Port Washington State Bank renews community loan program
Bank also eliminates annual loan limit per municipality

News Graphic Staff

April 7, 2015

PORT WASHINGTON — Port Washington State Bank has renewed six community business loan programs for 2015.

Currently, loan programs are available in Port Washington’s Main Street District, the village of Saukville, the town of Cedarburg, the city of Cedarburg, the village of Thiensville and Grafton’s South Commercial District.

The loan programs allow current and prospective business owners to apply for low-cost, fixed-rate loans ranging from $5,000 to $50,000 to redevelop, purchase, enhance or make leaseholder improvements to real estate. In addition, the loans can be used to purchase equipment and help defray start-up or other costs associated with business development.

“We designed these programs to help foster and grow our business communities,” said James Schowalter, the bank’s senior vice president and chief credit officer. “We have had a tremendous response and have been able to fund over 50 loans for $2.5 million since the program’s inception in 2012,” Schowalter said.

New for 2015 is the elimination of the annual loan limit per municipality that was originally set at $250,000, Schowalter said. “The need is great, and the bank is in a position to lend a hand to strengthen our business districts. Removing that limit allows more businesses to apply for these programs.”

Interested parties may contact PWSB directly or their specific municipality for more information.

Port Washington State Bank is a locally owned and operated, 116-yearold, five-generation community bank serving Ozaukee County through six full-service locations.

Insured by the Federal Deposit Insurance Corporation, the bank has $482 million in banking assets under management and is the only locally owned and operated bank headquartered in and exclusively serving Ozaukee County.