Bill Burke, Dave Englert, Ward Kellogg, Kevin Rafferty, Mike Burke and Dennis Gavin
A Locally Owned And Operated Commercial Bank Helping Businesses With SBA Loans
Paradise Bank was established right here in Boca Raton in 2005. Paradise Bank currently serves the community and that’s what they will continue to do, as the Paradise team has been making SBA loans in South Florida for over 30 years and as a team carries more than 300 years of combined experience.
That experience has translated into Paradise Bank becoming one of the most proficient and largest SBA lenders in South Florida. To date, Paradise Bank has provided more than 400 PPP loans to entrepreneurs in a variety of businesses totaling more than $40 million, which in turn has supported over 5,000 jobs in the community.
“Over the past 30 years we have provided SBA financing to help entrepreneurs purchase their dream of owning their own place of operation as opposed to paying rent to someone else,” notes Ward Kellogg, Chairman and Chief Executive Officer.
Kellogg adds, “If a building is found and your business can occupy 51 percent of the space, you can qualify for an SBA loan with business-friendly terms of up to 25 years with “no balloon,” 90 percent financing inclusive of the cost of improvements and closing costs. As part of the Cares Act, the SBA Guaranty Fee is waived and the SBA will make the first six months of P&I payments up to $9,000 per month.”
“To date, Paradise Bank has provided SBA loans to customers allowing the purchase of medical offices, warehouses, funeral homes, car washes, gas stations, marinas, self-storage, HVAC, restaurants, breweries, golf courses and more,” says Bill Burke, President and Vice Chairman.
Kevin Rafferty, EVP of SBA Lending and Director of Paradise Bank, explains, “Being a full-service commercial bank also gives us an advantage over non-bank SBA lenders because we can create an entire package of financial services including lines of credit, cash management services, the latest in online banking, and even home mortgages.”
Adds Dennis Gavin, EVP Chief Credit Officer/Director, “In essence, we are a one-stop community bank whose board and management consist of your neighbors who have lived and operated in this community for over 30 years.”
Dave Englert, EVP Chief Business Development/Director, notes, “We’ve been very successful and have received so many compliments from our customers about our staff that great customer service creates its own demand.”
“We all look forward to the opportunity to help you fulfill your dreams of owning your own building that has your business’ name on the marquee,” says Burke.
Paradise Bank has three locations — Boca Raton, Delray Beach and Fort Lauderdale. For more information, call 561-392-5444 or visit paradisebank.com.
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