|
Collier's Lane stables expands with SBA 504 loan from Indiana Statewide CDC and First Farmers Bank
Stefanie Collier built her business teaching, showing, training and selling horses. As Collier's Lane Stables grew in leased facilities, Collier decided to expand. She also wanted to own her own equine facility.
Her new Collier's Lane Stables just opened near Sheridan in Hamilton County. First Farmer’s Bank & Trust and Indiana Statewide Certified Development Corporation provided a loan from the U.S. Small Business Administration 504 loan program so Collier could purchase land, build and operate her new stable.
For the past eight years, Collier has leased facilities in Westfield and Zionsville.
"As a professional trainer my obligation to my clients is to provide an environment that will teach, develop and build them as riders, and horsemen." says Collier, an equestrian since her teenage years in central Indiana. She instructs all levels of riding lessons. Camps and clinics are run throughout the year as well. About 20 horses are boarded at any one time and are cared for by Collier's Lane.
As a horse trainer and competitor, Collier was American Grand Prix Association Rookie of the Year in 1998. She applies her expertise to current clients by helping them progress from beginners to competitors at nationally recognized horse shows.
Carey Mawbey of First Farmers says Collier's history in the business helped the bank decide to fund the loan. "Stefanie Collier is a well-trained in the equine industry and has a loyal clientele," says Mawbey.
"The business is a good candidate for a 504 loan because it has been profitable for its first eight years and is poised to grow and be an important part of Hamilton County and Sheridan in the future," Mawbey adds.
Indiana Statewide CDC and local lenders provide the SBA 504 loans. Congress created the SBA 504 program to help small businesses gain favorable financing terms and retain operating cash while expanding.
"The SBA guarantees bonds that are sold to finance a portion of the loan so we can offer a low, fixed interest rate for as long as 20 years," says Jean Wojtowicz, executive director of the Indiana Statewide CDC. "The guarantee also allows borrowers to pay as little as ten percent down," adds Wojtowicz.
Collier says those features are helping her. "This financing allows us to pay a mortgage every month and still keep enough money to pay for the other expenses we have."
Indiana Statewide CDC has helped create or save more than 24,000 Hoosier jobs with the SBA 504 program.
|
|
