Indiana Statewide Certified Development Corporation says its small business lending reached $28 million in fiscal year 2017, one of the highest totals in its 34-year history. Executive Director Jean Wojtowicz says the 39 companies the CDC worked with throughout the state span the manufacturing, service and retail industries. The company says the projects involved about $72 million in total investment and created or saved around 440 jobs.
The Indiana Statewide CDC says its best year for funding was 2008, when it provided over $33 million to 55 Indiana companies. Wojtowicz says the recession hurt financing for about three years, but since, "the appetite has been steadily increasing for loans as small business owners find their footing and either expand or open new ventures."
Especially encouraging, says Wojtowicz, is that the projects are not just in big cities, but in rural areas. She says Indiana’s "strong business climate" with business-friendly taxes and regulations. Wojtowicz says she’s optimistic about the future as well, saying the company’s "pipeline of loan projects is very full," saying its small business partners have "ambitious plans for their futures."
Indiana Statewide CDC works with the Small Business Administration’s 504 Program to provide financing for assets including real estate, machinery and equipment.
Wojtowicz says she is “very bullish” about the future as well.