INDIANAPOLIS, Dec. 7, 2016 /PRNewswire/ -- Premier Capital Corporation, a Certified Development Company (CDC) headquartered in Indianapolis, today received the Top 2016 SBA 504 Volume award for providing the most SBA 504 loans (in units and dollars) in the State of Indiana during the fiscal year ended September 30, 2016. The award was presented to Premier Capital Corporation by Stacy Poynter, Indiana District Director of the U.S. Small Business Administration.
Premier Capital partnered with 32 Indiana Banks to provide 56 SBA 504 loans totaling $39,824,000, an increase of 104% from the $19,556,000 approved in fiscal year 2015. Premier Capital ranked number one in Indiana and 29th nationwide among 220 CDCs. The role of CDCs is to partner with banks to promote economic development, using tools such as SBA 504 loans to provide capital to small businesses and generate jobs.
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, improve cash flow and create jobs.
Premier Capital estimates that the 50 small businesses that received SBA 505 loans will create more than 300 jobs in Indiana during the next two years.
"The SBA 504 program is a "win, win, win" for the borrower, banker and the nation's economy" said David Amick, Executive Director of Premier Capital. "Clearly there is demand for start-up and growth capital and Premier Capital is proud to provide access to a great SBA loan program."
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
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SOURCE Premier Capital Corporation