It was with bittersweet sadness today when I picked up the News-Herald and read of Mike Lavigne’s retirement from the Grand Marais State Bank (GMSB). It was not a surprise, and I had thought about this day for many years hoping my time in business would not outlast his by too much. I would not be in business today if it were not for Dick Anderson, Norm Schroeder and Mike Lavigne.
I remember going in to get my first loan from the Grand Marais State Bank and talking to Dick Anderson in that office with the big window overlooking Main Street. What was it, maybe 500 bucks? But it helped match the $500 I made planting trees that year (1980) to start my business. That was the beginning of a long, now 37 years, relationship with them.
I weathered many storms, head-on car accidents, losing my business to a fire, recessions (which become depressions for artists) and many other ups and downs, failures and successes. Through all of this, the GMSB was always there to help whether it was understanding seasonal issues or what have you. They never completely judged a person on their raw credit score or apparent history but whether they believed in you and whether you paid the money back eventually. They believed in your true history with them.
Most people do not realize how people such as artists and very small businesses, who are constantly gambling with trends, competition, seasonal oddities or our lack of good business sense, are literally financially punished and penalized with little hope of rebounding because we cannot predict our income nor can we always pay our bills on time.
We are forced into leaning on our credit cards to make it through another dry spell only to be penalized further by having our credit rating jacked sky high because we do just as the credit card companies want us to do – we use our credit and string it out till business picks up and we can pay off big chunks of it!
We also face the dreaded dream of doing something you are SURE will pay off only to have it fall flat after spending much time, money and energy on it and then actually leaving a good bit of your soul and pride on the sidewalk just trying to figure it all out. Mike and the GMSB often understood this, yet were also good at reeling me in at times when I needed it. It is not easy selling a creation people do not actually need. After 37 years I have come to realize that just still being able to be in business is a success of sorts and without the GMSB that would not have been possible.
So I say thank you to Mike and best wishes in your future and your retirement. I will miss those talks we had for decades in your office. I am not sure we will see many small sole proprietors venturing forth in this community as it is a very tough existence, but I do hope that the Grand Marais State Bank will always be able to keep its finger on the pulse of the small business person in this community. Thanks, Mike!
Stephan Hoglund
Grand Marais
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