Randy Horst has assumed the role of executive director of Small Business Capital Corp. of Ohio, replacing Marty Gareau who is retiring. As a commercial lender, Horst has worked with three local community development corporations (CDCs) to help small businesses grow and expand through the SBA 504 loan program, and other state loans.Most recently, Horst served as an underwriter at PNC Bank, approving commercial borrowing relationships. Prior to that, his role at PNC involved risk assessment, reviewing bank-approved SBA loans. Horst has served on the board of MEACO for 20 years, and discussions are taking place regarding MEACO merging with Small Business Capital Corp (SBCC).

Allen Weaver, president of the SBCC board of directors and vice president of commercial lending at Erie Bank, says, “We feel blessed we were able to find Randy, with the background and experience he has not only in commercial banking, but on the SBA side as well.It’s going to bring a lot of in-depth knowledge to the organization and he’ll be a leader going forward, helping us grow this program.” 

Horst says, “I have been impressed with how Marty grew the SBA 504 loan program while he was executive director, and he’s someone I’ve always admired for doing a great job for business owners.”

Horst has earned the respect of SBCC’s nine-member board over the years, Gareau says.“We are very excited to select Randy—our board knows he will do great things, and they are going to set the bar high,” he says, attributing the CDC’s success in part to a board that is in tune with how the SBA 504 loan program can help small businesses.

Since SBCC’s founding, the organization is responsible for helping create about 3,000 jobs in the region, Gareau says.During Gareau’s six-year tenure, SBCC has supported about 60 different companies, and following a rebranding a few years ago, the organization has expanded its reach beyond Lake County to neighboring Northeast Ohio counties, Gareau says.