Board Members and
Member Banks History and Performance
Program DescriptionIndiana Community Business Credit Corporation, commonly referred to as the Credit Corp., is a privately owned company in which many Indiana financial institutions pool their money to share the risks of helping enterprises grow in our state. The Credit Corp. was organized in 1986 to meet the need for medium and long-term growth financing, and to supplement equity of promising firms which, for various reasons, do not qualify for such loans from conventional Lenders.
Credit Corp. loans are generally made to existing small and medium size companies which require a source of supplemental financing in order to meet growth needs. Only Indiana based companies or Indiana operations are assisted. Any business that can obtain the necessary funds on reasonable terms from a conventional financing source is not eligible for assistance from the Credit Corp.
Eligibility CriteriaProjects must have a primary member bank Lender involved with at least a 50% commitment for new funding. The Credit Corp. funding will be provided in a subordinate collateral position. This policy allows the Credit Corp. to leverage its funds and thereby assist the maximum number of companies. A list of member banks is attached.
The minimum loan size is $100,000 with the maximum loan size $500,000. Interest rates and terms will vary with individual circumstances. Targeted pricing is 18-22% made up of a current interest payments and transaction fees. Applications are priced according to individual risk.
Application ProcedureAfter an initial screening of the loan request and determination as to whether a Credit Corp. loan is appropriate, the following information must be submitted before formal approval can be considered.
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