Springfield, IL (CAPITOL CITY NOW) – Some changes in leadership will take place on New Year’s Day at a Springfield-based small business lending institution.

According to a news release, current Growth Corp president Doug Kinley will become Chief Executive Officer, effective Jan. 1.  Company veteran Sara Vanhala will then take over as president.  Vanhala is also board chairperson of the National Association of Development Companies.

Growth Corp works small and mid-sized for-profit businesses to help them with financing. and is able to help businesses get loans through the federal Small Business Administration.  Loans of up to $5 million are available through most businesses, increasing to $5.5 million for manufacturers, all who plan on expanding, purchasing equipment, or purchasing commercial real estate.

According to the news release, “This leadership transition underscores the strength of Growth Corp’s 40-year legacy and the momentum propelling its next chapter.”

“Each dollar we finance represents the bravery and hard work of an entrepreneur betting on their future,” said Kinley, in the news release. “Growth Corp exists to support that courage. Together we’ve built an incredible foundation of trust, integrity, and impact–and I’m excited to see our team launch into a new era of innovation and growth.”

The company describes the changes as a “leadership transition.”

“The heart of our work is the impact we make in communities,” said Vanhala, also in a news release. “Every project we finance becomes a catalyst for job creation, neighborhood stability, and generational opportunity. We’re proud of the strong foundation we’ve built-one where lenders and entrepreneurs know they can rely on us for clarity, consistency, and support. As we move forward, I’m committed to accelerating that impact and expanding our presence, ensuring more local businesses can grow, hire, and reinvest throughout the Midwest.”

Growth Corp has been in business for 40 years.