Med-Mizer expands production with SBA 504 small business loan from PNC Bank & Indiana Statewide CDC

Med-Mizer, a designer and manufacturer of medical equipment in Batesville, is expanding its production facilities. Vice President and CFO Dustin Tekulve says Med-Mizer's expansion will bring on about 10 new employees, boosting the company's total to around 50. Med-Mizer is financing the project with a loan from the U.S. Small Business Administration 504 program. The loan is being made by PNC Bank and Indiana Statewide Certified Development Corporation. Indiana Statewide CDC works with local Indiana lenders to issue SBA 504 loans to help owners of expanding small businesses buy real estate, buildings and equipment. SBA 504 loans help small companies gain favorable financing terms similar to those available to large companies in conventional loans. PNC Bank's Dawn Morris says, "This SBA 504 loan allowed the customer to inject a lower down payment and gain a longer, fixed-rate repayment option." Tekulve says, "The 504 is great! It gives us the ability to invest more and grow faster." One of Med-Mizer's key products is the Flex-Tilt Chair that allows flexible seating positions, reducing patient discomfort during treatment by caregivers and while sitting. The company also manufactures beds and other rehabilitation equipment for hospitals, nursing homes, rehabilitation facilities and home care in the U.S. and Canada. Tekulve says, "We are a small company building high-quality products right here in Batesville, Indiana. We are focused on long term growth of our American-made products in the healthcare industry. Background: Indiana Statewide CDC has provided more than $520 million to 1,240 Indiana companies since 1983, creating or saving 26,595 jobs, and is the most prolific CDC in Indiana. Nationally, since Congress created the 504 program, SBA 504 loans have funded over $67 billion to more than 135,000 small businesses in the U.S. In turn, those small firms have created or retained over 2.1 million jobs. PNC Bank(www.pnc.com) For more than 160 years, PNC Bank has committed itself to providing clients with a broad array of services to help them meet financial goals. Med-Mizer, Inc. (www.med-mizer.com) manufactures products for rehabilitation facilities and hospitals, particularly in long-term and post-acute-care categories.