$100 Million Set Aside for Small Businesses at Level One Bank

Smalls businesses, pay attention.

, which has a branch in Ferndale, was selected by the U.S. Department of Treasury as one of six community banks to participate in a program that will bring more than $100 million in loans to small businesses.

"This program enhances what we are," Level One President and CEO Patrick Fehring said. "Through this, we'll be able to help businesses grow and recover from the last several years. We're very excited to help."

The loans come from the Treasury department's Small Business
Lending Fund. Level One Bank's program defines small business lending as working capital loans and owner-occupied real estate mortgages of up to $10 million to
 businesses with up to $50 million in annual revenues. Loans won't go toward real estate investments that aren't at least 51 percent owner occupied, Fehring said.

The program will run until the funds are depleted, Fehring said. "We're active in loan lending," he said of the bank before participating in the program. Last year, Fehring said, Level One Bank gave out $300 million in loans.

"Access to funds and capital is the lifeblood of a growing business," Fehring said.

Businesses interested in applying for one of these small businesses loans can visit any Level One Bank Branch and talk with a representative. The Ferndale branch is located at 22635 Woodward Ave. Or contact Jeff Taliscka, vice president, small business loan manager, at 248-737-3154 or jtalicska@levelonebank.com for inquiries.

"This is the value of a community bank," Fehring said. "You can talk to someone that will help you make the right decision."