FINANCE
Oak Valley Community Bank | January 10, 2023
On 09 January 2023, Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp, was recognized as the "Most Active SBA 504 Lending Partner" by Success Capital - Certified Development Corporation and the "Most Loan Guarantees Funded & Largest Total Dollar Aggregate Funded" by Valley Small Business Development Corporation during the most recent Success Capital and Valley Small Business fiscal years.
Oak Valley’s team offered $13 million in SBA 504 loans through Success Capital, and it aided the funding of $27 million in total projects, resulting in the creation or retention of approximately 100 small business jobs. Oak Valley Community Bank winning the "Most Active SBA 504 Lending Partner" award marks its 7th consecutive win. In addition, senior vice president and commercial banking officer Jeff Hushaw received the accolade of "Most Active 504 Lender" in 2022, both of which cover lending activity in San Joaquin, Merced, Stanislaus, Tuolumne, Mariposa, and Calaveras Counties.
It is the first time the bank has received the Valley Small Business accolade. The Oak Valley team funded over $3.5 million in Valley Small Business guaranteed loans for the year.
The SBA 504 and Valley Small Business lending programs offer loans to develop small businesses. Success Capital offers low down payment and fixed-rate financing via the SBA 504 Loan Program for business owners to purchase or construct facilities for their businesses. Similarly, Valley Small Business facilitates direct lending and guarantees loans to small businesses or family farms to ensure increased access to capital.
About Oak Valley Community Bank
Headquartered in Oakdale, Oak Valley Community Bank specializes in commercial lending, commercial banking, SBA lending, business banking, small business lending, agricultural lending, treasury management, commercial real estate financing, CRE lending, and Ag Lending, offering its plethora of products to individuals and small businesses. With 30 years of history, it has transformed from a single-branch operation in Oakdale to 18 locations and nearly $2.0 billion in assets.
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FINANCE
Merchants & Marine Bank | January 17, 2023
Merchants & Marine Bancorp, Inc., a century-old banking institution established in Mississippi, has introduced Voyager Lending, a division focused on providing small business owners with lending solutions.
Voyager Lending is led and staffed by industry professionals. The staff cares about the community and tries to give borrowers knowledgeable and personalized service. It makes lending easy and gives people access to money they wouldn't have otherwise!
President and CEO of Merchants & Marine Bancorp, Clayton Legear, said, “Our company’s commitment to small business owners reaches beyond standard banking services and has been a priority for us for more than 100 years.” He added, “You achieve a legacy of that nature by creating partnerships with leaders who are committed to growing the local economy by investing in the communities we serve. Voyager Lending’s mission to secure financing for entrepreneurs and small business owners is exactly that. This lending division is a direct reflection of our philosophy, and we’re very proud to offer financial expertise to partners who are working towards the same vision.”
(Source – Business Wire)
Voyager Lending is excited to provide a diverse range of small business owners with competitive products that the United States government backs via the Small Business Administration and the United States Department of Agriculture.
The company offers loans to pay for buying a business or a piece of real estate, buying out a partner, buying equipment, getting a business started, and paying bills. It is committed to growing communities and enhancing the local economy by aiding small business owners that need funding.
About Merchants & Marine Bancorp, Inc.
Merchants & Marine Bancorp, Inc., is a Mississippi-chartered community bank serving the Gulf South region. Initially formed in 1899, the bank was revived in 1932 during the Great Depression, the most significant economic disaster in the history of the United States. In over eight decades, the bank has grown from $25,000 to over $700 million in assets and from 2 offices to 16 offices servicing Mississippi & Alabama Gulf Coast and Mississippi Pine Belt.
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MANAGEMENT
AutoStore | January 11, 2023
On January 10, 2023, AutoStore, one of the leading warehouse automation companies in the world, announced the debut of Pio in North America. Pio is a plug-and-play version of AutoStore's popular cube storage technology, designed specifically for small and medium-sized businesses (SMBs).
Based on a pay-per-pick service model, Pio enables SMBs, such as retailers of sporting goods, apparel, crafts, and cosmetics, to adopt robotic automation for a relatively cheap investment, thereby helping more businesses obtain access to the world's most advanced automation technology.
Mats Hovland Vikse, CEO of AutoStore, said, "We established Pio to make our technology available to smaller businesses," He also added, "Only 15 percent of the world's warehouses are automated, and fulfillment operations at smaller retailers are still largely manual. Pio levels the playing field so that enterprises of all sizes can take advantage of the space and cost efficiencies of automated storage and distribution systems."
(Source – Globe Newswire)
Retailers pay a fee for each item picked. Software, robots, and ports used in the automation are owned and maintained by Pio. Users simply need to acquire product bins and the robots' running frames. A Pio facility is modular and expandable and works on standard plug-and-play software that integrates with the most prevalent online retail and shipping platforms. In effect, Pio enables small and medium-sized businesses to compete with much larger businesses with minimal capital expenditures, increased staff, and floor space requirements.
About AutoStore
Founded in 1996, AutoStore is a robot technology company that developed and continues to innovate Cube Storage Automation - the most compact product/inventory storage solution. The company intends to combine software, hardware, and human capabilities to build the future of warehouse management. AutoStore is a multinational corporation with over a thousand systems installed in 46 countries and a variety of sectors. All sales are developed, installed, and supported by a network of authorized system integrators. The company is headquartered in Nedre Vats, Norway, with offices in offices in the United States, Oslo (Norway), the United Kingdom, Germany, South Korea, Japan, France, Spain, Italy, Austria, and Singapore
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