New Albany, Ind. – (October 10, 2016) – The Horseshoe Foundation of Floyd County (HFFC) announced Schroeder Dental as a beneficiary of its Small Business Revolving Loan Fund program (RLF). The HFFC loan fund was established in 2007 and granted its first loan in March 2009. The program is designed to assist private business enterprises based in Floyd County with expanding their operations and retaining or increasing employees.
For the past three years, Schroeder Dental, located at 4781 Paoli Pike, Suite 3, Floyds Knobs, Ind., has been serving patients in Floyds Knobs, New Albany, Lanesville, Jeffersonville, Clarksville, Georgetown, Corydon, Palmyra, Pekin, and Salem, Ind., as well as from Louisville, Ky. Owner Dr. Erin L. Schroeder, DMD, was awarded a loan in the amount of $50,000 in order to position her company for future growth.
“I have lived in Southern Indiana all of my life and have always had the desire to give back to the community,” said Schroeder. “It is inspiring to receive support back from my community in the form of the Horseshoe Revolving loan so that we can continue taking care of the existing patients, as well as attract new patients from surrounding communities. This growth would not have been possible without the help of the Southeast Indiana Small Business Development Center and, of course, the Horseshoe Foundation.”
“The Horseshoe Revolving Loan Program allows companies that are growing to have access to gap funding to complete their projects,” said Julie Rigrish, regional director of the Southeast Indiana Small Business Development Center (ISBDC). “This funding allows businesses, like Schroeder Dental, to take on new clients, which, in turn, adds new jobs and revenue to the local economy. Access to programs like this one drive economic impact in Floyd County, and we are happy to help in any way we can.” The ISBDC assists loan applicants by helping them with their business plans and projections, required reporting, demographics and market analysis.
"Dr. Schroeder is a super hard worker, dedicated to her customers and chosen profession,” said Dr. Al Knable, chair of the Small Business Revolving Loan Fund Committee. “We're very fortunate that an entrepreneur of her caliber has chosen New Albany-Floyd County as the place in which to make her dreams become reality. We are very excited we can help."
Applicants are required to be in business in Floyd County and have a minimum of two years’ experience. A nine-member Small Business Revolving Loan Fund Review Committee, consisting of directors from the HFFC and representatives of the local business community and One Southern Indiana evaluate loan applications and determines funding decisions. Maximum loan terms are 10 years for land and building financing, five years for equipment loans and two years for working capital loans. The loans offer an interest rate of 2 percent below prime with a minimum rate of 3 percent.
“The influx of new retail, restaurant and service businesses in New Albany by entrepreneurs continues to indicate that Southern Indiana’s economy is strong and expanding. We are excited to announce small business growth projects, not only because of the impact for the families that are supported, but also the enhancement to quality of place for residents, visitors and prospectors,” stated Wendy Dant Chesser, President and CEO of 1si. “We are very fortunate to have the Horseshoe Foundation of Floyd County Small Business Revolving Loan Fund to support local businesses like Schroeder Dental.”
Individuals interested in learning more about the Small Business Revolving Loan Fund or wanting to obtain an application packet should visit 1si.org and click on the Business Resources tab or contact Elizabeth Baxter at 812-206-9021 or firstname.lastname@example.org.
About Schroeder Dental:
Schroeder Dental, located in Floyds Knobs, Indiana, offers a wide variety of services with many options and prides themselves on the comprehensive care they provide their patients by looking at all aspects of their dental needs and creating a treatment plan unique to their needs.
Services provided by Schroeder Dental include
Crowns and Bridges
For more information, please visit: www.schroederdental.net
About Horseshoe Foundation of Floyd County:
The Horseshoe Foundation of Floyd County (HFFC) is a private foundation established in 1999 whose sole benefactor is Horseshoe Southern Indiana. The Foundation was created to encourage economic growth and improved quality of place in Floyd County. Since its beginning, the HFFC has given $1.7 million in Small Business Revolving loans. Gifts to the community total $38 million since 1999. For more information, visit www.horseshoefoundation.org
About One Southern Indiana:
One Southern Indiana (1si) was formed in July of 2006 as the Chamber of Commerce and Economic Development organization serving Clark and Floyd Counties. 1si’s mission is to provide the connections, resources and services that help businesses innovate and thrive in the southern Indiana/Louisville metro area.
Since its inception, the organization has evolved to include a three-prong approach to serve its members and investors. Business Resources, as the chamber side of the organization, encompasses membership, signature events and programs which support and encourage business growth; Economic Development works to grow the regional economy through the attraction of new commerce and assists with retention and expansion of existing businesses; Advocacy supports businesses at the government level by engaging in initiatives to preserve, protect and promote a business friendly environment free of obstacles to growth and development of commerce. http://www.1si.org
Dr. Erin L. Schroeder, DMD
One Southern Indiana
Horseshoe Foundation of Floyd County