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Cambridge Capital Management: Lodge Design Grows in Irvington With SBA 504 Loan From Stock Yards Bank and Indiana Statewide CDC (Indianapolis)

2018-01-05T12:16:43+00:00January 8th, 2018|

Lodge Design, a 19-year-old marketing firm that grows by expanding the influence of its clients, is increasing its own footprint in Irvington on Indianapolis’ east side. Lodge Design bought and remodeled a vacant commercial building for its new headquarters at Washington Street and Arlington Avenue, leaving rented space a few blocks west in Irvington’s Masonic Lodge.

Lodge Design Owner Jarrett Hagy says his new building had been vacant for 25 years. Hagy says the building — formerly housing an engineering firm — was structurally sound but dated. “We totally demolished and rebuilt the inside to promote our collaborative work environment,” he says. The open space accommodates Lodge Designs’ ten employees with room to spare.

Hagy, along with Lodge partner Jason Roemer, bought and remodeled the new headquarters with financing from the U.S. Small Business Administration 504 loan program. The loan came from Stock Yards Bank & Trust and Indiana Statewide Certified Development Corporation.

Indiana Statewide CDC works with local Indiana lenders to issue SBA 504 loans to help owners of expanding or startup small businesses buy real estate, buildings and equipment. By using SBA 504 loans, small companies gain favorable financing terms similar to those available to large companies in conventional loans.

Hagy says, “The 504 program was a great match for us. Having a smaller down payment made it a reality for us.”

Jason Benson of Stock Yards Bank says, “Our bank likes to offer options to our clients, and many of them choose 504 financing. From the bank’s standpoint, it’s a good way to help build our client portfolio and also help clients reach their goals.

Current clients for Lodge Designs’ ten-employee firm include the edgy Indy Film Fest,  historic meccas Connor Prairie, Indiana State Museum and the Hoosier Gym in Knightstown, Lutheran Health Network and Sun King Brewery.

Background:

Indiana Statewide CDC (www.cambridgecapitalmgmt.com) has provided more than $500 million to 1,200 Indiana companies since 1983, creating or saving more than 15,000 jobs, and is the most prolific CDC in Indiana.

Stock Yards Bank & Trust (www.syb.com) is a wholly owned subsidiary of Stock Yards Bancorp, Inc. with company assets totaling $3 billion, serving the Louisville, Kentucky, Indianapolis, Indiana, and Cincinnati, Ohio markets. Founded in 1904.

Lodge Design (www.lodgedesign.com), anchored in Irvington for 19 years, creates branding, broadcast, video, digital, and other outreach — both interactive and conventional — for a wide variety of companies, products and cultural attractions.