Community banks like Pillar Bank, play a vital role in economic development and small business lending. As locally owned and operated financial institutions, they understand the unique needs and challenges of the communities they serve and are committed to supporting and investing in the local economy.

There are several ways that community banks support economic development:

• Small-business lending by providing a wide range of loan options including startup loans, working capital loans, and equipment loans. This can help small businesses to grow and create jobs, which is essential for economic development.
• Source for credit for those small businesses who have difficulty accessing credit from large banks or other financial institutions. Community banks have a more personal relationship with their customers, which allows them to better understand the creditworthiness of small businesses and to provide them with the credit they need to grow.
• Financial education and resources for small business owners including financial planning, budgeting, and cash flow management, which can help business owners to better understand their financial position and make informed business decisions.
• Local investment of businesses and organizations by purchasing stock, providing loans, or offering other forms of financial support. This can help to stimulate economic growth and create jobs in the local community. Read about Pillar Bank’s Donation to a Local Hospital.

At Pillar Bank, we are a trusted local partner who is committed to providing guidance and resources for people in our communities to thrive. Reach out to our friendly staff by calling 715-684-3366, emailing https://www.pillar.bank/contact-us/, or visiting one of our locations in Baldwin, Balsam Lake, Clear Lake, Chippewa Falls, Plum City, and Spring Valley, Wisconsin.