Rundgren leads the way in business lending

Filed under: One on One |

Dan Rundgren is a small business lender for Wachovia.

He’s nearly made a 14-year run of it.

For 13 of those years, Dan Rundgren has been the No. 1 Small Business Administration lender in El Paso County.

As Wachovia’s Small Business Capital representative for southern Colorado, Rundgren has found success in his field, and the key to that success may be found in the driving philosophy behind his profession.

He considers it his job to give away money.

Rundgren’s banking experience includes positions at a number of Springs’ area financial institutions as well as a stint as a bank examiner for the Federal Deposit Insurance Corp.

Rundgren took time recently to tell CSBJ about himself and his business.

Organization: Wachovia

Position: Senior business development officer

Hometown: Starbuck, Minn.

How long have you lived in Colorado Springs: Since 1983

Education: Bachelor’s degree in economics from New Mexico State University; CCIM real estate designation; and CBI business broker designation.

A few words about your company: We are known as an SBA lender for commercial real estate and business acquisition loans. However, we also have a great conventional real estate product for “owner-user” buildings.

Recent accomplishments: Making my wife dinner for our 22nd anniversary, learning how to do a flip on the trampoline at Art Sports and hopefully, being the No. 1 nationwide producer for my company again in 2005.

Biggest career break: Convincing The Money Store SBA Division (now Wachovia SBC) to open an office here in 1991. They thought Colorado Springs was too small a market. As it turns out, I am Wachovia’s No. 1 all time nationwide producer.

The toughest part of your job: Having to say “no” to prospective clients.

Someone you admire: George Bush Sr. and Bill Clinton. They are both extremely intelligent. Oh, and of course I have to give my dad and mom a plug – they are great World War II-generation role models for giving back to their community. They work just as hard now as they did before they retired.

About your family: My wife and I are empty nesters and had a part in raising a nephew. My wife and I are dog parents for a couple of large mixed breed rescue dogs.

Something else you’d like to accomplish: Learn how to speak Spanish well enough to have a good conversation. I also want to learn to windsurf before I get too old.

How your business will change in the next decade: As with every business, technology keeps making things easier (most of the time, anyway). For instance, our loan application used to take a day to complete. Now it can be done online in about 60 minutes. Also, the SBA program will now have more stability since Congress won’t have to appropriate any funds to it. The program is now fully funded by borrower fees.

What book are you currently reading? For the book club my wife and I participate in, I just finished “The Many Aspects of Mobile Home Living” by Martin Clark, a humorous fictional account about the personal growth journeys of a wayward judge. My guys book club’s next book is “Active Liberty: Interpreting our Democratic Constitution” by Stephen Breyer.

What is the one thing you would change about Colorado Springs? The obvious answer from a business point of view is infrastructure. We need more money allocated to our transportation system.