From staff reports
Traverse City Record-Eagle
---- — TRAVERSE CITY — The Bank of Northern Michigan has been recognized as the U.S. Small Business Administration’s Michigan SBA Diversity Lender of the Year.
This award is given to the bank that best demonstrates a commitment to providing guidance and capital to Michigan businesses owned by veterans, women, and minorities.
“The Bank of Northern Michigan takes great pride in helping these small businesses succeed,” said Brad Dyksterhouse, a bank senior vice president, in a press release. “We are uniquely positioned to use our extensive expertise, SBA Preferred Lender and Patriot Express Lender statuses, and targeted events to focus specific attention on lending to military veterans, women, and minorities.”
Allen P. Cook, Assistant District Director, U.S. Small Business Administration Michigan District Office, cited the following rankings that led to The Bank of Northern Michigan’s selection for this statewide award, the bank’s press release stated:
n #1 for percentage of loans made to veteran-owned businesses;
n #1 for percentage of loans made to women-owned businesses;
n #5 for percentage of loans made to minority-owned businesses;
n #1 overall for percentage of total loans made to these historically underrepresented groups.
SBA officials officially were to honor The Bank of Northern Michigan today at 9 a.m. at its 130 South Union Street, Traverse City location.
The Bank of Northern Michigan, and its sister bank, The Bank of Holland, together consistently rank in the top 1% of all banks in the nation in SBA lending and have achieved the highest lending statuses with both SBA and USDA.
The Bank of Northern Michigan opened in 2000 in Petoskey and expanded into Traverse City in 2006. The Bank of Northern Michigan, with current assets of $348 million as of April 2013, is a full service, community-based financial institution.