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Certain advantages in an uncertain world Indiana Statewide Certified Development Corp. is Indiana's largest lender of funds from the U.S. Small Business Administration 504 loan program. SBA 504 funds can provide long-term fixed-rate financing for a business's fixed assets including real estate, existing buildings, construction of new buildings, and purchase and installation of equipment. A typical project could be funded as follows: 50% Financial institution, minimum 7 or 10 years, conventional rate 40% ISCDC, 10 or 20 years, fixed rate 10% Small business applicant This program allows many advantages to the borrower, including: 1.   Up to 90% financing for an expansion, when only 70-80% may be available via conventional loans. 2.  A 10% borrower injection of funds allows the borrower to conserve working capital. 3.  The long terms (10 years for equipment, 20 years for land) require lower monthly payments than shorter term financing, thus lessoning the burden on cash flow. 4.  With 40% of the financing tied to fixed rates, there is much less risk of interest rate fluctuation. The minimum project size is $125,000 and there is generally a requirement for job creation. History & Performance Cambridge Capital has managed the Indiana Statewide CDC since the program's inception in 1983. Since that time, over $1 billion in projects have been approved (ISCDC provided over $361 million), allowing more than 986 companies to expand. More than 26,000 jobs have been created or saved through ISCDC financing. Based on loan volume, Indiana Statewide CDC is consistently among the top 10% of all CDCs in the nation. Indiana Statewide CDC has received many local and national awards for loan volume, excellence in marketing and growth. Success Stories Success stories are fueled on ambition, opportunity and overcoming obstacles. A sampling of recent successful Statewide CDC borrowers includes examples of each. Rising from the ashes An electro-plating factory burns down. The Indiana Statewide CDC and a local bank loan SBA 504 funds for new equipment. Other financing steps in for a building and working capital. Twenty-six employees retain their jobs as the company reopens just before its business-interruption insurance expires. Fitness and fun for life A young woman believes in the value of recreation for youngsters in her middle-sized community. Opportunities for gymnastics and soccer are limited in the community schools, but the woman's fledgling gymnastics program is over-booked at the area YMCA. Financing from the Statewide CDC and a local lender help build a gymnastics academy with room for indoor soccer. Elegant desserts from mom's kitchen Mother's cheesecake recipe is a hit at the family table for decades. Financing from Indiana Statewide CDC and a local lender helps the family build a commercial kitchen to make cheesecakes for more people to enjoy. The business grows at a rapid pace, as does the variety of cheesecakes and other desserts produced by the family-owned company. The company is a four-time SBA 504 borrower from Indiana Statewide CDC. Thanks to the financing, the family business expertise - and mom's cheesecake - diners across the country and in military bases around the world enjoy this Indiana treat! Local lenders are the triggers for these and other successful applications of SBA 504 financing. It starts with a phone call to Indiana Statewide CDC. 317-844-9810. Sandra McCleese Please do not forward non-public information through this website ext. 128 smccleese@cambridgecapitalmgmt.com Loan Calculator Statewide CDC Board of Directors Indiana Statewide operates with a Board of Directors that oversees operations and regional loan committees. The regional loan committees provide geographic specific input when loan applications are reviewed. A. Bruce Burkart 1st Source Bank, South Bend Gene Dawson United Fidelity Bank, Evansville Joe DeHaven Indiana Bankers Association, Indianapolis Sam Eckart Community First Financial Group, Corydon Dan Fehrenbach Bank of Indiana, Dana Scott Fulford Indy Partnership, Indianapolis John Goggins National City Bank, Indianapolis Cito Mamaril Harris Bank, Indianapolis Dave Mason National City Bank, Indianapolis James Marcuccilli STAR Financial Group, Fort Wayne David Millard Barnes & Thornburg, Indianapolis Rob Olds Irwin Union Bank & Trust, Columbus Steve Payne Indiana Business Diversity Council, Indianapolis Randy Reichmann Old National Bank, Indianapolis Sam Schlosser Plymouth Foundry, Inc., Plymouth David Spade First Merchants Corporation, Muncie J. Thomas Surgener Association of Indiana Counties, Indianapolis Chad Sweeney Indiana Economic Development Corporation, Indianapolis Indiana Statewide CDC Loan Committees Northern Loan Committee Corinna Askins Fifth Third Bank, Fort Wayne Brad Bucher 1st Source Bank, Plymouth Brian Heflin National City Bank, Fort Wayne John Lowenstine John Lowenstine CPA, Merrillville Ken McCrory Small Business Development Corporation, Ft. Wayne Robert McElwee KeyBank, South Bend Scott Shishman St. Joseph Capital, Elkhart Central Loan Committee Mike Alerding Alerding & Co., LLC, Indianapolis Greg Gault Indiana Business Bank, Indianapolis Victoria Hall Small Business Development Corporation, Indianapolis Stewart Hawkins KeyBank, Indianapolis Dennis King Wayne Bank & Trust, Co., Richmond Jon Slaughter Lincoln Bank, Plainfield Matt Vessely Huntington National Bank, Indianapolis Southern Loan Committee Steve Hunt Community First Bank, Salem Tom Kinder ISBDC, Bloomington Tom Krodel Old National Bank, Jasper Larry Myers First Savings Bank, Clarksville William Perry Regions Bank, Vincennes Donald Williams Monroe Shine Company, Inc., New Albany