Traverse City State Bank's assistant VP, Mitchell Blue, is being recognized by a Michigan organization as its lender of the year.
The Economic Development Foundation in Grand Rapids announced Blue, who is assistant VP of commercial lending and SBA product manager for Traverse City State Bank, was given the foundation's Small Business Administration 504 Lender of the Year award.
"We are all very proud to have Mitchell as part of our team at Traverse City State Bank. He joined the bank in 2009 and was able to quickly get the other lenders and staff up to speed on SBA lending programs and procedures," says Connie Deneweth, CEO and president of the bank. "Mitchell is a leading SBA lender in our community."
Blue got the award for his work with small businesses, helping them to finance fixed assets from the SBA 504 program. The program creates a partnership between a small business, a lending institution (like Traverse City State Bank) and the Small Business Administration, to allow the business to get lower interest rates, smaller down payments, and longer terms than are usually granted through commercial financing.
He was praised for leadership and resourcefulness in his SBA work. The EDF partnered with Blue to help small businesses trying to create and retain jobs in Michigan through the 504 loans.
"We need bankers like Mitchell that help the state of Michigan back to economic recovery by lending money to small businesses that are expanding," says EDF President Sandy Bloem. The EDF is a nonprofit organization that helps facilitate small business and other development at a local level.
Traverse City State Bank was founded in 2000 and has its headquarters in Traverse City.
Writer: Sam EgglestonSource: Connie Deneweth, Traverse City State Bank
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