Indiana Statewide Certified Development Corp. approved $34.1 million in loans to small business owners in fiscal year 2019. The amount is the largest of any of the state’s certified lenders of SBA 504 funds. The loans helped create or save approximately 680 jobs.
Loan approvals were to 40 borrowers. Total investment in Indiana Statewide CDC’s 40 loan projects topped $85 million; a combination of SBA 504, bank funds and down payments by the business owners. Indiana Statewide CDC partners with local lenders to provide SBA 504 financing to owners of expanding or startup small businesses. SBA 504 loans help businesses buy real estate, buildings and equipment at long-term, fixed rates better than routinely available commercially to small companies.