Citizens State Bank joins Indiana Community Business Credit Corp.

Citizens State Bank of Indiana is committing $100,000 to the pool of small business lending funds available through the Indiana Community Business Credit Corporation. Citizens State Bank joins 25 other Indiana banks in funding the Credit Corp. capital pool. To date, the Credit Corp. has provided more than $69 million to 177 borrowers, supporting a total of $322 million in project financing since 1986. The Credit Corp. capital pool has $30 million ready to assist growing companies. Loans from the Credit Corporation capital pool and its member banks are called "mezzanine capital" because the funding is in between senior debt from the banks and the equity provided by the owners. Mark Clark, Citizens State Bank VP and Commercial Relationship Manager, says, "The Indiana Community Business Credit Corporation is an important addition to the lending programs we can offer small business clients." Dan Maddox, CEO of Citizens State Bank, commented, "Our mission is to help our clients, co-workers, and communities succeed, and supporting local businesses through a partnership with the Indiana Community Business Credit Corporation is another way to help us accomplish that goal." Citizens State Bank is a locally owned community bank and has offered a full range of financial services in Central Indiana since its founding in New Castle in 1873. Citizens State Bank’s locations include Carmel, Fishers, Hartford City, Dunkirk, Knightstown, and others across Indiana. The Credit Corp has been assisting Indiana lenders and borrowers since 1986 when it was formed to meet the need for medium and long-term growth financing for promising firms which had a gap in their funding sources. Last year, the Credit Corp. provided more than $2 million in loans to small Indiana companies.