CDC Small Business Finance Corp Names Union Bank of California Top 1999 Lender

Business Wire, Jan 27, 2000

Business Editors

CARLSBAD, Calif.--(BUSINESS WIRE)--Jan. 27, 2000

CDC Small Business Finance Corp named Union Bank of California as its 1999 leading lending partner for the San Diego Small Business Administration (SBA) district.

The award, presented Wednesday at the first annual CDC Luncheon, was presented to Union Bank based on its participation in the SBA 504 loan program.

Union Bank partnered with CDC in 1999 to approve thirty-one 504 loans for projects totaling nearly $50 million in the two county area of San Diego and Imperial counties.

The 504 loan program was begun in 1980 as an economic development tool, providing funds for expanding businesses that are providing benefits to their communities, such as job creation, expansion of tax base, and expansion of personal income.

CDC Small Business Finance Corp, a non-profit organization, was founded in 1978 to serve the financing needs of small business owners in San Diego, Orange, Riverside, and Imperial counties. CDC is the largest of nearly 300 certified development companies nationwide working with the SBA to offer financing to small businesses. For more information about CDC or the 1999 lending awards, contact CDC at 619/291-3594.