ChoiceOne Bank Honored with 2023 Lender of the Year Recognition

ChoiceOne Bank Achieves Prestigious 2023 Lender of the Year Award

ChoiceOne Financial Services, Inc. and its banking division, ChoiceOne Bank (NASDAQ: COFS), have received accolades from the Michigan Certified Development Corporation (MCDC) by being named the 2023 Lender of the Year. This recognition highlights the bank's unwavering commitment to the economic growth of local communities through support for small business financing.

Celebrating Individual Excellence

In addition to the overall recognition, Bradley Bissett, Vice President and Commercial Loan Officer at ChoiceOne, was personally honored as the MCDC 2023 Individual Lender of the Year. This acknowledgment emphasizes the impact of individual contributions within the lending community and illustrates ChoiceOne's dedication to excellence in service.

A Commitment to Community

ChoiceOne's Executive Vice President and Chief Lending Officer, Bradley Henion, expressed pride in the bank's achievements stating, "Winning the MCDC 2023 Lender of the Year Award is a testament to Aaron Griffin's dedication and outstanding work ethic. Our goal has always been to foster strong relationships with entrepreneurs and small business owners, focusing on promoting business expansion and economic development within our communities."

The Importance of SBA Loans

In a competitive market, the SBA 504 loan program stands out as a valuable tool for business owners looking to grow. Unlike traditional loans, the SBA 504 loan is government-backed, enabling borrowers to access favorable terms that can help them expand their operations and invest in critical resources.

Tailored Solutions for Local Businesses

Eric Kehler, Vice President of SBA 504 Lending at MCDC, noted ChoiceOne’s exemplary performance as a top lending partner, particularly showcasing their innovative and client-focused approach to lending solutions. Their success in the 2023 SBA 504 Loan Program exemplifies their deep understanding of borrower needs, setting a high standard for the industry.

Spotlight on Bradley Bissett

Since joining ChoiceOne in 2022, Bissett has made remarkable contributions, leveraging nearly two decades of experience in commercial lending. Having served in significant roles, including Chief Credit Officer, Bissett’s background equips him to make informed decisions that drive client success. His academic credentials from Central Michigan University and additional training at the Graduate School of Banking in Madison, Wisconsin further underscore his expertise.

Community Involvement and Service

Beyond his professional responsibilities, Bissett is dedicated to giving back to his community by participating in local economic development initiatives and volunteering in youth sports programs. His commitment to fostering relationships extends beyond banking, ensuring a holistic approach to community service.

The Impact of ChoiceOne’s Lending Programs

Aaron Griffin highlighted that ChoiceOne’s mission is to understand the unique challenges faced by small businesses. The bank's SBA 504 loan program, which provides long-term, fixed-rate financing for various significant assets, has helped numerous customers secure the resources they need to grow. In 2023, ChoiceOne Bank was recognized as the community bank with the highest volume of SBA 504 loans transacted with MCDC.

Achievements Reach Beyond Awards

Earlier this year, the bank was also celebrated as the SBA Michigan District 504 Third-Party Lender of the Year, further solidifying its reputation as a trusted financial partner for small businesses. With a total of seven SBA 504 loans comprising nearly $7 million, ChoiceOne is poised to continue its supportive role in the local economy.

About the Michigan Certified Development Corporation

Founded in 1982, MCDC serves as the premier partner in facilitating SBA loans across Michigan, helping thousands of small businesses gain financial support and achieve growth goals. Their mission is to power economic development and job creation throughout the state.

About ChoiceOne Financial Services

ChoiceOne Financial Services, Inc. operates from its headquarters in Sparta, Michigan, and is a respected financial holding entity. With 35 branches across multiple counties, it has established itself as a significant player in the Michigan banking landscape. Through its subsidiary, ChoiceOne Insurance Agencies, Inc., the company provides not only banking services but also insurance and investment solutions.

Frequently Asked Questions

What award did ChoiceOne Bank receive in 2023?

ChoiceOne Bank was honored with the MCDC 2023 Lender of the Year Award.

Who was recognized as the Individual Lender of the Year?

Bradley Bissett received the MCDC 2023 Individual Lender of the Year award.

What is the SBA 504 loan?

The SBA 504 loan is a government-backed financial product designed to help small businesses acquire fixed assets and expand operations.

What are some community contributions of Bradley Bissett?

Bradley Bissett is active in local economic development and volunteers in children's sports programs.

How many SBA 504 loans did ChoiceOne complete in 2023?

ChoiceOne Bank completed seven SBA 504 loans, amounting to nearly $7 million in total financing.

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