Louisville small-business lender Venturus has formed a joint venture with Cincinnati-based Heritage Bank to create a joint venture that will make it easier and faster to obtain a small-business loan.
“Venturus has built an innovative, elevated SBA lending experience for entrepreneurs that combines white glove service, expertise and efficiency,” said H. David Wallace, Heritage Bank chairman and CEO. “The result is an SBA 7a loan application process simpler for the customer and generally faster at getting loans of $25,000 to $5,000,000 into the pockets of business owners ready to innovate and grow.”
Venturus CEO John Handmaker said that when the company launched two years ago, it experienced “immediate success.” In fact, it grew so fast that the company exceeded the capacity of its initial capital partner.
“We approached Heritage Bank because of their financial strength and expertise working with small businesses in mid-sized markets as well as their growth trajectory,” said Handmaker. “Through mutual due diligence, we learned our cultures were similar and our commitment to high-level service and customer experience is aligned.”
“SBA loans can be more complicated than other types of business loans due to eligibility requirements and underwriting nuances,” said Handmaker. “It requires specialized knowledge to advise on loan options and to keep the paperwork and documentation process manageable for entrepreneurs who are often focused on managing the day-to-day needs of their businesses.”
Through its strategic partnership with the bank, Venturus will operate as the SBA lending division of Heritage Bank, focused on expanding its nationwide impact and delivering customized financing solutions throughout the greater Cincinnati and Miami Valley markets.
Heritage Bank is an independently owned community bank that has developed a reputation in the local small-business community and with experienced bankers with direct access to decision-makers. The bank offers a range of commercial loans and small business services, including treasury management.
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