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FIRST INDEPENDENCE AND MSHDA HONOR CAP GRADS

 DETROIT, Aug. 31 /PRNewswire/ -- First Independence National Bank and the Michigan State Housing Development Authority (MSHDA) will honor graduates of the Contractor Assistance Program (CAP) at the first annual CAP dinner banquet on Thursday, Sept. 2, from 5:30 to 9:30 p.m. at the Radisson Hotel-Pontchartrain.
 The dinner will acknowledge Michigan contractors who have received CAP loans and completed classroom training emphasizing business skills including estimating and bidding, budgeting, scheduling, cash management, cost control and financial reporting. The training program is administered by representatives from First Independence, the local construction industry and the community. CAP is a partnership between First Independence and MSHDA that provides working capital loans, networking opportunities and ongoing skills training to help qualifying Michigan contractors build strong businesses.
 For more information on the CAP dinner banquet, call Alberta Pearson at 313-256-8819.
 "As Detroit's community bank, we are pleased to honor our CAP graduates," said Don Davis, chairman of First Independence National Bank. "CAP is an important component of our ongoing efforts to support Michigan's small, minority and women-owned businesses."
 CAP offers low-interest, working capital loans of up to $50,000 to qualifying small contractors. The loans are made and administered by First Independence National Bank. To be eligible for participation in CAP, contractors must have two years' experience and meet specific financial criteria. For more information on CAP loans, call Micah Glenn at First Independence National Bank at 313-256-8200. Detroit-based First Independence National Bank is Michigan's oldest and largest minority-owned-and-operated financial institution.
 -0- 8/31/93
 /CONTACT: Mary Sagripanti, 313-567-5212, or Dick Kelley, 313-567-5003, both of Anthony M. Franco, Inc., for First Independence National Bank/


CO: First Independence National Bank; MSHDA ST: Michigan IN: SU:

SB-CB -- DE020 -- 7578 08/31/93 14:40 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
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