Larry Schwenn, senior vice president, business development officer, Bank of Sun Prairie, has been named 2019 WBD Elite Lender.
This honor signifies his work to provide small business owners with U.S. Small Business Administration (SBA) loans 10 or more times. He is one of three bankers from within the WBD region across Wisconsin, Twin Cities in Minnesota and Upper Peninsula in Michigan joining the Elite Lenders Club this year.
Schwenn has collaborated with WBD 13 times to help businesses access the long-term, low-rate fixed financing available by utilizing the SBA 504 program for purchasing fixed assets such as buildings or equipment for expansion or modernization. His efforts have secured more than $30 million in total project financing for these Dane and Sauk County-based businesses that grew from 130 to nearly 240 jobs due to the expansions.
“WBD has helped thousands of businesses and worked with hundreds of banks and lenders, but those who earn their way to being WBD Elite Lenders have shown a consistent dedication to serving the best interests of the businesses they work with by utilizing the SBA 504 program,” said WBD CEO Dan Schneider.
Ron Blawusch, Bank of Sun Prairie’s executive vice president and chief lending officer, said Schwenn deserves the honor.
“He works tirelessly to advance small business success in our area. We’re so proud to contribute to the growth of our communities in this way. In fact, Bank of Sun Prairie’s team of expert business lenders have partnered with WBD through the 504 program close to 30 times representing nearly $60 million going to small businesses for expansions or additions of capital assets,” Blawusch said.
“Larry is an instrumental business development leader for Bank of Sun Prairie and a true partner to WBD through the 504 program. I am proud to work side by side with Larry every day.”
WBD Vice President and Loan Officer Nick Drewsen knows Schwenn as a banker and a WBD employee.
“He is a talented banker who always looks out for what is best for his customer and offers them the best financing structure to meet their individual needs,” Drewsen said.
Schwenn worked for WBD for nine years and had deep knowledge of the SBA 504 program and how it can help businesses succeed.