Independent Banker - May 2023 - 42

Although Architectural Metals had
good cash flow, it lacked the collateral
needed to qualify for a conventional
small business loan. First Bank of
the Lake was able to underwrite the
loan thanks to the SBA guarantee,
which backs 75% of the risk. " The
bank was great to work with, and
they really understood how this was
a great opportunity for me, " says
Egner. He's taking advantage of the
booming growth in Florida and plans
to continue to expand the 20-person
business in the future.
Community banks have long
played an important role in helping
entrepreneurs and small business
owners access SBA 7(a) and 504
loans that provide critical capital to
start and grow their businesses, as
well as weather economic challenges.
According to the SBA, more than
1,600 financial institutions originated
$25.7 billion in 7(a) loans and
another $9.2 billion in 504 loans
in 2022.
Many in the industry credit the
surge in Paycheck Protection Program
(PPP) lending in 2020 and 2021
with spurring more community bank
involvement in SBA lending. " PPP
put SBA in front of everybody in a
way that it never has been before, "
says Annemarie Murphy, executive
vice president and president of SBA
lending at $525 million-asset First
Bank of the Lake.
Although the PPP was created
as a separate financing program,
it was essentially built on top of
the existing 7(a) program. Banks
processed their PPP loans on the
SBA's E-Tran system, which is the
same system that preferred SBA
lenders use. Providing PPP loans
allowed many community banks to
" learn the ropes " and develop a skill
set that they could transfer into the
7(a) program, notes Stephen Keen,
vice president of congressional
relations at ICBA. " We have seen an
uptick in the number of community
banks participating in the SBA 7(a)
program, " he says.
Above: Travis C. Rouse, senior vice
president and chief sales and lending officer
at M&F Bank, says that the community bank
is expanding its SBA lending team with the
goal of providing more capital to businesses,
many of which are minority-owned.
" We hope that a dedicated team will really
help us ramp up our ability to put capital in
the hands of businesses, and in a lot of cases,
minority businesses. "
-TRAVIS C. ROUSE, M&F BANK
One of those banks is M&F Bank
in Durham, N.C. The $400 millionasset
community bank was an active
participant in the PPP, helping to
originate about 800 loans totaling
more than $35 million. And it's
now in the process of scaling up
its SBA lending business. " That
gave us a stepping stone to some
new relationships that we didn't
have before, and it also gave us
an opportunity to become more
comfortable using SBA, " says Travis
C. Rouse, senior vice president and
chief sales and lending officer.
M&F Bank currently has seven
42 // ICBA Independent Banker // May 2023

Independent Banker - May 2023

Table of Contents for the Digital Edition of Independent Banker - May 2023

Content
Independent Banker - May 2023 - Cover1
Independent Banker - May 2023 - Cover2
Independent Banker - May 2023 - Content
Independent Banker - May 2023 - 2
Independent Banker - May 2023 - 3
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