MILWAUKEE, WI -- (Marketwired) -- 05/23/13 -- BMO Harris Bank was recently recognized by the Wisconsin Small Business Administration (SBA) as the 504 Loan Program Lender of the Year. This is the eighth consecutive year that BMO Harris Bank has received the award.
The SBA 504 loan program is a long-term financing tool for economic development within a community. This economic development program has a primary focus on job creation. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land, buildings, and equipment.
"We are dedicated to providing business owners with the tools and resources needed to support their growth and success and this recognition is a direct result of the work by our teams throughout the state," said Margie Lawless, Senior Vice President of Small Business Banking, BMO Harris Bank. "Through the SBA 504 Program, our customers benefit from longer term financing compared to what banks can provide on a conventional basis, many times making the payments and terms more affordable for businesses."
"We recognize the key role businesses play in the vitality of the communities that we serve, which is why we are talking with businesses every day to clearly understand their unique needs," said Brad Chapin, Executive Vice President, BMO Harris Bank. "The bank's use of programs such as the SBA 504 program has benefited many Wisconsin companies who have subsequently added jobs and increased economic development in their communities. These programs build on the efforts of our local teams who are constantly working with customers to identify financial solutions to help them realize their aspirations."
BMO Harris Bank participates in a variety of SBA programs, including the SBA's reengineered CAPLines program designed to help small businesses meet their short-term and cyclical working capital needs.
About BMO Harris Bank
BMO Harris Bank provides a broad range of personal banking products and solutions through over 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank's commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. For more information about BMO Harris Bank, go to the company fact sheet. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris Bank(SM) is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with approximately 1,600 branches, and $542 billion in assets (as of Jan. 31, 2013).
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