The Friendship State Bank employee Jeff Dougan received the Highest Dollar Volume Approved Award and was runner-up for the Small Business Lender of the Year at the Indiana Statewide Certified Development Corp. banquet, reports Lauren Wagner, the bank’s marketing/public relations coordinator.
The award is earned by the bank that generates the largest volume of small business loans with ISCDC as a percentage of total bank deposits. Corporation officials work with local lenders to loan money through the U.S. Small Business Administration 504 financing program. Twenty-five Indiana banks and other lenders vied for the honor in fiscal 2013, which ended Sept. 30.
The advantage of SBA 504 loans is that they offer small business owners long-term, fixed-rate financing similar to commercial loan terms available for large companies. At 30 years, ISCDC is Indiana’s oldest and largest lender of SBA 504 loans.
Bank President/CEO Jim Lemon said, “We are extremely proud of Jeff and pleased that he’s part of our team. In fact, I like to think Jeff’s the best lender in Batesville.”
Dougan has been a loan officer there for almost five years and has a strong reputation throughout Batesville as a lender who works well with small businesses.
For more information on the bank, persons may visit the company’s Web site at wwww.friendshipstatebank.com.