Nurse and Attorney Lorie A. Brown moves to Broad Ripple with SBA 504 Loan from Huntington Bank and Indiana Statewide CDC
Indy Chamber News Archives
Lorie A. Brown is a Registered Nurse and an Attorney. During her early years in health care, she says she realized many nurses did not know how to protect their most valuable asset, their license.
Brown graduated from the Indiana University School of Law in 1990 and opened her own law practice 17 years ago to specialize in helping health care workers to defend their licenses. She also formed EmpoweredNurses.org, an organization designed to teach nurses how to speak their mind, stand in their power and be a change agent to improve patient care while legally protecting their license.
Brown Law Office recently opened a new location in Broad Ripple, in an office building she purchased using U.S. Small Business Administration 504 financing from Huntington Bank and Indiana Statewide Certified Development Corporation.
Indiana Statewide CDC works with local lenders to provide SBA 504 loans to owners of small businesses. SBA 504 loans can give small business owners long-term, fixed rate financing similar to commercial loan terms available for large companies.
Brown says, “The loan process was very easy. Indiana Statewide CDC explained everything.” She adds that the loan terms -- compared to rates and down payment requirements for most commercial loans -- allowed her to enhance her office with hardwood floors, furniture and a sign out front.
Brian Burrell was the commercial loan officer for Huntington Bank who proposed SBA 504 financing.
Indiana Statewide CDC 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 20 years. The SBA guarantees bonds sold privately to finance a portion of the loan. With the guarantee, we can offer loan rates more favorable than those of commercial financing.”
Brown employs two assistants full-time in the office and two others in part-time roles. She has represented more than 400 health care professionals -- nurses, physicians, dentists, pharmacists, veterinarians and others -- before their professional licensing boards in Indiana. She also co-counsels with attorneys in other states.
Brown says, “Most of our clients are hardworking professionals that never thought they’d get in trouble before their professional board. Yet it happens. Anyone – a patient, co-worker, supervisor, family member – can file a complaint against any health care provider, and once that happens they have a short time to respond. We help our clients gather and preserve evidence to protect their license and prepare a response and defend them if and when administrative charges are filed.”
Background:
Indiana Statewide CDC has provided more than $463 million to 1,145 Indiana companies since 1983, creating or saving 28,000 jobs, and is the most prolific CDC in Indiana.
Since Congress created the 504 program, SBA 504 loans have funded over $67 billion to more than 135,000 small businesses in the U.S. In turn, those small firms have created or retained over 2.1 million jobs.
Brown Law Office concentrates its practice on helping health care workers protect their most valuable asset...their license to practice and continue helping patients in the profession they love.
Huntington Bank features the SBA 504 program among its business loan offerings. Huntington Bank has over 700 branches in Indiana and other states.
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