Statewide Mortgage based in Louisville
LOUISVILLE, Ky. (Oct. 20, 2016) — Statewide Mortgage, a Louisville-based mortgage lender, will build a $3.4 million corporate office in Jeffersontown that will create 30 full-time jobs.
The planned 30,000-square-foot office building will replace the former Benihana off Linn Station Road on Lake Shore Court. The move will enable Statewide Mortgage to consolidate its Louisville sales offices and centralize its loan processing and compliance teams. The building will accommodate 30 new employees while providing space for future growth.
The new building’s design will promote workflow efficiency and increase the company’s visibility along I-64 and Linn Station Road. Construction is expected to begin in November and last six to nine months. The move marks the company’s third, with previous relocations in 2005 and 2011.
Keith Swisher, Statewide Mortgage president, and his two college roommates, Lance Blincoe and Garrett Blincoe, founded Statewide Mortgage in 2002 in a little office on Dixie Highway in Louisville. In 2005, Ryan Baxter joined as a sales manager and started a first-time company growth spurt.
In 2011, the company relocated to Jeffersontown and expanded its insurance services, as well as commercial and residential real estate holdings. Statewide Mortgage since grew to include 54 full-time employees across operations in four states. It provides conventional, FHA, VA, USDA, and portfolio lending. The company currently holds licenses and lends in Kentucky, Indiana, Illinois, Tennessee, Georgia, Florida and Alabama. Swisher said the firm plans to expand into Ohio and South Carolina by the end of 2016.
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) in August preliminarily approved the company for tax incentives up to $600,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.