(BEDFORD) – Indian Creek Stone Products has started production at a previously vacant stone mill facility once used by a different stone company. The new facilities are located within 12 miles of Indian Creek Stone Products’ existing site west of Bedford.
Indian Creek Stone Products purchased the property with assistance from the U.S. Small Business Administration 504 loan program through German American Bank and Indiana Statewide Certified Development Corporation.
Owners Tom and Jeff Kimmel founded Indian Creek Stone Products 36 years ago. The company has 32 employees. It has become a leading producer of Indiana Sandstone and Indiana Limestone materials, including weathered sandstone fieldstone and other hardscape materials, natural Thin Stone veneer and standard veneers. The company’s materials adorn homes and commercial buildings throughout Indiana and are shipped across the U.S. and into Canada.
Indian Creek Stone Product’s additional space totals over 26,000 square feet for slab production, custom fabrication operation and much of the company’s standard materials production. Indian Creek Stone Products has operated a sandstone quarry, limestone quarry, and two mill operations for several years.
Company President Tom Kimmel says Indian Creek Stone Products will hire three stone sawyers and two general laborers as a result of this expansion, with more anticipated in coming years.
Indiana Statewide CDC works with local Indiana lenders to issue SBA 504 loans to help owners of expanding or startup small businesses buy real estate, buildings, and equipment. SBA 504 loans can give small business owners long-term, fixed-rate financing similar to commercial loan terms available for large companies.
Joshua Stolz of German American says, “The 504 program allows Indian Creek Stone Products to expand their operations in a specialized field. And the borrower knows they are getting beneficial loan terms while meeting the bank’s requirements.”
Stolz adds, “Indiana Statewide CDC provides a helpful checklist for the borrower and bank to know exactly what info is required. They help with every step along the way.”
Tom Kimmel says, “The SBA 504 program is built on individuals investing in our communities, which we really appreciate. In this case, it has helped a small business grow and expand into a new market. As a result, we will be able to attract new, talented, productive members to our team.”
Indiana Statewide CDC has provided more than $530 million to 1,260 Indiana companies since 1983, creating or saving more than 20,000 jobs, and is the most prolific CDC in Indiana.
Executive Director Jean Wojtowicz says, “SBA 504 loans help small businesses grow because borrowing companies can put as little as 10 percent down and receive a low, fixed interest rate for as long as 25 years. The SBA guarantees bonds sold privately to finance a portion of the loan. With the guarantee, we can offer more favorable loan rates than generally available to small businesses.”
German American Bank provides banking, insurance, investment and wealth management services in southern Indiana and Kentucky. Headquartered in Jasper, Indiana since 1910, German American has grown to more than 800 employees in 65 offices in 24 counties.
Indian Creek Stone Products began as a landscaping company, that quickly focused on providing sandstone to other landscapers. We are thankful for the energy, skill, and dedication of our quality employees; the loyal and creative customers that make us look so good; local businesses that supply the parts, fuel, and services that keep the company running; and the solid support of friends in the banking community. (James 1:17; “Every good gift and every perfect gift is from above, and cometh down from the Father of lights.”)