CDC Small Business Finance Helps Create, Save Over 7,000 Jobs

October 26, 2015 | Community Advantage

More than 7,100 jobs were created and preserved at 440 small businesses that received more than $800 million in SBA financing provided by CDC Small Business Finance in fiscal year 2015, ending Sept. 30.

“Putting capital in the hands of small businesses results in new jobs and strengthens communities,” said Kurt Chilcott, president/CEO of CDC Small Business Finance, which provides loans in California, Arizona and Nevada. “We’re extremely proud of the economic impact we’ve had serving the needs of small business entrepreneurs.”

CDC Retains #1 SBA Lender Ranking in 2015

CDC summarized other measures of its 2015 impact:

Much of CDC’s impact has come through providing SBA-504 loans, which allow small business owners to purchase their own building or large equipment. The loan only requires a 10-percent down-payment on a 20-year fixed-rate mortgage. SBA-504 loan rates have been under 5 percent for 14 out of the last 15 months.

Most business owners come to the crossroads of whether they should buy a facility or continue to lease. In addition to the historic low interest rate, there are long-term equity and tax benefits.

CDC leads the nation in SBA Community Advantage loans, which make available between $50,000 and $250,000 for starting, expanding or upgrading a business.

For more information about getting a small business loan, visit CDC Small Business Finance.

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