Premier Capital Corporation Named #1 SBA 504 Lender in Indiana for Third Consecutive Year

INDIANAPOLIS, Dec. 3, 2014 /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 for the fiscal year ended September 30, 2014. This marks the third consecutive year that Premier Capital has topped the list. The award was presented to Premier Capital by Stacey Poynter, Acting Indiana District Director of the U.S. Small Business Administration. 

Premier Capital partnered with 18 Indiana banks and credit unions to provide 45 approved SBA 504 loans, representing $65 million of approved SBA 504 projects, an increase of over $12 million from 2013.  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 32nd nationwide among 228 CDCs who had at least one loan approved. Premier Capital states that the 45 small businesses that received SBA 504 loans estimate they will create more than 350 jobs during the next two years.  For the first time, Premier Capital also worked with a CDC in Kentucky to fund a project in Henderson.

Indiana is a bright spot in SBA 504 lending nationwide, as SBA 504 business is down more than 20% across the country.   "Our 2014 results not only buck the nationwide trend, they are also a testament to the great business climate in Indiana," said David Amick, Executive Director of Premier Capital.  "Small business owners and their banking partners are committed to growth and creating jobs, and Premier Capital offered the right combination of product and service. The result was a great year."

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, serving the state of Indiana with a mission to create jobs by providing fixed asset financing with third-party lenders via the U.S. Small Business Administration's SBA 504 loan program. Since Premier Capital's inception in 1976, it has approved nearly a 1,000 SBA 504 loans for projects totaling close to a $1 billion, resulting in more than 10,000 jobs retained or created statewide. Its web address is www.504partner.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/premier-capital-corporation-named-1-sba-504-lender-in-indiana-for-third-consecutive-year-300004513.html

SOURCE Premier Capital Corporation

Related Links

http://www.504partner.com

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