Downtown Jasper running shoe and pizza businesses assisted by SBA small-business loan from German American Bank & Indiana Statewide CDC

Kyle and Jamie Jahn noticed that their business, Downtown Fitness & Running, attracted more foot traffic as soon as they opened their new store on Jasper's Courthouse Square this summer. Kyle and Jamie started Downtown Fitness & Running eight years ago in a rented space on a one-way street just off downtown, but their goal was to own and transform an older building. They got the chance when 607 Main Street in Jasper (DuBois County) went up for sale. It had been vacant for years. The Jahns purchased the two-story, century-old, brick building with a loan from the U.S. Small Business Administration 504 program, provided by German American Bank and Indiana Statewide Certified Development Corporation. The main attractions for borrowers receiving an SBA 504 loan are lower-than-market fixed repayment rates, and a down payment requirement as low as ten percent. Kyle Jahn says, "We definitely would not have been able to purchase this particular downtown building without the SBA 504 loan. It gave us the ability to grow larger than we would have elsewhere and be able to rent space to other small businesses." German American Bank's Steffi Schmuecker says, "The structure of the SBA 504 program aligns perfectly with Kyle and Jamie's needs for their business. I'm happy to see a small business in our area thriving and expanding. The building where they are moving is a prominent piece of the downtown Jasper Square, so bringing a unique product and service will bring more appeal to the area and attract additional shoppers." 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. SBA 504 loans generally allow borrowers to pay a below-market down payment and repay the loan with a fixed low, long-term interest rate. Jahn says Downtown Fitness & Running helps people get the right shoes for their particular needs. It also sells apparel and accessories, and promotes several running events each year. The Jahns will eventually locate their other business, Wood Capital Pizza, next door. The pizza business started a few years ago off the back of a 1952 Chevrolet pickup truck Kyle and his dad restored. The pizza truck will continue to show up at local events. The Jahns have four employees at their store. Kyle continues his career as a middle school teacher and Jamie was a financial analyst for 20 years. Downtown Fitness and Running's new home was built during the first decade of the 20th Century. It has housed several businesses, including Sternberg's Furniture and Libby's ice cream shop. Jasper's Courthouse Square is a popular shopping destination. Downtown Fitness is adjacent to Merle Norman Cosmetics and Impulse Boutique Gifts and Interiors. Other businesses on the Square include a chocolate shop, women's apparel store, a hardware store, and performance venue in a renovated movie theater. Background: Indiana Statewide CDC has approved over $760 million of financing for more than 1,600 Indiana companies since 1983, creating or saving more than 30,000 jobs, and is the most prolific CDC in Indiana. These projects represent more than $1.9 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." German American Bank (www.germanamerican.com) is a strong financial services provider specializing in banking, insurance, investments and wealth management for business and retail customers. In 1910, German American was founded in a community located in the heart of the Ohio Valley Region which was rich in German American heritage. Today, its headquarters remain in Jasper, Indiana. German American Bank's footprint covers more than 70 different offices in southern Indiana and Kentucky. It combines top-rated technology with a talented, customer-focused team to deliver service excellence. Downtown Fitness and Running (Facebook; @downtownfitnessandrunning) Downtown Fitness & Running is a locally owned small business that sells quality running and walking shoes. Downtown Fitness offers group fitness classes. Free running group sessions are also available on Wednesday's at 6 pm and Sunday's at 7 am.