New Phoenix-Based Bank Obtains SBA Approval

Integro Bank announced that it obtained approval from the U.S. Small Business Administration (SBA) as an approved lender in the federal SBA 7(a) Loan Guarantee Program. The bank now has a fully staffed 6-person SBA department and is accepting loan applications from small business owners for both SBA 7(a) and 504 loans. With $31 million in equity, the bank is able to provide as much as $300 million in loan fundings to support small businesses.

Mr. Inserra also announced that Integro Bank’s Board of Directors have approved Lee Kroll, CPA as the bank’s new Chief Financial Officer, in connection with the retirement of Tom Reed. “As our Founding CFO, Tom Reed’s service was impactful in helping us to launch the bank. We wish him success as he transitions to retirement” – stated Thomas Inserra. “We are impressed with the background and credentials of Lee Kroll and believe that his service to Integro Bank as our new CFO will be just as impactful.”

Lee Kroll previously led IBM’s North America Finance & Accounting Practice as a Senior Partner, he was Controller at JPMorgan Chase, and Divisional CFO at Green Tree Servicing. Earlier in his career he was a bank teller, a Manager at Arthur Andersen and served in the United States Marines. Lee has an MBA from the University of Phoenix, a B.S. degree in Accountancy from Northern Arizona University (NAU) and he is an accounting instructor.

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