Robert Warner, of the Indiana Procurement Technical Assistance Center in Fort Wayne, is joining the loan committee covering Northern Indiana for the Indiana Statewide Certified Development Corporation. Warner is a longtime state economic development officer. He currently is a procurement and small-business advisor for PTAC, which is part of the state-run Indiana Economic Development Corporation.
Indiana Statewide CDC, a private corporation, works with local Indiana lenders to issue U.S. Small Business Administration 504 loans to help owners of expanding or startup small businesses buy real estate, buildings and equipment. SBA 504 loans offer small-business owners long-term, fixed-rate financing similar to commercial loan terms available for large companies. Each loan is reviewed by one of three regional loan committees organized by the Indiana Statewide CDC.
Warner, who lives in Arcola, is one of seven members of the Northern Loan Committee. Also serving on the committee are; Joe Cavacini of First Federal Savings Bank, Fort Wayne; Jeff Dysert of STAR Financial Bank, Fort Wayne; Laura Getz of Chase Bank, Fort Wayne; Kate Bulthuis of First Merchants Bank, Munster; Joe Hunting of 1st Source Bank, Plymouth; and John Lowenstine, a CPA in Cedar Lake.
Loan committee members are volunteers and are keys to the success of Indiana Statewide CDC’s three loan committees, says Statewide CDC Executive Director Jean Wojtowicz. “They are our ‘eyes and ears’ who help us review SBA 504 loans for business owners in every part of Indiana.” Committee members meet electronically to review every potential SBA 504 loan proposed for their area.
Background:
Indiana Statewide CDC (www.cambridgecapitalmgmt.com) has approved over $760 million of financing for more than 1,600 Indiana companies since 1983, creating or saving more than 30,000 jobs, and is the most prolific CDC in Indiana. These projects represent more than $1.9 billion in expansion financing for Indiana businesses.
Executive Director Jean Wojtowicz says, “SBA 504 loans help small businesses grow because borrowing companies can put as little as 10 percent down and receive a low, fixed interest rate for as long as 25 years. The SBA guarantees bonds sold privately to finance a portion of the loan. With the guarantee, we can offer more favorable loan rates than generally available to small businesses.”
Indiana Procurement Technical Assistance Center (PTAC) (www.indianaptac.com) is a part of the Indiana Economic Development Corporation. PTAC provides procurement technical assistance to help manufacturers, agricultural producers and others sell products or services to the appropriate government agency. PTAC offers confidential counseling services and workshops at no cost.
