CHICAGO – August 2024 - First American Bank is honored to receive the U.S. Small Business Administration’s (SBA) 2023 Illinois CAPLine Lender of the Year award. This marks the third consecutive year the bank has earned this accolade, highlighting its ongoing commitment to providing working capital solutions to small businesses.
Presented during the Illinois Lender Awards ceremony on August 1, 2024, the CAPLine Lender of the Year award recognizes the lender that best supports small business clients through the program. Evaluation criteria include the quantity and dollar amount of government-backed loans issued by each candidate and usage of the SBA’s Seasonal, Contract, Builders, and Working Capital CAPLine loan programs.
“It’s an honor to be named Illinois’s SBA CAPLine Lender of the Year for the third straight year,” said James D. Matteson, First Vice President and SBA Program Manager at First American Bank. “We strive to provide our customers with the best options for their specific financing needs. Whether clients seek a term loan to buy new machinery or financing for a working capital gap, First American Bank has the expertise to tackle a variety of requests.”
The SBA CAPLine Program helps small businesses meet their short-term and cyclical working capital needs, and First American Bank’s specialized SBA loan team provides small business customers with tailored financial solutions and decades of commercial lending expertise. As an SBA Preferred Lender (PLP), the bank offers expedited access to 7(a) loan options, including export-related loans and term loan needs.
This year, First American Bank is also participating in the SBA’s new Working Capital Pilot (WCP) program, a program within the SBA 7(a) loan program that offers monitored lines of credit for use in either domestic and/or international transactions. In addition to being a three-time award winner, First American Bank is part of a select group piloting this SBA program with PLP status. With this new credit facility’s modernized rules for underlying financing and fee structure, First American Bank is able to offer another working capital option to its customers.
“Not only does the CAPLine Program support facilities up to $5 million in combined transactions, at First American Bank, we make the process quick and easy,” noted Matteson. “As one of the few active lenders under this program across the U.S., we’re committed to providing small companies—companies that are vital to communities and the economy—with working capital so that they can thrive and grow.”
Contact First Vice President and SBA Program Manager, James D. Matteson at (847) 586-2629 or [email protected].
About First American Bank
First American Bank is a full-service bank with $7 billion in assets and 60 branches and offices serving Miami, Tampa, Chicago, and Milwaukee. They are committed to creating solutions, providing exceptional customer service, and providing unmatched expertise in commercial banking, wealth advisory, and personal finance solutions.
