At its annual meeting in Indianapolis, the Indiana Community Business Credit Corp. elected six bankers to its 13-member board.
Serving terms until 2021 on the Credit Corp Board are: Bill Denton of Horizon Bank, Indianapolis; Eric Estes, PNC Bank, Indianapolis; Neil Miller, 1st Source Bank, South Bend; Eric Minor, Regions Bank, Indianapolis; and Doug Talley of the National Bank of Indianapolis.
Steve Spicer of Key Bank, Indianapolis, was elected to a term ending in 2020.
The Credit Corp manages a pool of risk capital provided by more than 30 Indiana banks that 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.
The Indiana Community Business Credit Corp (www.cambridgecapitalmgmt.com) has been assisting lenders and borrowers since 1986 when it was formed to meet the need for medium and long-term growth financing for promising firms which could not qualify for conventional loans. Cambridge Capital has managed the Credit Corp. since its founding in 1986. Since then, the Credit Corp. has participated in projects totaling over $309 million with over $65 million provided directly by the Credit Corp. to 164 companies.