Growth Corp, an SBA 504 lender for small and mid-sized businesses, has announced a leadership transition effective Jan. 1.
After 35 years as president, Doug Kinley will assume the role of Chief Executive Officer, while Sara Vanhala has been appointed president. Vanhala is a nearly 20-year veteran of the organization and current chair of the board of the National Association of Development Companies (NADCO).
Growth Corp’s lending territory spans all 102 counties in Illinois, as well as portions of Missouri, Indiana, Iowa and Kentucky. As part of the nationwide SBA 504 Loan Program, Growth Corp provides long-term, fixed-rate financing – up to $5 million for most businesses and up to $5.5 million for manufacturers – for major investments in commercial real estate, equipment and expansion projects. Growth Corp works in partnership with local lending institutions to structure projects in a way that reduces risk for both the bank and the business, making expansion more attainable and more stable for growing companies.
“Each dollar we finance represents the bravery and hard work of an entrepreneur betting on their future,” Kinley said. “Growth Corp exists to support that courage. Together we’ve built an incredible foundation of trust, integrity, and impact – and I’m excited to see our team launch into a new era of innovation and growth.”
“The heart of our work is the impact we make in communities,” Vanhala said. “Every project we finance becomes a catalyst for job creation, neighborhood stability, and generational opportunity. We’re proud of the strong foundation we’ve built-one where lenders and entrepreneurs know they can rely on us for clarity, consistency and support. As we move forward, I’m committed to accelerating that impact and expanding our presence, ensuring more local businesses can grow, hire and reinvest throughout the Midwest.”