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<April 2015>



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Competitive Marketplace Creates Small Business Commercial Loan Opportunities

By: Robert A. Vandenbergh

This is a great time for business owners to apply for a commercial loan. Renewed desire by banks to generate quality earning assets and stimulate their local economies is creating increased competition amongst the largest lending institutions and the mid-size local community banks. This industry phenomenon is creating new loan options, more flexible underwriting and accelerated business development activity; all of which create attractive opportunities for healthy businesses.

Recognizing this trend, the largest institutions are promoting themselves as a local community bank and are attempting to streamline their lending procedures and improve upon their customer services capabilities.

But this is where local community banks continue to have an advantage over the largest institutions. Community banks, like Lakeland Bank, know their customers personally and have always placed a tremendous emphasis on their relationships. They take the time to understand their customer's unique banking needs and can design customized financial solutions to address them. It’s their unmatched customer service that has always differentiated community banks from larger lending institutions.

For aggregate borrowing needs up to $250,000, our branch managers and Small Business Lending Specialists will assist borrowers through a streamlined application process. Some examples of situations in which business owners would qualify for our “Fast Track” process include equipment financing, working capital to purchase inventory or to support accounts receivable growth due to increased sales.

Community banks are better positioned to support the small local business market and Lakeland Bank is committed to delivering on its promise of; "We're Simplify Banking".

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