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Indiana Statewide Certified Development Corporation - JCs Wildlife
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Indiana Statewide Certified

Development Corporation                    4181 East 96th Street

                                                                                                Suite 200

                                                                                                Indianapolis, Indiana 46240

 

NEWS

 

DATE:            August 12, 2019                     FOR IMMEDIATE RELEASE

CONTACT:    Guy Johnson (317) 503-4605, guy-pr@sbcglobal.net

                        Angela Jordan (317) 843-9704 ext. 125, ajordan@cambridgecapitalmgmt.com

 

Construction begins on new warehouse for JCs Wildlife

with SBA 504 loan from First Financial Bank  and Indiana Statewide CDC

 

     Construction workers are building a new warehouse for JCs Wildlife. The Evansville company manufactures and distributes “all things birds” says Owner Christopher Briggs. The new warehouse is on property adjacent to JCs Wildlife current location at 13644 SR 57 in northeast Evansville.

 

     Briggs is financing his company’s expansion with a loan from the U.S. Small Business Administration 504 loan program through First Financial Bank and Indiana Statewide Certified Development Corporation.

 

     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.

 

     Briggs says the SBA 504 loan’s low fixed interest rate and long repayment schedule “make our growth affordable.” He says the new warehouse will open in 2020. It will be twice the size of the company’s existing site next door and will help JCs Wildlife add to its existing 18-employee payroll and increase manufacturing and shipping to worldwide markets. JCs Wildlife’s products include birdhouses, bird feeding stations, the patented Squirrel Stopper pole system, and Stryx Optics binoculars.

 

     Darren Spainhoward of First Financial Bank says, “First Financial Bank is honored to work with Chris as his business continues to experience rapid growth. Growth that is the direct result of his hard work, commitment to excellence, and treating customers and suppliers with integrity and respect. The SBA 504 program allows Chris the opportunity to mitigate a substantial amount of future interest rate risk as well as retain capital due to the lower down payment requirement. Mr. Briggs is a modern-day success story that is tailor-made for programs such as the SBA 504.”

 

Background:

 

     Indiana Statewide CDC (www.cambridgecapitalmgmt.com) has provided more than $600 million to 1,280 Indiana companies since 1983, creating or saving more than 26,595 jobs, and is the most prolific CDC in Indiana.

 

     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 SBA guarantee, we can offer more favorable loan rates than generally available to small businesses.”

 

     First Financial Bank (www.first-online.com) is the oldest national bank in Indiana and the fifth oldest in the United States. It was chartered in 1834 and still holds the 47th bank charter granted in the U.S. Based in Terre Haute, First Financial grew into a strong group of community banks consisting of 84 banking centers in Illinois, Indiana, Kentucky, and Tennessee, more than 100 FirstPlus ATMs and more than 1,000 First Financial team members.

 

     JCs Wildlife (www.jcswildlife.com) is all about birds. JCs Wildlife manufactures and distributes bird houses, bird feeders, bird food and other bird-related items. “We want customers to have only products that we would be proud to have in our own yard,” is the company’s pledge.

 

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