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Administration (SBA). Associated Bank is a leading SBA lender in Wisconsin, says Weber. The U.S. Department of Agriculture also offers loans for businesses that can demonstrate they will create jobs, Weber says, although Associated is not a very active participant in that program. New players are also getting into lending. The Green Bay Area Chamber of Commerce has an economic development arm, Advance, which provides some lending to companies which haven't qualified for bank loans. The Door County Economic Development Foundation in January incorporated COIN – Community Opportunity Investment Network – which will pool funds and combine loans with business education and mentoring. It is six to 12 months away from raising funds for the program. Bankers are cautiously optimistic about 2013, partly because 2012 was so miserable. The nearly endless presidential election process, "Optimism is building, and there is an incredible amount of cash in the system. We have a tremendous amount of liquidity to lend, and private equity firms have tremendous amounts of capital." – G o rd y Weber, exec u tive v ice president o f co mme rcial ban kin g for A ssociated B an k arguments in Washington over the deficit, budgets, health care and taxes, and the political turmoil in Wisconsin cast a gloomy pall over the entire year. Business owners across the state were mildly depressed most of the year and then mildly surprised when they looked at their results and realized they had done pretty well financially. Business still faces a lot of uncertainty, says Weber, but the outlook is more positive than was expected a few months ago. "Optimism is building, and there is an incredible amount of cash in the system. We have a tremendous amount of liquidity to lend, and private equity firms have tremendous amounts of capital. Some of the prices for businesses are moving up to pre'07 numbers, which makes it attractive for an owner to sell his company at high multiples." Langan agrees on the outlook. People are yearning for some stability and clarity, he observes. "There is a fair amount of momentum and people are starting to become a bit more aggressive in thinking about growing. They see opportunity." His insights have helped shape economic and financial policies on a global scale. Now you can find him at Legacy. Paul L. Kasriel is Senior Economic and Investment Advisor for Legacy Private Trust Company and former Chief Economist at The Northern Trust Company. Paul is a highly regarded economic researcher whose forecasts and Econtrarian perspectives have helped form economic policy at national and global levels. He and the Legacy wealth management team focus on providing innovative investment solutions that can help you reach your financial and retirement goals. Visit www.lptrust.com to read Paul's commentaries and out-of-the-box perspectives on the economy and financial markets. To learn more about Legacy's suite of wealth management and investment services, please contact Michael B. Mahlik, 920.967.5040. www.lptrust.com 12263_LPT_KasrielAd_Insight_hor_1 1 w w w. i n s i g h t o n b u s i n e s s . c o m Two Neenah Center, Fifth Floor Neenah, WI 54956 920.967.5020 Asset MANAgeMeNt | WeALtH PLANNiNg | trust services 1/22/13 2:35:48 PM F e b r u a r y 2 013 • Insight | 31