Area lenders were honored for their efforts in securing business investments into the greater Northwest Indiana area.
The Regional Development Co. (RDC) in Valparaiso, a non-profit organization and certified development company which administers the U.S. Small Business Administration’s (SBA) 504 Loan Program, released its 2018 year-end accomplishments and lender awards during its annual membership meeting hosted by White Hawk Country Club in Crown Point on Nov. 8.
The RDC said it had 36 loans approved by the SBA, which brought $16 million in federal funding to local companies. Of those 36 loans, seven were to women-owned businesses, seven were to minority-owned businesses and seven were to rural businesses.
The RDC partners with area lenders to provide financing for large capital projects and closed 28 loans this year. A total of $41 million in new investment was brought into several communities in Indiana and Illinois, which created 130 new jobs.
The RDC presented awards to its top referring lenders for 2018.
Peoples Bank was awarded the Most Active Bank Partner with eight loans and $2.6 million in referral dollars. The 2018 Most Active Lender awards were presented to Scott Jelinek of BMO Harris Bank who referred $1.4 million in SBA loan dollars and to Dan Duncan (Peoples Bank), Mark Baird (Centier Bank), Kim Modigell (Peoples Bank), Chris Chatfield (First Merchants Bank), Dan Magura (Peoples Bank), Jim Xeros (Grand Ridge National Bank) and Monica Garcia (JP Morgan Chase Bank), for each referring two loans to the RDC in 2018.
Lenders Keven Jennings (Old National Bank), Heather Thompson (Old National Bank), Scott Jelinek (BMO Harris Bank), and Mark Baird (Centier Bank) were inducted into the Millionaires Club, which is an exclusive group of lenders who have referred loans of $1 million or more.
