Merchants Bank of Indiana hires two SBA lending executives in Chicago

Merchants Bank of Indiana has hired Jeff Scott and Sherwin Patidar as Small Business Administration (SBA) professionals. Jeff Scott and Sherwin Patidar will be based in the company’s Chicago office.

As a founding member and director of First Colorado National Bank, Scott brings more than 25 years of commercial lending experience to his new role with Merchants Bank of Indiana. He joins the company as president of SBA Lending. The scope of his responsibilities include the build-out of a national origination strategy, underwiritng, closing and servicing platform focusing on SBA 7a, 504 and United States Department of Agriculture (USDA) loan programs.

Patidar, also a founding member of First Colorado National Bank, brings more than 15 years of experience specializing in the SBA sector. He joins Merchants Bank of Indiana as vice president of SBA Lending and his responsibilities include generating new commercial SBA 7a, 504 and USDA loans in accordance with bank guidelines, developing and implementing a business plan and marketing strategy to aid in identifying areas of opportunity for new business penetration, and more.

“We are thrilled to welcome Jeff and Sherwin to the Merchants family,” said Michael F. Petrie, chairman and CEO of Merchants Bank of Indiana. “At Merchants Bank, we have a fresh approach that will change the way you look at business banking, and we won’t put your business in a box. With these additions, our team will continue serving residents in Chicago, Indianapolis and beyond, whether they are seeking debt financing, working capital, equity financing or a variety of other customized services.”

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