Rocco P. Perate Receives Financial Services Champion of the Year Award from Small Business Administration

Business Wire,  May 16, 2008  

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WILMINGTON, Del. -- On May 19th, Preferred Capital president and CEO Rocco P. Perate will be honored by the U.S. Small Business Administration's (SBA) Delaware District Office as the 2008 Financial Services Champion of the Year. Perate and other SBA Delaware District Office honorees will receive their awards on May 19, 2008 at the Deerfield Golf and Tennis Club in Newark, Del. as part of National Small Business Week.

Perate was selected as an honoree because of the outstanding financial services he provides to small business customers as well as for his strong advocacy of the region's small business community. Since founding Preferred Capital BIDCO, Inc. in February 2004, he has made SBA loans approaching $75 million total. He has assisted more than 150 small businesses and contributed to the creation and retention of approximately 2,000 jobs in the region. Furthermore, a high percentage of Preferred's clients are women and minority owned businesses.

Nick Manekshaw, owner of Palace of Asia restaurant in Wilmington, Del., nominated Perate for the award. Manekshaw, who financed two restaurant projects through Preferred Capital, described Perate's contribution to small businesses and entrepreneurs as "building bridges between [the] dreams and financial needs of start-up companies."

Said Perate, "I share this award with the entire team of dedicated professionals I work with at Preferred Capital. I'm also grateful to Jayne Armstrong, director of the SBA Delaware District Office. Jayne and her staff work tirelessly to promote and support small businesses in Delaware."

For more information about the SBA awards, visit http://www.sba.gov/localresources/district/de/index.html.

Preferred Capital BIDCO, Inc., one of the mid-Atlantic region's top U.S. Small Business Administration lenders, is a nationally chartered, non-depository lending institution licensed by the Delaware State Banking Commission and a National Preferred Lender with the U.S. Small Business Administration. Preferred Capital's corporate headquarters are located at 300 Delaware Avenue, Suite 1380, Wilmington, Del. 19801.

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