JANUARY / FEBRUARY 2021 0IRHMRK a Hand Through partnership financing In addition to loans and charitable service, banks help the communities they serve through a variety of partnership loan and grant options. Below are samples of some of the partnership financings that member banks of the Indiana Bankers Association engaged in during 2020. *IHIVEP ,SQI 0SER &ERO SJ -RHMERETSPMW Alliance Bank, Francesville, worked with Country Color Floral & Gifts, Francesville, to obtain a $25,000 Elevate Small Business Grant from the FHLBI. Alliance Bank worked on the application with the owner of Country Color and submitted it on the company’s behalf. The Farmers Bank, Frankfort, helped One80 Recovery Resources Inc., Frankfort, obtain a $500,000 Affordable Housing Program grant from the FHLBI to create 16 affordable housing units. One80 provides services and treatment opportunities for those seeking recovery from addiction. *IHIVEP ,SYWMRK %WWSGMEXMSR (ITEVXQIRX SJ ,SYWMRK ERH 9VFER (IZIPSTQIRX Merchants Capital, an affiliate of Merchants Bank of Indiana, Carmel, provided $17 million in financing for Trailside Flats, West Lafayette. Merchants Capital secured financing on behalf of Van Rooy Properties Inc. The 35-year, non-recourse FHA/HUD 223(f) loan structured the refinancing of the property. Trailside Flats is a multifamily development of 195 units. 7QEPP &YWMRIWW %HQMRMWXVEXMSR Huntington National Bank, Columbus, Ohio, launched a $25 million lending program, Huntington Lift Local Business, dedicated to minority, women and veteran-owned businesses to secure SBA-guaranteed loans from $1,000 to $150,000. Program features include: zero origination fees; SBA fees paid by Huntington; lower credit score requirements; checking accounts with overdraft fee relief and service fee waived for 36 months; and flexible, longer-term repayment options. The program also provides free financial education through a partnership with Operation HOPE. 7&% 0SERW -RHMERE 7XEXI[MHI '(' Several certified development corporations in Indiana help banks leverage loans for smaller companies through Small Business Administration 504 loans. Following are some lending partnerships between the Indiana Statewide Certified Development Corporation and IBA-member banks: Centier Bank, Merrillville, partnered with ISCDC to provide an SBA 504 loan to Fleece Performance Engineering Inc. to fund a manufacturing plant in Pittsboro. The company designs and builds aftermarket parts for the automotive industry. Its sister companies, Freedom Racing Engines Inc. and Fleece Performance LLC, also occupy space in the new facility. German American Bank, Jasper, partnered with ISCDC to provide an SBA 504 loan to Automated Routing to buy land and build a manufacturing plant, bringing 10 new jobs to Troy in Perry County. Automated Routing is a 27-year-old company with 135 employees in Saint Meinrad in Spencer County. The Farmers Bank, Frankfort, partnered with ISCDC to provide an SBA 504 loan to Mighty Oaks Nursery, a new landscaping service in Sheridan. With the loan, the company’s owners were able to purchase land and build a showroom and warehouse. Mighty Oaks provides lawn mowing, landscaping and hardscape. First Merchants Bank, Muncie, partnered with ISCDC to provide an SBA 504 loan to Media Fuel, a digital marketing agency of 10 employees, to help finance its move into new headquarters in Fishers. The company designs websites, digital marketing campaigns and video productions. Horizon Bank, Michigan City, partnered with ISCDC to provide an SBA 504 loan to White’s Ace Hardware in Fishers. The company purchased and remodeled a former competitor’s store. With three stores, White’s Ace Hardware employs approximately 65 people full-time or part-time, with extras hired in the summer. The Napoleon State Bank partnered with ISCDC to provide an SBA 504 loan to Sugar Rock Farms Meat Processing in Decatur County. Previously named Westport Locker, the company acquired new owners who used the loan to purchase the land and building that was housing the refrigeration and freezing facilities. Sugar Rock Farms has eight employees. HB
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