CDC Small Business Finance Tops Small Business Administration's Lenders List

Business Wire, Nov 9, 2000

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Nov. 9, 2000

The San Diego District of the U.S. Small Business Administration (SBA) has named CDC Small Business Finance (CDC) its leading lender for the year 2000.

CDC led the SBA San Diego District in both the numbers of loans made and the total dollars lent over the 12-month period from Oct. 1, 1999 to Sept. 30, 2000. CDC processed 115 transactions for nearly $50 million in 504 loans.

"While we are always honored to be at the top of the list, we owe our success to the SBA and the lenders who participate in our programs," said CDC President and CEO Kurt Chilcott. "The most important beneficiaries of our efforts are the communities who will prosper from the jobs -- over 1,100 -- these small businesses create.

CDC also led the District in the number of loans to minorities and to veterans. Although CDC provides a variety of lending programs, CDC's premier product is the SBA 504 loan program, The 504 Program partners with local lenders to provide up to 90% financing for small business owners who buy, build or remodel their buildings.

"CDC Small Business Finance has a well-deserved reputation for assisting small businesses throughout the area," said George Chandler, SBA's San Diego District Director. "In 2000, the CDC helped well over 100 San Diego businesses to grow their companies. Moreover, the CDC's excellent reputation for providing such assistance extends to Imperial, Orange and Riverside Counties. SBA is fortunate to have such a strong and reliable partner."

About CDC Small Business Finance

Founded in 1978, CDC Small Business Finance is a not-for-profit organization committed to serving the capitol needs of small businesses in San Diego, Orange, Riverside, and Imperial counties. CDC is the largest of over 260 Certified Development Company's nationwide working with the U.S. Small Business Administration to provide financing for small businesses. CDC's economic development mission is to assist small businesses in all communities to expand and create jobs.