Small businesses are essential to a strong economy. They create jobs, support public services, and define what makes communities unique. In towns and cities across the country, local business owners are directly tied to long-term economic growth and stability.
But for many small-business owners, access to capital is the deciding factor between maintaining operations and achieving expansion.
Access to capital allows small businesses to:
- Hire and retain employees
- Purchase or expand facilities
- Invest in equipment and technology
- Increase operations to meet customer demand
- Find new or emerging markets
Each May, Small Business Month highlights the impact small businesses have on local and national economies. This month, Regions is particularly proud of its work to champion small business opportunities.
Since 2017, Regions Bank has originated over $1 billion in SBA loans to help small businesses start and grow.
Welcome to Regions. SBA Leader Talks Capital and Economic Growth Opportunities with Bank Leaders.
As part of a nationwide tour to promote SBA resources and small-business financing options, U.S. Small Business Administration Administrator Kelly Loeffler recently visited Regions’ headquarters.
During the visit, Loeffler met with Regions’ leaders to discuss how banks help bridge the gap between small businesses and the capital they need to grow—particularly through programs like SBA 504, SBA 7A and SBA Express loans.
During her visit to Regions, Loeffler heard many examples of how Regions supports small businesses directly in its branches through dedicated small-business bankers who work hand-in-hand to provide guidance, insights, and solutions to help small businesses meet their long-term business goals.
SBA Success Story: Regions Bank’s Small Business Client, Control Systems, Inc.
One example of that impact is Control Systems, Inc., a Regions small-business client based in Alabama.
Founded in 1999, Control Systems, Inc. designs and builds custom control panels for a wide range of industries, including:
- Manufacturing
- Utilities (with a particular focus on water and wastewater systems)
- Automotive
- Education
John Gordon with Control Systems, Inc. shares his experience working with Regions and the SBA to expand his business.
As demand for its services increased, the company needed a larger facility to support continued growth. Company leaders turned to Regions for help.
Regions worked with Control Systems, Inc. to secure a $1.3 million SBA 504 loan, enabling the company to purchase a 10,000-square-foot facility to expand its operations.
Since moving into the new space two years ago, company leaders have seen a direct benefit of the new space.
- Sales doubled
- Employee headcount doubled
- Operations scaled to meet growing industry demand
According to John Gordan, one of the owners of Control Systems, Inc., the SBA loan process was painless, enabling the business to focus on their growth rather than the complexity of finding the right funding to meet their needs.
Helping Small Businesses Thrive—Today and Tomorrow
Small businesses are more than economic drivers—they are, indeed, community builders.
In the first four months of the year, Regions has closed more than $60 million in SBA lending, helping businesses across Alabama and beyond invest in their future. More are in the pipeline to close soon. As a preferred SBA lender, Regions has earned the confidence of the SBA to originate, service and liquidate loans. In turn, that provides faster funding to small businesses to jumpstart growth.
Through continued growth with the SBA, Regions remains committed to expanding access to capital and helping small-business owners turn growth opportunities into lasting success.