Hear from Kurt Chilcott, President + CEO, CDC Small Business Finance
Empowering entrepreneurs to invest in their future through building and equipment ownership
Catalyzing small business ownership with low-interest, sustainable working-capital loans
Delivering targeted capital to empower and re-energize communities
The SBA recognized CDC Small Business Finance as a lender that has gone above and beyond in helping the small business community. Read more
While some people are fine coasting through life, others like Mia Davis only want to summit mightier mountains. Her last two-plus decades have encompassed immigrating to the U.S. from Guam, launching a new career while moonlighting as a restauranteur.
Upon learning a landmark sushi joint in Carlsbad, Calif. was set to close, she saw opportunity written all over this development. She’d go on to buy the business, Mikko Sushi, then freshen up the menu and branding. When she was ready to launch the second location of Mikko Sushi, in nearby Vista, Calif., her entrepreneurial instincts told her buy, not lease, a space for the new site.
CDC Small Business Finance provided her a $1.4 million SBA 504 loan to finance a 3,800-square-foot building to house this location. With this loan, Davis not only enjoys a low, fixed rate, she also came away knowing she is investing in her business’ future while building personal wealth. More of Mia’s story
By virtue of being born in the poor, west African nation of Guinea, Ousmane Condé saw entrepreneurship as a means of survival. He witnessed villagers like his mother and grandmother start their own simple enterprises, from selling bottled water to home-cooked meals, to make ends meet.
Channeling that determination, Condé is taking his software startup, Xoomdat, to the next level. While most lenders shy away from funding startups, CDC Small Business Finance saw the promise in Condé and his bold concept of an alternative search engine that boasts more relevant, timely results.
He received an SBA Community Advantage loan, which allowed him to hire more staff and in turn spend more time with family. “Entrepreneurship just comes naturally to me,” he said. “I’m not scared of jumping off the cliff; I’ll find a way to fly even if I don’t have wings.” Read more…
approved for small businesses
entrepreneurs financed
approved for women, veterans and minorities
jobs created and preserved
business advisory hours
provided at no cost
Robert Villarreal, EVP, Economic Development + Allison Kelly, SVP, Strategic Initiatives
%
With the help of strong allies, we can certainly achieve both. Maintaining these complementary goals is more important than ever as small business owners continue to face the pressing challenge of access to affordable and responsible financing to launch and grow their businesses. In turn, these loans support the growth and success of the communities in which these businesses are based. Want to make an impact? Connect with Allison Kelly at akelly@cdcloans.com or Robert Villarreal at rvillarreal@cdcloans.com
What started as an a-ha moment involving so-called “healthy” diet choices has evolved in a successful natural frozen-food line that’s caught the attention of nationwide retailers.
Behind the wheel of this growing empire is Angela Bicos Mavridis. The former retail-shop owner turned holistic nutritionist says many of the protein bars and shakes she consumed were making her feel sick. This motivated her to launch Tribalí Foods — a meat product line that offers the convenience of frozen meals without the artificial ingredients you may find in other brands — all inspired by her Greek heritage.
To maintain her company’s bullet train-like momentum, she came to CDC Small Business Finance for an SBA Microloan, financing designed to help young companies get off the ground. Mavridis used the funds to keep the production pace strong and to buy raw materials. It also helped her focus on getting her product into more retail giants including Whole Foods, Target and Bristol Farms.
“We had great momentum, brand recognition and growth, we just needed a way to finance that growth,” she said. More on Tribali Foods
– Angela Bicos Mavridis, Owner, Tribalí Foods
%
Prudential – $15M | CNote – $5M
Manufacturers Bank – $2M | US Bank – $1M
City of San Diego – $1M | Citizens Business Bank – $500k
We’ve long believed in the far-reaching, transformative power of owning commercial real estate especially in communities that need the most support. Ownership allows entrepreneurs to take control of their own financial destiny. Business owners that purchase their building begin creating wealth for generations, not just household income but household wealth. Each and every SBA 504 loan project can have a profound rippling effect on our communities by generating more jobs, spurring improvement projects and ultimately elevating neighborhoods.
Air Force veteran Gustavo Ramos tired of the franchisee life, receiving little return on his investment and no support from the franchise company. Years of stagnation motivated him to launch his own firm, the Los Angeles Glass Company, which repairs and replaces glass in homes and businesses.
Ramos experienced the typical challenges of a startup. He needed financing to retain former clients and create a website that could effectively showcase his glass work. Traditional banks declined his request for a business loan, given the young age of his operation. But with the help of an arm of CDC Small Business Finance, he was able to get the affordable working capital he needed.
The Small Business Finance Fund — a community development financial institution and affiliate of CDC — was tailored specifically to help Latino or African American small business owners in the Los Angeles area like Ramos. The financing helped him fulfill outstanding purchase orders and expand his business throughout Los Angeles, Orange County and the San Fernando Valley. Learn more
$18.4B financed • $96.8M approved for SBA Community Advantage
$9M in SBA Microloan financing • 203,000+ jobs created/preserved
Over 11,000 businesses funded
© Copyright 2019 CDC Small Business Finance