Flagship Enterprise Center (Anderson, IN) announced it has just closed on a $1.25 million loan from the Small Business Administration (SBA). According to Adam Hoeksema, Flagship Loan Program Director, the funds will be used to provide small business loans up to $50,000 throughout a 24 county region in Central Indiana.
Since the inception of the microloan program in 2010, Flagship has closed 280 loans totaling over seven million dollars. Approximately 50% of these loans are to startups less than 2 years old including over 160 loans to minority, women, and veteran owned businesses.
“This new loan is vital to our ability to continue to meet the demand for the microloan program. The funding will allow the Flagship to make an additional 60 loans over the next 12 months to growing small businesses across central Indiana” Hoeksema said.
Created through a partnership between the city of Anderson and Anderson University, the Flagship Enterprise Center is a technology-based business incubator and SBA microlender in Anderson, Indiana.