Level One Bank is making a pool of $100 million worth of loans available to local small businesses.
The Farmington Hills-based bank will consider working capital loans and owner-occupied real estate mortgages of up to $10 million. Real-estate investment loans are not included. It considers businesses with less than $50 million in revenues to be small businesses and eligible for this new pool of money.
"The lending will be focused on the businesses in our area," says Patrick Fehring, president & CEO of Level One Bank
The three-year-old bank has been growing at an exponential rate in its first few years. It now has branches in Ferndale, Birmingham, Northville, Clinton Township, and two in Farmington Hills. It employs 86 people after adding 32 positions year-to-date.
"We're hiring fast and furious," Fehring says.
For information on the loans, please contact Jeff Taliscka at (248) 737-3154 or email@example.com
.Source: Patrick Fehring, president & CEO of Level One BankWriter: Jon ZemkeRead more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.