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NAGGL Recognizes 44 Business Capital as Veteran Small Business Lending Champion

November 25, 2014, 07:04 AM

44 Business Capital recently received The National Association of Government Guaranteed Lenders (NAGGL) Champion of Veterans Small Business Lending Award for exemplary efforts in its commitment to providing brave servicemen and women of America with critical access to capital as they return home and transition back to civilian life. NAGGL announced the award on Veterans Day November 11, 2014. 44 Business Capital’s President Greg Poehlmann, will accept the award at NAGGL’s National Conference, spring 2015 in San Antonio, TX.

Last August, 44 Business Capital took the U. S. Small Business Administration’s Veteran Pledge, a commitment to increase lending activity to veterans by five percent per year for the next five years. 44 took steps to support our Veteran clients by streamlining services, dedicating staff to the SBA loan process, and marketing the businesses of our Veteran borrowers. In FY 2014, three Veteran small businesses received financing from a 7(a) loan facilitated by 44 Business Capital in the amount of $3,270,000.

“One of our standout client successes is Sean Danowski, a Veteran of both Operation Iraqi Freedom and Operation Enduring Freedom.” said 44 President Greg Poehlmann. “Sean was looking to acquire an existing business upon graduating with a degree in Entrepreneurial Management from the Wharton School of the University of Pennsylvania.” Said Poehlmann. According to Poehlmann, after an exhaustive search, Sean identified the ideal target, a custom molding manufacturer in Montgomery County, PA. 44 Business Capital and its parent bank (Parke Bank) were able to structure an SBA 7a loan that provided this Veteran the capital he needed.

"During my search for funding to acquire an existing business I dealt with a number of banks that claimed to go 'above and beyond' in their support for Veterans, but all of them refused to look past my lack of industry experience.” Said Sean Danowski, owner of Vetro Molding and Design. “Phil Martin and the team at 44 Business Capital truly valued the military experience and education that I brought to the table, and their support is a major reason why I am a business owner today." said Danowski.

44 Business Capital is a subsidiary of Parke Bank which is a preferred SBA direct lender serving Philadelphia, Pennsylvania, New Jersey, Delaware, Baltimore MD, Northern VA, and Washington DC.

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