CMP Plumbing Trades opens new office and warehouse in Bargersville with SBA 504 loan from First Merchants Bank and Indiana Statewide CDC

CMP Trades, a longtime plumbing contractor serving Johnson and surrounding counties, has moved and is now operating out of a larger, new headquarters in Bargersville. Chad Paulin started CMP Trades in 1996. He is a master plumber and he owns the business that now employs ten people. Paulin bought property and built CMP Trades' new headquarters — at 618 Industrial Boulevard — in Bargersville with financing from the US Small Business Administration 504 loan program. He obtained the loan from First Merchants Bank and Indiana Statewide Certified Development Corporation. The company's old location was a few miles away in Trafalgar. Indiana Statewide CDC works with local Indiana lenders to issue SBA 504 loans to help owners of expanding or startup small businesses buy real estate, buildings and equipment. SBA 504 loans can give small business owners long-term, fixed rate financing similar to commercial loan terms available for large companies. CMP Trades, Inc. is a full service residential and commercial plumbing contractor. The company services and installs water lines, standard water heaters, tankless water heaters, sinks, toilets, bidets, showers, faucets, bathtubs, radiant floor heat and gas pipe. CMP is an expert in high-end custom residential plumbing with over two decades of experience in installation and service. Paulin says, "The 504 is a great program for small businesses such as CMP Trades. Our new building allows us the space to grow. We will be more of a presence in the community." Paulin says, "Our new office, warehouse and garage are under one roof; and our new building is truly beautiful. We are always on call for our customers. Now they may want to walk in to our brand new location and say, ‘hello.'" George Dougherty of First Merchants Bank says, "We saw this as an opportunity to link a high-quality bank customer in CMP Trades with a great loan program though Indiana Statewide CDC." Background: Indiana Statewide CDC has approved over $692 million of financing for more than 1,500 Indiana companies since 1983, creating or saving more than 27,000 jobs, and is the most prolific CDC in Indiana. These projects represent more than $1.8 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." First Merchants Bank (www.firstmerchants.com) is the primary component to First Merchants Corporation, the largest financial services holding company based in Central Indiana. Founded in 1893 in Muncie, First Merchants provides customers with broad financial services delivered locally by bankers who are known and trust in their communities. CMP Trades (www.cmptrades.com) does residential and commercial plumbing, remodels, replacements, and repairs. This can be anything from tank or tankless water heaters, water softeners, toilets, faucets, clogs, and sump pumps. CMP also installs and services radiant heat in floors and driveways.