Longtime small-business advocate Jay Utterback is joining the loan committee for the Indiana Community Business Credit Corporation (Credit Corp).
The Credit Corp provides working and growth capital to owners of small businesses. The loans are funded from a pool of capital provided by more than 30 Indiana banks. The funding pool – known as“mezzanine capital” – allows small-business owners to take a step up toward qualifying for commercial financing. The loan committee consists of six members.
Utterback is a partner in The Watermark Group, an Indianapolis wealth, business and tax planning firm.
Utterback says, “I like David better than Goliath. It’s a good day when I can help the ‘Davids’ of small business make progress. In that regard, helping with the Credit Corp loan committee is similar to my work with small-business clients at Watermark.”
Background:
Indiana Community Business Credit Corporation (www.cambridgecapitalmgmt.com) manages a pool of risk capital provided by more than 30 Indiana banks. The pool is used to supplement conventional financing with additional growth capital. Credit Corp steps in with mezzanine funding when the lender cannot offer a conventional loan package that meets the borrower’s needs. By partnering with Credit Corp, a lender can leverage its lending capacity and the borrower can gain affordable capital.
The Watermark Group (www.thewatermarkgrp.com) is a team of financial professionals that goes beyond accounting to deliver advice on tax, finances, wealth planning, investment management and ownership transition.
Professionally Managed by Cambridge Capital Management Corp.
