Oct. 30, 2019

This paid piece is sponsored by The First National Bank in Sioux Falls. 

A strong commitment to helping small businesses succeed has resulted in a big honor for The First National Bank in Sioux Falls.

The bank recently was named the Dakota BUSINESS Finance 2019 Lender of the Year.

“Whether you’re a longtime business owner or pursuing your first business venture, The First National Bank in Sioux Falls has the resources to help fund your passion through small-business loans,” said Jeremy Keckler, senior vice president and business banking manager.

“We care about our communities, and we care about your success.”

Dakota BUSINESS Finance gives the award to the bank or financial institution with the highest number of Small Business Administration (SBA) 504 loans during the federal fiscal year.

“Together with The First National Bank in Sioux Falls, we were able to provide low-interest, fixed-rate financing to four local businesses through the SBA 504 loan program,” said Lynne Forbes, executive director of Dakota Business Finance.

“The lenders at The First National Bank in Sioux Falls are professional to work with, and we look forward to doing additional SBA 504 loans with them in the future.”

The SBA’s 504 loan program provides collaborative financing between local lenders, the SBA and the business owner.

Here’s a breakdown of how financing with a 504 Loan typically works:

• 50 percent bank/lender.
• 40 percent SBA/Dakota BUSINESS Finance.
• 10 percent small-business owner.

“We understand the importance of small businesses to our local and state economies, so we want to be leading in that area of banking in the community, all while being a valuable resource for our customers throughout the lending process,” Keckler said.

FNB’s leadership in SBA 504 loans has helped people like Tim Wartner, president of Hydraulic World Inc. in Sioux Falls.

Business banker Matt Teller has worked with Wartner to help secure funding for his business and provide help along the way.

“First National Bank has been a tremendous asset to our company,” Wartner said. “Being a small business with limited time and knowledge of 504 loans, The First National team walked us through the process and made it as simple as possible.”

The difference comes from experienced business bankers, Keckler added.

“When we work with a business or an organization, we take the time to get to know the people behind the business and work together to provide banking solutions that help make business dreams a reality,” he said.

For Wartner, it has become a relationship he anticipates continuing as his business grows.

“First National Bank is great to do business with because they care about their customers and treat them like family,” Wartner said. “Whenever I need anything, Matt is always there to help.”

For information on SBA 504 loans or any of First National’s other business banking services, contact Matt Teller or a member of the business banking team.