SPRINGFIELD – Growth Corp, a not-for-profit organization headquartered in Springfield, was recently named Illinois’ 504 Lender of the Year by the U.S. Small Business Administration.
The SBA empowers the organization to marshal the 504 lending program to small businesses throughout Illinois and parts of Missouri, Indiana, Iowa, and Kentucky.
The award represents Growth Corp’s support and contribution to the small-business community. Douglas Kinley, president of Growth Corp, accepted the award during the Illinois Lender Summit and Awards Conference in May in Chicagos. Kinley has been recognized many times for his dedication to the advancement of small business.
In 2015 alone, Growth Corp assisted over 275 businesses with the 504 Loan Program, totaling approximately $494 million in real estate financing, $198 million of which was 504 capital. These projects directly created and/or retained more than 1,000 jobs.
Growth Corp’s 504 Loan Program helps provide small businesses with better access to money for expansion than would otherwise be available through conventional financing. The 504 Loan Program features long-term, fixed-rate financing coupled with down payments as low as 10 percent. Certified Development Companies, such as Growth Corp, are authorized by SBA to partner with local lenders in providing 504 financing to small businesses.
For more information, call (877) BEST 504 or visit www.growthcorp.com.
— From the Illinois Business Journal