SEM Resource Capital Names Level One Bank Community Lender of the Year
Livonia, Michigan: Level One Bank, a Farmington Hills, Michigan based community bank, was named the Community Lender of the Year for 2011 by SEM Resource Capital. The award was based on Level One Bank’s participation with Resource Capital in making SBA 504 loans to Michigan businesses.
SBA 504 loans are used to finance the acquisition of fixed assets such as owner-occupied commercial real estate and capital equipment. The attractive terms of 504 loans are noted by business owners to be the low down payment requirement and low, fixed interest rate. On a typical project the bank will finance 50% of the project, the 504 loan will finance 40%, and the borrower injects 10%. Level One Bank has been a leader in offering this financing solution to Michigan businesses.
Mark Davis, Regional Manager for SEM Resource Capital reports, “Level One Bank is a leader in the market because they operate from a position of strength. They understand the capital needs of businesses, they have experienced bankers that know the market, and they deliver excellent services. They do a great job of shaping financing solutions to the specific needs of businesses and Resource Capital is proud to be a leading provider of 504 loans and services to the bank.”
About SEM Resource Capital
SEM Resource Capital specializes in making 504 loans. It is one of the largest Certified Development Companies (CDC) in Michigan with offices in Livonia and Grand Rapids. Visit us on the Web at www.sem.resourcecapital.com
About Level One Bank
Level One Bank is a full service, 5-Star BauerFinancial rated commercial and consumer bank with the sophistication of a big bank, the heart of a community bank and the spirit of an entrepreneur. Level One’s Commercial Division provides a complete menu of products including lines of credit, term loans, commercial mortgages, SBA loans, Export-Import Financing and a full suite of Treasury Management services. Level One Bank is headquartered in Farmington Hills and has Banking Centers in Farmington Hills, Northville, Clinton Township, Ferndale and Birmingham.