Bloomington— First Financial Bank in conjunction with the Gayle & Bill Cook Center for Entrepreneurship at Ivy Tech Community College Bloomington are pleased to announce a new micro-lending program to benefit small businesses. The new loans are available in amounts up to $10,000 and will provide needed capital to help businesses start, grow, and expand.
Small businesses seeking the new microloan funding will be provided training and assistance through Ivy Tech’s Cook Center for Entrepreneurship.
“This innovative lending program and collaboration provides financing to small businesses that may not have access to other funding,” said Cindy Kinnarney, market president for First Financial Bank. “First Financial Bank is committed to providing solutions and meeting the needs of the communities we serve.”
“The Cook Center will work with prospective startups to develop business and financial plans to prepare them to apply for their microloans at First Financial Bank,” said Steve Bryant, executive director of the Cook Center for Entrepreneurship.
Microloan applications will be available at the Cook Center upon completion of the training program.
“This provides a great opportunity for businesses in Bloomington to grow and prosper,” said Mayor John Hamilton. “I commend the collaboration between Ivy Tech’s Cook Center for Entrepreneurship and First Financial Bank for filling this need.”
The First Financial Microloan program provides flexible terms, with a 6 month, interest only draw period and a repayment period of up to 48 months. Pricing is based on Prime rate plus 2 percent. For more information on the loan process, contact Cindy Kinnarney, market president at First Financial Bank.
Interested applicants can contact the Cook Center for Entrepreneurship at 812-330-6261 to set up an appointment for training.
About the Gayle & Bill Cook Center for Entrepreneurship
The Gayle & Bill Cook Center for Entrepreneurship at Ivy Tech Community College Bloomington (ivytech.edu/entrepreneurship) provides practical tools to help entrepreneurs of south central Indiana start and grow businesses. Founded in 2010 to honor one of the region’s most successful entrepreneurs, Bill Cook, the Cook Center embodies Mr. Cook’s philosophy of ‘ready, fire, aim’ entrepreneurship by giving students and others the skills and resources they need to start businesses.