Brad Benesh on TCM Development Company Board
How his passion for local businesses led him to make a difference beyond banking
Since first opening our doors in 1998, North American Banking Company employees have been donating their time and experience to local non-profit organizations. As a community bank, we strive to make a positive impact on the people, businesses, and service organizations that make the Twin Cities a great place to live.
An example of this is the volunteer service of Senior Vice President, Business Banking Brad Benesh with the Twin Cities-Metro Certified Development Company (TCM).
TCM Certified Development Company is a non-profit corporation that was established in 1990 to stimulate the growth of small businesses by providing access to the U.S. Small Business Administration’s (SBA) 504 loan program. TCM Certified Development Company facilitates the SBA 504 program through other area banks in the Twin Cities.
The SBA 504 loan program provides small and medium-size businesses with long-term, low, fixed-rate financing for owner-occupied commercial real estate and equipment purchases. Designed to promote business investment and job creation by providing access to low down payment financing, the SBA 504 loan program allows small businesses to preserve cash for operations. One of the key advantages of the SBA 504 loan program is that they typically require a down payment of just 10% of the total project, along with a longer repayment term and low fixed rate for the entire term of the loan.
The TCM Certified Development Company also provides financial support in the form of grants to local non-profit development organizations.
Benesh volunteers on the board at TCM Certified Development Company that reviews and approves loans for local business owners. It is a role he had been interested in for many years prior to joining in 2023.
“I had been wanting to join the board for many years,” says Benesh. “When the opportunity came up, I jumped at the chance. I have worked with many business owners over the years with the SBA 504 program. Serving on the board has been such a natural extension of that process. It is a tremendous honor.”