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The Bank of Indiana is small business lender of the year
The Bank of Indiana has earned the title of Small Business Lender of the Year from the Indiana Statewide Certified Development Corporation. The bank, located in Dana, generated the greatest volume of U.S. Small Business Administration 504 business expansion loans as a percentage of their overall deposits this year.
Accepting the award for the Bank of Indiana were Jeff Salesman, Jay Reynolds and bank president Dan Fehrenbach. The bank and Statewide CDC made loans this year to Misco Enterprises, Petrozone and Reel Time Logistics.
The Indiana Statewide CDC award for the lender with the most SBA 504 loans went to 1st Source Bank of South Bend. The bank had five loans approved.
Community South Bank of Indianapolis generated the most SBA 504 debenture dollars in Indiana, over $3 million.
Individual awards from the Statewide CDC went to Steve Young of Midwest Capital Corporation in Indianapolis and Jennifer Mathews Miner of Lincoln Bank. Young was the lender with the most SBA 504 dollars and the most SBA 504 loans approved this year. He and the Statewide CDC combined on loans to Noblesville Honda, dentist Angelo Julovich, Bone Dry Roofing, Aerodyne Engineering and K&JK Enterprises, owner of several Burger King restaurants.
Miner brought in the loan that had the largest SBA 504 debenture for the year: a loan to the former Kahn’s Marketplace in Carmel, now known as Vine & Table.
The awards were given at the annual meeting of the Indiana Statewide CDC in Indianapolis Thursday night. At the meeting, the Statewide CDC announced that it set a new record for SBA 504 small business expansion loans during fiscal 2007.The Indiana Statewide Certified Development Corporation set a new record for small business expansion loans in fiscal 2007.
It provided $37,517,000 along with local banks to 66 projects for the year ending September 30. Total funding for the projects reached $103,538,588. The old funding records set last year were $35,469,000 to 69 projects and total funding from all participants of $99,479,979.
Indiana Statewide CDC partners with local lenders to provide loans from the U.S. Small Business Administration 504 loan program. Thirty-three different lenders worked with the Indiana Statewide CDC this year.
Jean Wojtowicz is executive director of the Indiana Statewide CDC.
Indiana Statewide CDC has helped create or save more than 24,000 Hoosier jobs with the SBA 504 program.
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