WATERFORD, Mich., March 07, 2016 (GLOBE NEWSWIRE) -- Clarkston State Bank is pleased to announce the addition of Barry Boozan to their commercial lending team. As the Bank’s SBA Lending Specialist, Barry’s main focus will be assisting businesses achieve their financing needs with loans backed by the Small Business Administration (SBA). In an effort to provide a variety of options to its commercial clientele, the SBA loans are an alternative funding source versus conventional loans. SBA loans allow for less equity to be put into a project and longer amortizations on the loan; resulting in business owners being able to use their cash to grow revenue for their business.
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Barry is working at the Waterford branch located at 6600 Highland Road in Waterford, MI directly in front of the Oakland County Airport. This location includes a full-service branch with a drive-up ATM and 3 drive-thru windows. In addition, the Bank’s lending team and back office support and senior executives are housed at that location.
Barry has over ten (10) years’ experience in SBA lending and has recently assisted Clarkston State Bank in receiving the prestigious SBA Preferred Lender status which allows the Bank to make loan decisions on behalf of the SBA resulting in an expedited loan approval process. Barry enjoys working with small businesses to assist them in obtaining the funding they need. He previously worked for Bank of Michigan where he was Senior Vice President of SBA Lending. Barry has a Master’s Degree in Finance from Walsh College and an Undergraduate Degree from Central Michigan University.
“Barry is a great addition to our Commercial Lending team and his experience in SBA Lending will provide another financing alternative for our customers,” stated J. Grant Smith President and CEO. “The Bank continues to look for lending opportunities in Oakland County as well as much of Southeast Michigan including Macomb, Livingston and Genesee counties.“
Clarkston State Bank opened in January 1999 and operates two branches in Clarkston and Waterford, Michigan.