OAK BROOK, Ill.–(BUSINESS WIRE)–Inland Bank and Trust (“Inland Bank”) is pleased to announce the closing of two commercial term loans totaling $1.6 million for an Inland Bank Financial Advisor Loan Program client with offices in Maryland and Montana. Tiffany Tyson, vice president – commercial lending with Inland Bank, originated both loans.
A financial advisor within the firm sought the initial loan to acquire a portion of the company’s client database. This provided the owners of the practice flexibility to subsequently complete an external acquisition, funded by the second loan, to expand their business into a third practice.
“Inland Bank was pleased to assist with this commercial term loan that helped our client to successfully expand their business,” said Tyson. “We work with financial advisors interested in growing their business, reducing the rate on their current debt, obtaining a fixed rate, or looking for a bank that offers a holistic approach customized to fit their needs.”
Launched in January 2018, Inland Bank’s Financial Advisor Loan Program was established to help independent financial advisors grow their business and client base through the acquisition of another financial advisor’s book of business, via partner buy-outs or debt refinancing. Serving financial advisors across the nation, the program provides conventional loans at a substantially lower and fixed rate than the SBA 7(a) loan program as well as flexible structures and favorable pricing and terms.
Since inception, the Inland Bank Financial Advisor Loan Program has funded nearly $20 million in loans to financial advisors located in Alabama, Arizona, California, Colorado, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Texas and Wisconsin.
About Inland Bank and Trust
Inland Bank and Trust, a subsidiary of Inland Bancorp, Inc., has locations in Chicago, Countryside, Geneva, Glen Ellyn, Hawthorn Woods, Lake Zurich, Lombard, Morton Grove, Villa Park, Westchester and Wheeling. Inland Bancorp, Inc. holds over $1.2 billion in bank assets.