SBA 504 Loans - United Fidelity Bank Named “Small Business Lender Of The Year”

The Indiana Statewide Certified Development Corporation named United Fidelity Bank of Evansville the “Small Business Lender of the Year.” The award is granted for doing the highest volume of SBA 504 loans as a percentage of the Bank’s total business activity.

The second place finisher was Shelby County Bank of Shelbyville.

Congress started the SBA 504 program to aid smaller business entities access fairer financing conditions and keep operating funds at hand when in the process of expansion.

There was a tie between two bankers with the most SBA 504 loans approved - Larry Lux of Shelby County Bank and John Purdie of First Merchants Bank both secured three loans for approval.

The award for the most sales of SBA debenture dollars to the Indiana Statewide CDC went to Stacey Roberts of Indiana Bank and trust of Indianapolis.

Merchants Bank secured seven loans and SBA debenture sales of $4 million outpacing all Indiana banks in SBA loan transactions via the Indiana Statewide CDC.

Executive Director Jean Wojtowicz commented that the Indiana Statewide CDC has secured over $403 million representing 927 Indiana small businesses and a job creation figure of 26,500 since 1983.

The award presentation occurred at the Indiana Statewide CDC AGM on December 8, 2010 in Indianapolis.