FOR IMMEDIATE RELEASE

Horseshoe Foundation of Floyd County and One Southern Indiana name first recipients of Small Business Revolving Loan Fund

Photos courtesy of Morris Images

NEW ALBANY, Ind. - (March 20, 2009) - The Horseshoe Foundation of Floyd County (HFFC) has named PTG Silicones and The New Albanian Brewing Company as the first recipients of the Small Business Revolving Loan Fund program, which was launched in December 2007. The fund was created to assist emerging private business enterprises based in Floyd County with expanding operations and increasing or retaining employees. It is capitalized by a $250,000 grant made by HFFC and administered by One Southern Indiana.

"On behalf of the members of the Horseshoe Foundation Board of Directors, we are very excited to provide funding to these two companies," said Kevin Zurschmiede, Horseshoe Foundation of Floyd County board member. "Loans to these companies represent the Foundation's commitment to helping local business. It is our goal to continue helping local businesses 'bridge the gap' with financing that will help them expand and provide much needed jobs in Floyd County."

The first loan recipient is PTG Silicones, a manufacturer of liquid silicone rubber components for the healthcare, aerospace, automotive, and appliance industries. They also have clean room manufacturing capabilities. The company will use $33,600 in HFFC loan funds to finance new equipment at their facility at 827 Progress Boulevard in New Albany. "The funds from the Horseshoe Foundation of Floyd County Small Business Revolving Loan Fund will help keep Southern Indiana industry competitive by improving PTG Silicones' manufacturing capabilities and lowering its production costs. The increased efficiency will help us weather the current economic downturn by maintaining existing customers, growing the area's reputation for manufacturing by attracting new customers, and hiring and training additional local workers," said Brendan Cahill, President of PTG Silicones.

"PTG Silicones is an exciting company ready to make the next growth step. In a time when attracting capital is challenging, the Horseshoe Foundation is proud to reinvest in New Albany and assist PTG as they continue to grow," said Ryan Hammer, Vice President of casino operations for Horseshoe Southern Indiana and Horseshoe Foundation of Floyd County board member.

The New Albanian Brewing Company, a handcrafted beer establishment operating locations at 3312 Plaza Drive and 415 Bank Street in New Albany, is the second loan recipient. The company will use $50,000 in HFFC loan funds to finance the completion of its Bank Street Brewhouse and new equipment for their facilities. "The Horseshoe Foundation of Floyd County Small Business Revolving Loan Fund is helping to bring our New Albanian Bank Street Brewhouse to fruition, which enables us to fulfill our goals of expanding the company's brewing capacity and revitalizing downtown New Albany," stated Roger Baylor, co-owner of The New Albanian Brewing Company.

"The Horseshoe Foundation is thrilled to be involved in the ongoing revitalization of downtown New Albany and assisting the New Albanian expand its business," added Hammer.

"In this economy, we know this Revolving Loan Fund is a welcome resource for these companies," said Michael Dalby, President of One Southern Indiana. "We value their presence in Southern Indiana and wish them all the best in building their businesses here for years to come."

Applicants are required to be in business in Floyd County for a minimum of two years. An eight-member Revolving Loan Fund Review Committee consisting of members from the HFFC, the local business community, and One Southern Indiana evaluate loan applications and determine funding decisions. Maximum loan terms are 10 years for land and building financing, five years for equipment loans, and two years for working capital loans. The loans offer an interest rate no greater than Prime.

Businesses interested in learning more about the Horseshoe Foundation of Floyd County Small Business Revolving Loan Fund or obtaining an application packet should visit www.1si.org and click on the Business Resources tab or contact Kathleen Crowley at 812.945.0266.

About One Southern Indiana:
One Southern Indiana is a business advancement organization dedicated to supporting entrepreneurship, existing business growth, and attracting new enterprises to the Greater Louisville/Southern Indiana region. Representing more than 1,300 businesses, One Southern Indiana provides its clients with business intelligence, advocacy, and connections solutions in support of regional business innovation. Since the organization's founding in 2006, One Southern Indiana has helped businesses add $202 million in new capital and 4,694 new jobs worth $163 million in new payroll to the regional economy. For more information, please visit www.1si.org.

About Horseshoe Foundation of Floyd County:
The Horseshoe Foundation of Floyd County (HFFC) is a private foundation established in 1999 by Caesars Indiana in partnership with Floyd County and New Albany officials. Originally named The Caesars Foundation of Floyd County, it was renamed in 2008 when Caesars Indiana re-branded as Horseshoe Southern Indiana. The Foundation was created to provide an additional funding source for community organizations in Floyd County. In the past nine years, HFFC has given $17.5 million to the Floyd County community during the past nine years. For more information, please visit www.horseshoefoundation.org.

MEDIA CONTACT:
Ginger Wilding Cloud (for One Southern Indiana)
502.742.9187
ginger@distinctive-marketing.com