Sara Vanhala has worked for Growth Corp for nearly 20 years and assumed the role of president Jan. 1, succeeding Doug Kinley after his 35-year tenure. She currently chairs the board of the National Association of Development Companies and leads Growth Corp’s annual delegation to Washington, D.C., to collaborate with policymakers and SBA officials.
Vanhala has a bachelor’s degree in marketing from Southern Illinois University and a freelance graphic design business that started after helping a friend led to more referrals and requests.
She has three adult children, Daniel (27), Marisa (25) and Malea (23), and two grandchildren, Giovanna (18 months) and Dwayne III (4 months). In her free time, Vanhala enjoys reading, libraries and walking outside.
Where were you born and raised, and what was your first job?
I was born in Springfield and raised in Marion, Illinois, where my grandparents had a farm. My first job was at a dry cleaner. My dad went to high school with the owner and thought it would be the perfect first job for me. I learned how to work with people, count out change and deal with a job that was brutally hot on hot days and cold on cold days. So it was the perfect first job to throw me into the world.
How did you become involved with your current organization?
I moved to Springfield at the end of 2006 and was invited through mutual friends to a Super Bowl party at Doug Kinley’s house. As I was leaving at halftime to take my kids home and put them to bed, I ran into his mailbox. I went back to the party to apologize and tell him I would pay for the damages, and he kind of made fun of me. As we bantered back and forth, I said, “If you want payment quickly, you’ll have to hire me; otherwise, I’ll need to make payments.” He gave me his business card, and when I contacted him to apologize one last time, he asked me to interview and that’s how it happened.
Why are financing options such as SBA 504 loans so important for commercial developers?
It’s a great way to ensure the deal gets done in a way that’s beneficial to the business owner and their bank. The program typically offers low down payment options and low fixed rates that are currently below prime. The SBA 504 loans benefit banks by reducing credit risk and making it possible to finance projects that would have otherwise been declined.
Does demand for these loans ebb and flow, or is it pretty constant?
It’s pretty constant. We saw the highest demand during COVID-19 when businesses were refinancing loans to capitalize on low interest rates. Manufacturing and trucking were two industries taking advantage of the benefits of the program since both were in high demand at that time.
What trends have you noticed recently in the loan requests that cross your desk?
People are looking for predictability in an ever-changing economy. Creating predictability can be accomplished by looking at options that contribute to long-term stability. For example, if a business owner pays rent for their office space, purchasing the building is one example of building long-term benefits. It also shows the community that you’re establishing roots and that you intend to live where you work. That’s what we are doing, and that’s what we are seeing.
association for Growth Corp. PHOTO COURTESY SARA VANHALA
Is government support for programs like SBA 504 stable, or is the continuation of these types of assistance programs at risk?
Small business is a bipartisan issue. Fortunately, it’s one that both Republicans and Democrats stand behind consistently.
What sorts of risks do you advise clients to mitigate during the loan application process?
We host the Small Business Development Center for Central Illinois and that’s always a great place to discuss your business plans. If you’re a new business, talk about your projections. If you’re an existing business, look at the financials to get loan ready. Determine what the SBA looks for in terms of telling a good story in both the plans and financials.
What personal qualities have you noticed about people who succeed in their development or expansion projects?
I’m amazed by business owners. They are some of the most creative, motivated and dedicated people who truly put their employees and team ahead of themselves. They care about the strength of their business, community involvement, creating jobs and the lengths they’ll go to in order to protect those jobs. It’s very impressive and one of my favorite parts of this job.
Do you often feel that you have an emotional attachment to your clients’ projects and find yourself rooting for their success?
Every time. We care deeply; therefore, it’s important to be honest up front. If a project isn’t necessarily a good fit for our program, we’ll point that person in the direction that will expedite their progress. On the other hand, when we have a project that is a good fit, we listen carefully to the details of the story and then do whatever is necessary to get the project funded on time and in the manner anticipated.
How important is integrity in today’s business climate?
It’s everything. Being trustworthy and having integrity are absolutely necessary. People have pretty good intuition and can tell when someone is not telling the whole story and being deceitful. When you have integrity and good intentions people will fight for you; they will come out of the woodwork to support you.
What advice would you give to first-timers who are entering the job market?
Say yes to opportunities. You may initially be asked to do minor tasks at a job, and if you can be trusted with those tasks, you will be trusted with even greater tasks. Over time, the many minor tasks turn into a trajectory that you could have never predicted.
What may people be surprised to learn about you?
How much I love all animals. My mom told me that I’m most likely to die by a random animal bite because I’ll approach any animal, anywhere, even if they’re known to be dangerous.
This article appears in February SBJ 2026.