Helps small businesses
CLARKSVILLE, Ind. (Jan. 9, 2017) — First Savings Bank President and CEO Larry Myers has been elected to the board of Indiana Statewide Certified Development Corporation.
Indiana Statewide CDC works with local lenders to provide financing to Indiana small business owners through the U.S. Small Business Administration 504 loan program. The 504 program allows small business owners to take advantage of lower down payments and long-term, fixed interest rates usually not available through conventional financing. Indiana Statewide CDC and its local partners provided more than $31 million to Hoosier small businesses in 2016 using the program. Over its history Indiana Statewide has financed over $475 million dollars of projects for more than 1150 companies.
First Savings has provided SBA 504 financing to several small companies in the Clarksville, New Albany and Jeffersonville markets.
Myers has been involved with the Indiana Statewide CDC since 1990 and has previously served on the Indiana Statewide CDC’s Southern Loan Committee. He is a board member of other community organizations such as the Lincoln Heritage Council of the Boy Scouts and One Southern Indiana. He also recently completed a term on the board of the Indiana Bankers Association.