Small Business Administration Preferred Lender
Program to create new opportunities?
Since its founding in 1988, Portage Commerce Bank has been dedicated to small business.
This commitment is apparent in many ways, including the expertise we have developed
in U.S. Small Business Administration (SBA) lending. Since the bank was granted
the Preferred Lender Program status in 2004, we have originated over $33 million
in SBA loans for more than 90 small business clients. This has allowed us to finance
growing businesses, enabled clients to establish new businesses and provided transitional
financing to new owners. In most cases, the proper financing may not have been available
otherwise.
The success of our SBA initiative shows the quality of our lending staff, as well
as the expertise available to us through Capitol Bancorp Limited.
I would like to recognize the contributions of Robert L. Johnson who passed away
in November. Bob was an original investor in the bank and a founding member of the
board of directors. He was integral in developing the bank into a steady, high-performing
bank and will be missed.
We celebrated the bank’s 20th anniversary last May. I am proud of our team’s dedication
to its continuing safe and sound performance, even as our industry has been faced
with many unprecedented challenges. It is also a testament to the oversight and
wisdom of our outstanding directors many of whom, like Bob, are founding members.
— Dennis J. Kuhn, President & CEO