Chicago Community Bank Helps Expand Wisconsin Entrepreneur’s Food Businesses
Updated: Mar 22, 2022
Chicago based Centrust Bank is excited to share the success story of Bharat Bansal, an entrepreneur who has built multiple food businesses in the Milwaukee area. Bharat’s financial team at Centrust is beyond happy to witness his success.
It all began in December 2018, when Bharat wanted to open a startup for an organics-only grocery distribution business. Searching for a trustworthy community bank, Bharat reached out to the Centrust Bank team and secured an SBA loan for his company’s inventory and working capital needs. Then, with faith in his new wholesale business, he sold his gas station and focused solely on developing his new enterprise.
Within six months, Bharat’s profits tripled. Satisfied with his experience with Centrust Bank, he made a second deal with Centrust for another SBA Loan to open an international wholesale business. “I wanted to get into international supplies, and Centrust helped execute everything seamlessly with an amazing turnaround for an SBA Loan,” says Bharat. This business became a reliable wholesaler selling products from Germany, Spain, Monaco, and Australia, to name a few.
Bharat further grew his businesses by acquiring a food and liquor store in the Milwaukee area in early 2020. With help from Centrust Bank, he received a third SBA loan, and business was booming during Covid’s lockdown. One year later, Bharat made a fourth deal with Centrust Bank to acquire one of Milwaukee’s largest, oldest, and most loved supermarkets, Sentry Foods. Three months later Bharat got another loan to purchase a second Sentry supermarket. The SBA Loans did not only fund the purchase of the store locations, but also provided the working capital to improve the properties. Bharat talks about the impact of these renovations on the community: “We put up new signs and flooring, and new coolers…and Centrust Bank helped a lot to improve the properties which made the customers very happy. The community thanks us for that, and really, that’s all thanks to Centrust Bank.”
Sixty days after purchasing the Sentry Foods locations, Bharat reached out to his Centrust Bank finance team to make a sixth deal. With this loan, Bharat purchased a residential property. This property is used to house Bharat’s international customers as they stock up on international products. Centrust Bank thanks Bharat Bansal for his years of loyalty.
About Centrust SBA Programs
Centrust Bank is focused on helping small to mid-sized businesses grow profitably and safely by ensuring that each client receives the specific financial help they need to be successful. Centrust Bank understands entrepreneurship because, like many of its clients, they are also entrepreneurs. Their experienced commercial banking professionals are dedicated to helping businesses, big and small, grow to their maximum potential.
About Centrust Bank
Founded in 2006, Centrust Bank has grown to become a leading Chicago area community bank focused on lending to small to mid-sized businesses throughout the Chicagoland area. To learn more or to contact Centrust Bank, check them out at www.centrustbank.com
Centrust Bank is an Equal Housing Lender. Member FDIC.