Access to capital continues to be a major challenge to African American and Hispanic small business owners.

There are more than 8 million minority-owned small businesses in the U.S., accounting for $1.3 trillion in annual sales of goods and services, according to the U.S. Small Business Administration (SBA). The SBA reports that 30% of minorities feel discouraged from seeking private loans to help them grow, in part because they are disproportionately denied capital by traditional financial institutions.
Some lending companies are working overtime to put loan programs in place to help underserved entrepreneurs. Case in point is CDC Small Business Finance, which recently established a new Community Development Financial Institution (CDFI) fund to assist small business owners in underserved neighborhoods of greater Los Angeles.

Financing veteran Antonio Pizano is working one-on-one with African American and Hispanic small business owners in economically distressed areas of Los Angeles. He will help them gain access to financing not typically available from traditional financial sources. Pizano’s team will include loan underwriter and credit expert Joanne Dao.
“We’re committed to making an impact by getting capital into the hands of small business entrepreneurs who’ve historically been unable to obtain affordable financing,” said Robert Villarreal, president of the new CDFI fund. “We want to educate small business owners about lending options in the marketplace so they choose wisely for the sustained growth of their companies.”

As CDC Small Business Finance and other CDFIs across the country connect with underserved communities, small business owners will gain access to capital and be able to achieve their vision for their business, employees and community.

Throughout the year we will share updates on the amount of capital being deployed to underserved entrepreneurs and how CDFIs are creating positive change and opportunity for small business owners.We Believe! in small businesses

Posted on 3/24/2017

PricewaterhouseCoopers-logoThe addressee on your monthly payments has changed. As your trusted partner, you can count on us to alert you to program changes that affect you and your loan with us. Please see below for any action you may need to take.

This week, the SBA announced it has selected PricewaterhouseCoopers as the new Central Servicing Agent (CSA) for the commercial real estate loan program also referred to as the SBA 504 loan. This change is effective immediately and will be reflected in the monthly statements you receive from your bank.

The mailing address has remained the same.  Please note the new addressee below:

PricewaterhouseCoopers Public Sector LLP
c/o Wells Fargo Bank, N.A.
Corporate Trust Services
Attn: 504 Central Servicing Agent
9062 Old Annapolis Road
Columbia, MD 21045-1951

Most of you use auto payments, so you don’t need to take any action other than to note the new addressee that you will see on your bank statement. In order to keep it convenient for your small business, as you can see, the impact to you is nearly unnoticeable.

If you have any questions regarding this change, please reach out to us at 800-611-5170 or

*** Did you know? ***

The Central Servicing Agent is an integral part of the process that allows us to provide you some of the lowest commercial real estate loan rates possible!

Each SBA 504 loan is funded by a bond that is sold on Wall Street. As one single investment, it allows investors to compete for bids on the sale of the bond resulting in very low rates for your small business. The CSA then manages and allocates those funds from the sale of the bond across the nation to each individual 504 loan and to each CDC nationwide.

And now you have access to money that is affordable to support your business and success.

Posted on 3/14/2017

Women who own small businesses are among the millions being honored today (March 8) on International Women’s Day, in part because of their strategic use of financing to grow their companies and create new jobs.

The number of women-owned firms is now estimated to have surpassed $9.4 million, generating revenue of nearly $1.5 trillion and employing close to eight million workers. Women-owned firms now make up an estimated 30 percent of all businesses in the U.S.

Women small business entrepreneurs own all sizes and varieties of successful companies. One of the reasons for their success is their ability to leverage capital to grow and create new jobs.
One such business is Chunk-n-Chips Cookies, based in Santa Ana, California. Owner Claudia Gonzales initially leveraged an SBA microloan from CDC Small Business Finance to jumpstart her company and then took advantage of SBA Community Advantage loans to purchase and outfit a food truck and later open a retail store for her unique, yummy products.

Owner Maria Harrington, center, with Casa de Espanol staff in Sacramento

Latina Maria Harrington opened Casa de Espanol in downtown Sacramento in 2011. A few years later she’d outgrown her original facility. She found a new 4,000-square-foot location to double the school’s space, but needed cash to renovate the facility. She turned to CDC Small Business Finance which helped her secure an SBA Community Advantage loan. With the expansion, Casa De Espanol anticipated increasing its adult students from 304 to 540, a 77% gain.

Posted on 3/08/2017