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Greenfield's Hometown Comics and Games opens in new location with SBA 504 loan from Greenfield Banking Company and Indiana Statewide CDC
The Lake County Economic Development Commission (LCEDC) is issuing a grant for $750,000 to the Community Investment Fund of Indiana (CIFI). The funds will provide loans and technical assistance to small businesses in Lake County.

Donald and Frances Hull started Hometown Comics and Games as a part-time venture. In 2013, the husband-and-wife duo went full-time with their passion. Now, Hometown Comics is opening its third store in Greenfield, each larger than its predecessor.

Hometown Comics' new store is on North State Street (IN 9), near downtown Greenfield and about two miles south of I-70. It's the first time the Hulls have owned the building housing their store. They are using a loan from the U.S. Small Business Administration 504 program through Greenfield Banking Company and Indiana Statewide Certified Development Corporation to buy and remodel their building.

Indiana Statewide CDC works with local Indiana lenders to issue SBA 504 loans to help owners of expanding small businesses buy real estate, buildings and equipment. SBA 504 loans help small companies gain favorable financing terms similar to those available to large companies in conventional loans.

Greenfield Banking Company's Greg Woods says, "This is an ideal community bank loan. Hometown Comics is not a franchise, it is locally owned and operated. The SBA 504 loan allows us to help a small, local job-creator."

Frances Hull says, "The 504 loan helped the bank say, 'yes,' because part of the loan is coming from the sale of a bond guaranteed by the SBA."

She says the new store is closer to the street and more visible to passers-by than Hometown Comics' previous location farther north on the same street. Additionally, she says, "Eventually, the whole building will be just us (after a current tenant completes its lease)."

Donald and Frances (and co-owner and daughter, Adrianna) operate Hometown Comics seven days a week. They have five part-time employees. The store's website boasts of a full game room with plenty of seating, and of affiliations with Konami Tournaments, Wizards of the Coast and Pokemon leagues.

Background:

Indiana Statewide CDC has provided more than $515 million to 1,240 Indiana companies since 1983, creating or saving more than 15,000 jobs, and is the most prolific CDC in Indiana.

Greenfield Banking Company(www.gbcbank.com) In 1871, Greenfield Banking Company was formed by five farsighted businessmen in the fairly-new community of Greenfield. To-day, Greenfield Banking Company offers complete banking, investment and financing services to Greenfield and more than four other Hancock County Communities.

Hometown Comics and Games (www.hometowncomitsandgames.com) has been steadily growing and is now in its third Greenfield location since it opened in 2007. (The others were downtown and near I-70.) It is an official Konami tournament store, Wizards of the West Coast advanced store and Pokemon league store. It hosts gaming and magic tournaments and offers card and board games and thousands of comics.

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