Insight on Business

32 | I NSIGH T • S e p t e m b e r 2 0 2 0 w w w . i n s i g h t o n b u s i n e s s . c o m Temperature Monitoring Kiosks Keep employees and customers safe with touchless temperature readers $50 savings per unit when you mention this ad! Call (920) 435-5353 or email contactus@cccp.com for quotes and availability Demo units in store to see in action! Meridian Temperature Kiosk MSRP: $3,100 Normal: $2,650 Sale: $2,600 Havrion Thermal Device MSRP: $3,299 Normal: $2,850 Sale: $2,800 *Havrion software f ree until Sept. 30. $199/year following f ree period. Pricing and availability subject to change. insider c o n t i n u e d them, says President and CEO Jeff Bowman. "We had people calling us right away saying, 'I don't know if I'm going to have a business,'" he says, noting that the bank's customers include hotels, restaurants and taverns. All told, Bay Bank funded more than 100 loans for a total of $13 million. To fund a loan, banks must have cash, so Bay Bank had to raise that cash in addition to navigating a new system, all while documenting and closing loans. As one of only a few banks in Wisconsin to hold the Community Development Financial Institutions designation, Bay Bank was selected for inclusion in a Wisconsin Economic Development Corp. grant program. WEDC granted Bay Bank $427,000, which the bank then granted to small businesses. rough the program, the bank made grants to 45 small businesses, with an average grant size of about $9,500. e bank, which is owned by the Oneida Nation, underwrote 98 grants for Oneida small businesses that were adversely impacted by the pandemic. "(e CDFI designation) is a badge of honor you own to show you've made financial investments in companies and people," Bowman says. Peace of mind For Chris Lindemann, president of Wisconsin Fastener Supply in Manitowoc, the PPP money and the trust he had in Investors were invaluable. Anxiety ran high in mid-March at his industrial supply business, which employs about 17. Lindemann's banker at Investors helped him complete the PPP application on a Friday. e banker assisted with a question that arose the next day, and by Sunday Lindemann received a text "We had people calling us right away saying, 'I don't know if I'm going to have a business.'" — Jeff Bowman, president and CEO, Bay Bank [continued ] » W W W. I M M E L C O N S T R U C T I O N . C O M E M P L O Y E E O W N E D General Contractor Industrial/ Millwright Construction Management Pre-Engineered Buildings Historic Restoration Pre-Construction Services Cost Estimating P R O V I D I N G S E R V I CE S O F T H E H I G H E S T Q UAL I T Y

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