Indianapolis, IN (PRWEB) January 9, 2007
Midwest Capital Corporation announced record SBA 504 loan production for the year ending 12/31/06. The company originated six (6) projects totaling over $8.8 million. Project financing will result in 72 new jobs for the State of Indiana. Midwest Capital Corporation has been recognized among Indiana's top SBA 504 lenders for the second consecutive year.
The SBA 504 program is an economic development loan program designed to help small and medium size companies acquire or build their commercial real estate for expansion and job growth. Loans made under this program are structured to provide up to 90% financing. The program is a participation program that combines private finance money, which provides up to 50% of the project financing, with government backed financing, which provides up to 40% of the project financing.
Midwest Capital Corporation is a national, non-bank lender which provides both conventional and SBA 504 long term commercial mortgage loans, ranging from $500,000 to $5,000,000, to small and medium size companies.
For more information regarding this story please contact Steven Young, President of Midwest Capital Corporation at 317-863-2400 or toll free at 866-280-LOAN. Young can also be contacted via email at steve @ midwestcapitalcorp.com. The company's corporate address is 10412 Allisonville Road, Suite 114, Fishers, IN 46038. Web address is http://www.midwestcapitalcorp.com.