May is Small Business Month, and Intend Indiana is taking the time to highlight our recent BuildSmart Loan Recipient, Blancha Funkhouser, owner and CEO of ACT Development, LLC.
Blancha is a general contractor who founded her business, ACT Development, in 2007. She began with a focus on residential construction, repair, and alteration projects for local Community Development Corporations and has now worked on projects around Indianapolis.
Like most small business owners, Blancha’s biggest obstacle in growing her business was an inability to access enough capital. She knew that in order to expand her business, finding a loan product to meet her needs was a must. That’s when she was introduced to BuildSmart!
“BuildSmart is geared toward helping a small business as opposed to being a hindrance,” Blancha said. “This loan allows me to do the work, get things done, and pay my suppliers and contractors.”
According to Blancha, her experience with BuildSmart can be summarized as follows:
- Reasonable & expected timelines
- Staff stayed in touch throughout the process
- Offered more flexibility than traditional banks
- More competitive rates
- Better ratio
- Less underwriting time
- Borrower friendly
“I really, really love this loan product; it was a godsend!”
Blancha was also a successful bidder as part of our Affordable HomeMatters housing development and was awarded a construction contract and will be the general contractor for one of the Affordable HomeMatters new construction homes as part of Martindale Brightwood Lift Indy! We LOVE helping small business owners in our community achieve their dreams.
BuildSmart is designed to meet the needs and support the capacity of developers and contractors engaged in the construction, renovation, and rehabilitation of quality, affordable owner-occupied housing in Central Indiana.
With ﬂexible terms, competitive rates, and an efficient application process, BuildSmart provides a responsible source of capital to scale the construction industry’s ability to better meet the affordable housing need in our community as part of a comprehensive economic development strategy.