This week CDC Small Business Finance’s CEO & President, Kurt Chilcott, sat down with Bob Coleman of the Coleman Report via Skype. It was a great opportunity for the two to talk about some of the big news topics and events affecting the world of SBA financing.
An important point touched on in their conversation was the SBA-504 Refinance Program. Although short lived, the Refi program was impactful and there is encouragement from the House and Senate on reestablishing the program for small businesses. “We’re seeing increasing support for the Debt Refi and bringing that back and we’re hopeful when we travel to Washington in early March that we will be able to send that message and get even more support,” said Kurt, “this is really about accessing equity that is trapped. And if they can access that equity they have capital that they can put into equipment, hiring new employees and into expanding.”
Additionally discussed between Bob and Kurt are the big changes with NADCO’s new executive director Beth Solomon and the news that Karen Mills will be stepping down as SBA Administrator. Raising awareness for small businesses so they are able to access capital with SBA financing is the goal for both women, respectively. Kurt expresses how important this is for making jumps in the industry. “What we have to make sure is that small businesses know about this program and that it’s something that they are aware of so that they ask their bank and other lenders about it,” he said. Also a priority, raising awareness by increasing education with lenders and brokers as well as simplifying the loan process in general for everyone.
Kurt and Bob cover it all. Check out the entire video and script here through Bob Coleman’s Coleman Report.