MICHIGAN CITY | A Northwest Indiana bank's small-business lending nearly doubled last year.
Horizon Bank reported its U.S. Small Business Administration loan volume rose to $9.9 million last year, up from $5.2 million in 2012. The Michigan City-based bank ranked sixth in SBA lending in West Michigan and 14th in Indiana.
"We're pleased to again rank among the top 10 SBA lenders in Michigan," stated Steve Piper, Vice President of Commercial Credit, in Horizon Bank's Portage, Mich., office. "But beyond the rankings, what we’re most proud of has been our ability to serve so many businesses with their financial needs."
Horizon, which has a large presence in Porter and LaPorte counties, had been ranked 10th in West Michigan last year in the number of SBA loans closed. In Indiana, the bank saw its SBA loan volume more than double to $6.7 million in 2013.
"The continued increases demonstrate our strong commitment to the businesses in our region," Piper said. "We firmly believe that these investments make a very real, positive difference in our Michiana communities -- and we're proud of maintaining sound financial practices that make such loans possible."
Horizon is a locally owned and independent commercial bank that has served Northern Indiana and Southwest Michigan for the last 141 years. It extends SBA loans to provide working capital that allows small businesses to expand, make building improvements or fill gaps in annual cash flow.
"As a local bank, our goal is to build a long-term relationship with our clients," Piper said. "We want to make sure that the business remains a healthy part of the local economy. We truly believe in and work to provide exceptional service and sensible advice to diverse businesses within our community."