On August 17, 2011, Wisconsin SBA District Director Eric Ness presented Forward Financial Bank, CEO and President Bill Sennholz, along with Dave Krause, Vice President with a plaque in recognition of Forward Financial Bank’s attaining Preferred Lender status with the Small Business Administration.
The Preferred Lenders Program (PLP) is another step in SBA’s process of “streamlining” the procedures necessary to provide financial assistance to the small business community. Under PLP, SBA delegates loan approval, closing, and most servicing and liquidation authority and responsibility to these carefully selected lenders. They are also required to have the ability to develop and analyze complete loan packages and a satisfactory performance history with SBA. Forward Financial Bank is one of these selected lenders.
“We at Forward Financial Bank have enjoyed working with the SBA in building our small business portfolio over the past 10 years. The program has allowed us to serve many small business members that may not have been able to get funding under conventional terms. The expanded authority of the PLP program will allow us to better serve our members and the communities in which we are located. We look forward to continued participation in the SBA programs as we look to the future,” said Bill Sennholz, CEO and President.
Forward Financial Bank was originally incorporated in 1919 as Marshfield Building and Loan with the mission of helping customers to build or buy houses. As time went on, the Building and Loan began to expand its mission and evolved to the bank it is today. Through 2007 and 2008, Forward Financial Bank expanded into the Greenwood, Thorp, Stanley and Withee communities. The newest office in the network opened in Medford in October 2010.
“From our beginnings as a Building and Loan, Forward Financial Bank has grown to offer lending support to small businesses in the area. Our mission is to help communities thrive in the areas that we operate in. We are dedicated to further the economic development in our rural markets through partnering with the SBA, area Economic Development groups, and directly with businesses,” commented Sennholz. This dedication has resulted in over $5 million in SBA lending to local businesses since Ocotber 2010.
These types of loans include SBA and other government loan programs. Their commercial loans meet both short and long term capital needs. You can expect prompt professional service with a personal touch from the business lending team at Forward Financial Bank.
“We are pleased to congratulate Forward Financial for attaining Preferred Lender status,” said SBA Wisconsin District Director Eric Ness. “PLP status will enable Forward Financial Bank to provide a quicker turnaround time to responding to requests to small business entrepreneurs seeking SBA guaranteed financing.”