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businesses," she says. "They play a vital role in helping businesses looking to expand." The majority of SBA loans awarded fall into the 7-A category and can be used to purchase equipment and buildings or fund a construction project. With the SBA willing to cover up to 90 percent of the loan if the borrower fails to make payments, more financial institutions are willing to work with businesses. From April through October in Wisconsin, the SBA provided funding for 1,405 loans for a total of $468 million. "The SBA had its best two years ever in fiscal 2011 and 2012 nationwide when it comes to awarding funding," says Jeff Sheffler, government guaranteed lending program manager for Associated Bank. "The SBA has made a lot of changes designed to get money in the "SBA loans are just one of the pieces in our toolkit to help businesses. They play a vital role in helping businesses looking to expand." –Wenda Roycraft, senior vice president with First National B ank-Fox Valley hands of business owners. They're really trying to work with lenders to make their programs better." While SBA loans can be used for funding in any business sector, manufacturing definitely leads the way in northeast Wisconsin, says Michael Vogel, vice president of commercial banking with Nicolet National Bank. He says manufacturers are growing and have tangible assets to use as collateral – two factors lenders like to see in its borrowers. "We've been pretty active with SBA loans. The process has been streamlined in recent years, which gives us an opportunity to make more loans and leads to economic growth," Vogel says. If a financial institution is designated as a preferred SBA lender, it can make the decision on granting the loan based on preset national criteria. If the financial institution is not a preferred SBA lender, it then works through a certified development company like Great Lakes Asset Corp. in Green Bay to get the loan done. Great Lakes Asset Corp. saw borrowing increase last [continued] » New tax laws ahead. We'll help guide you through the maze of recent changes in tax laws, IRS procedures, investment strategies, compliance, and health care laws. Don't get lost in the chaos. Call Alberts & Heling today. Alberts & Heling CPAs, LLC www.alberts-heling-cpas.com Green Bay: 920 405 8549 Fox Valley: 920 886 2241 Securities offered through Woodbury Financial Services, Inc. Member FINRA, SIPC. PO Box 64284, St. Paul MN 55164-0284, (800) 800-2638. Alberts & Heling CPAs and Woodbury Financial Services, Inc. are not affiliated entities. w w w. i n s i g h t o n b u s i n e s s . c o m D e c e m b e r 2 012 • Insight | 31