Ball State to take out line of credit from First Merchants
Ball State's Board of Trustees approved the university to take out its first line of credit to prepare for financial uncertainty amid the COVID-19 pandemic. The line of credit will be provided by First Merchants Bank, said Mark Hardwick, member of the Board of Trustees. Hardwick, who works as the executive vice president, CFO and COO of First Merchants Corporation, recused himself from voting on the approval. Alan Finn, Ball State's vice president for business affairs and treasurer, said it is important for the university to have a line of credit available should it be needed. "I've had a line of credit available at every other institution that I've been at, just to provide a short-term funding mechanism," Finn said....