Premier Capital Corporation Named #1 SBA 504 Lender in Indiana

Total Loan Volume Up 64% Over Last Year

INDIANAPOLIS, Nov. 5, 2012 /PRNewswire-USNewswire/ -- Premier Capital Corporation, a Certified Development Company (CDC) headquartered in Indianapolis, today was named the #1 SBA 504 lender in the state of Indiana during the fiscal year ended September 30, 2012. The award was presented to Premier Capital by Gail Gesell, Indiana District Director of the U.S. Small Business Administration. 

Premier Capital partnered with 34 Indiana banks to provide 69 approved SBA 504 loans, an increase of 64% from fiscal year 2011. Total dollar volume was $33.5 million, a 120% increase over fiscal year 2011. The role of CDCs is to partner with banks to promote economic development, using tools such as SBA 504 loans to grow small businesses and create jobs. Premier Capital ranks 34th nationwide among 255 CDCs who had at least one loan approved. Premier Capital states that the 69 small businesses that received SBA 504 loans estimate they will create more than 767 jobs during the next two years.

"Indiana continues to be ranked among the best places in the U.S. to do business, and our 2011 results reflect our state's strong commitment to economic development," said David Amick, Executive Director of Premier Capital. "Small businesses across the state have set the pace for economic recovery by expanding and creating jobs, benefiting everyone in their communities. We are proud to be their financial partner along the way."

SBA 504 loans provide long-term, fixed-rate financing for the purchase, renovation or expansion of owner-occupied commercial real estate or fixed equipment.  The typical project structure consists of 50% bank loan, 40% SBA 504 loan and 10% cash from the borrower – allowing the borrower to preserve working capital and improve cash flow.

Premier Capital Corporation is a leading Certified Development Company, providing SBA 504 real estate and equipment loans in Indiana since 1976. Its web address is http://www.504partner.com.

SOURCE Premier Capital Corporation

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