Independent Banker - November 2023 - 22

PORTFOLIO
FOCUS LENDING
8 ways to boost your
small business lending
Small businesses and community banks are a perfect pairing. Community
banks play a key role in giving small businesses needed capital and
guidance so they can survive and thrive. By Beth Mattson-Teig
mall businesses are the
backbone of the American
economy-but there is nothing
" small " about their financial
muscle. The more than 33 billion
small businesses in the country
employ 61.7 million people-
nearly half of all private sector
employees, according to the Small
Business Administration (SBA).
Those customers bring significant
business for community banks
S
on both sides of the ledger: loan
products and deposits.
" When you think about a small
business relationship, what is
amazing is that they can use almost all
of the financial services that we offer
across the bank, " says Matt Vegter,
director of small business banking at
$45 billion-asset SouthState Bank in
Winter Haven, Fla.
Small business customers represent
about one-third of SouthState's deposit
base. In addition, the community bank
offers personal banking services for
both owners and employees.
" So, [small business customers]
are extremely important, and we are
continuing to invest more and more
in our small business offerings, "
Vegter says. SouthState recently
launched a comprehensive small
business banking team to meet the
growing demand in its southeastern
U.S. footprint.
Community banks also recognize
that small business customers have
the potential to grow into bigger
businesses with bigger financial
needs. " We want to be that stepping
stone to help them graduate from SBA
and move on to more conventional
lending, " says Ashley Horner,
executive vice president and SBA
division president at $1 billion-asset
Summit Bank in Eugene, Ore.
Tips for optimizing small
business lending
Here are eight tips and best practices
22 // ICBA Independent Banker // November 2023
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Independent Banker - November 2023

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

Contents
Independent Banker - November 2023 - Intro
Independent Banker - November 2023 - Cover1
Independent Banker - November 2023 - Cover2
Independent Banker - November 2023 - Contents
Independent Banker - November 2023 - 2
Independent Banker - November 2023 - 3
Independent Banker - November 2023 - 4
Independent Banker - November 2023 - 5
Independent Banker - November 2023 - 6
Independent Banker - November 2023 - 7
Independent Banker - November 2023 - 8
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Independent Banker - November 2023 - 11
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Independent Banker - November 2023 - Cover3
Independent Banker - November 2023 - Cover4
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