ALPENA, Mich. — The U.S. Small Business Administration named mBank community lender of the year in Michigan.
A local mBank representative spoke to us about the positive impact the Payroll Protection Program has had on Alpena small businesses. The award recognized the SBA lender in Michigan that offered services and engaged in activities that promoted community development.
According to Senior Vice President, Greg Schuetter, in 2019 mBank supported SBA initiatives with approximately 20 million dollars in loans.
Senior Vice President of Commercial Banking in Alpena, Jerry Tracey, explained the positive impact their loan program had in Alpena. Tracey sayid several million dollars have been invested into several local businesses allowing them to benefit from the lending program.
With COVID–19 presenting another threat and the payroll protection program no longer in effect, Tracey encourages small businesses to remain positive. He said he wants to help his clients succeed and grow and encourages small businesses to look at different financial options.