New owners open Stony Creek Swim Center in Fishers

The outdoor swimming season is here! A remodeled and expanded Stony Creek Swim Center - Legends opens this weekend in Fishers. New owners Danny and Shari Gipson purchased the existing pool and clubhouse at the site with a loan from the U.S. Small Business Administration 504 program for small businesses through Community Bank and Indiana Statewide Certified Development Corporation. The Gipsons have owned and operated a year-around swim club, Legends in Noblesville, for 25 years. Stony Creek's Kim Walters says, "Upgrades include new clubhouse flooring, repairs and maintenance in the pool and splashpad, and new equipment almost everywhere." She says, "Stony Creek Swim Center is an aquatic education program. Our method combines effective instruction with a safe, comfortable environment to help swimmers become happy, healthy, responsible children." Activities also include a swimming team, lessons and summer camp. Stony Creek Swim Center in Fishers will be open from Memorial Day through Labor Day and will employ about 20 people for the swim season. Indiana Statewide CDC works with local lenders to provide SBA 504 loans to owners of small businesses. SBA 504 loans can give small business owners long-term, fixed rate financing similar to commercial loan terms available for large companies. Jim Kingsolver of Community Bank says, "Community Bank often uses SBA 504 loans because their low down payments and fixed, long-term rates help our clients focus as many resources as possible on building their businesses." The Indiana Statewide CDC has invested over $459 million in more than 1,120 Indiana companies since 1983, creating or saving 26,500 jobs. Indiana Statewide CDC observed its 30th anniversary last year and is the most prolific CDC in Indiana. Since Congress created the 504 program, SBA 504 loans have funded over $62 billion to more than 130,000 small businesses. In turn, those small firms have created or retained over 2.1 million jobs for the U.S. economy. Indiana Statewide CDC Executive Director Jean Wojtowicz says, "SBA 504 loans are effective because borrowing companies can put as little as 10 percent down and receive a low, fixed interest rate for as long as 20 years. The SBA guarantees bonds sold privately to finance a portion of the loan. With the guarantee, we can offer loan rates more favorable than conventional financing."