SBA’s Markowitz Visits Green Bay Area Business

Fox Converting Benefits from Financing Opportunities during Wisconsin’s SBA Record Lending Year

GREEN BAY:  Marianne Markowitz, Region V Administrator was in Green Bay on November 15, 2011 touring Fox Converting, a paper converting company.  Wisconsin loans guaranteed by the U.S. Small Business Administration to small businesses and entrepreneurs resulted in record lending for  fiscal year 2011, which ran from October 1, 2010 to September 30, 2011, as a result of loan enhancements first put in place under the Small Business Jobs Act of 2010 signed by President Obama on September 27, 2010.

In FY 2011, Wisconsin SBA supported $835,220,100.00 (2,025 loans) in lending to small businesses, compared to more than $549 million (1,751 loans) in fiscal year 2010.  Of the $835 million in dollar loan volume, over $389 million (739 loans) were made under the President Obama’s Small Business Jobs Act. 

In the Green Bay area, SBA did 110 loans in FY2011 for an amount of $61,053,600.00, creating 349 jobs. 

 WHO:       Marianne Markowitz, SBA Region V Administrator

                  Eric Ness, Wisconsin SBA District Director

                  Gordon Renn, President of Fox Converting

                  Cindy Esterling, Great Lakes Asset Corporation

                  Craig Aderhold, Heartland Business Bank

 WHERE:   Fox Converting, 1250 Cornell Road, Green Bay