Small businesses are the heart of every community. They have that personal feel that big companies can’t replicate, and many times, the owners are our family members, friends, and neighbors.
Establishing and maintaining a small business is challenging, and business owners are constantly inundated not only with serving their customers but also with managing the many financial aspects of day-to-day operations.
Laura Wyse, a Small Business Administration (SBA) Business Development Officer at First Bank & Trust, enjoys assisting these owners.
Small businesses, she says, make everything tick in our society, and she loves being a part of their success. “I often find myself sitting at a closing table watching somebody who’s scared, but also so excited. This is something they may have dreamt about since they were a little kid, or maybe they're finally able to buy the mechanic shop they've worked at for the last 10 years. We help small businesses grow into success stories.”
One of these businesses is The Grind, a cycling workout studio. “I love Allison, the owner,” says Laura. “She's amazing to work with and very driven. She had always been in the fitness industry, and when I met her years ago, her dream was to open her own cycling studio.”
Allison’s first studio was in Minneapolis. “With a solid business plan and careful preparation, she secured the necessary funding to get started. Thanks to her hard work and strategic approach, the studio just grew so fast.”
Recently, with Laura’s help, Allison opened The Grind in Edina. “She's already up and running, and she's in a very trendy and busy area in Edina, and she's killing it.”
“Working with Laura, my First Bank & Trust SBA banker, was truly exceptional. She made every part of the process easy to understand, never overwhelming, and completely transparent,” says Allison. “Her guidance gave me confidence at every step, and her expertise in navigating small business loans is unmatched. Laura is absolutely my go-to when it comes to anything SBA.”
From her first foray into banking 13 years ago, Laura’s focus has always been on small businesses. “I love it because we’re helping people make their dreams come true, whether it’s somebody starting up their dream company, buying a building so they don't have to pay rent anymore, or acquiring a business that they've always wanted,” she says. “That to me is the most fulfilling part of what I do.”
With many years of experience at a larger organization, she appreciates the personalized, fast service she can offer clients. “First Bank & Trust is a community-driven bank, so each location is focused on its particular community,” says Laura. “There's always a personal touch to it, which is completely different than that big corporate banking feel I was used to.”
In fact, customers don’t call an 800 number to reach her; they have her personal cell phone number. “We answer clients at all times of the day if they need help with anything,” says Laura.
First Bank & Trust is also incredibly supportive of its staff, fostering an environment where open communication and fresh ideas are genuinely valued. “They’ve always welcomed feedback, listened to our suggestions, and quickly adapt policies to better serve our community,” she says.
Decisions are made collaboratively, and employees feel empowered to voice their perspectives, knowing leadership is receptive and responsive. “That helps me, and our customers, because if we find something isn’t working, we can change it,” says Laura. “Our goal is to make banking easy for everybody.”
With 22 locations across 17 communities in South Dakota and Minnesota, First Bank & Trust is one of the top SBA lenders (ranked 9th in Minnesota). “We’ve closed 34 loans with individuals and businesses at close to 20 million this year, which is huge,” says Laura.
She adds, “we have a small team in Minnesota, and we touch every single one of these loans. We don't have a system where someone types in their information, and it spits out an approval. That's not how we operate. We want to get to know our clients.”
Some projects, she says, can take six months to a year if owners are waiting for permits or doing construction. “During this time, we often get to know not only our clients well, but their families and their children. Our banking unit often becomes a family unit.”
Connect with the First Bank & Trust team at BANKeasy.com/Edina.