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We Lend Even When Banks Don’t

June 17, 2011 | Small Business Loans

As a mission driven, non-profit organization, CDC Small Business Finance offers a variety of products and services to meet the financing needs of small business owners who have not been able to secure a loan from the traditional banking institutions. We offer direct financing through several different loan programs, partnerships with banks, loan packaging, and expertise to evaluate the business owners need and place them in the program that will give them the highest chance of loan approval.

Our goal is to help viable business owners who have not been able to get financing from a bank secure the funding they need to start and grow their business. We think outside the box and want to give people a chance when the traditional system was not able to. Eventually we’ll help to transition our clients back into the banking system once they’ve grown their business to the point that they are strong enough for the banking system. Initially we’ll come up with a strategy to help them secure the financing they need through alternative sources.

As a direct lender we offer financing through the SBA Micro Loan Program as well as through two Community Development Financial Institutions. We also partner with banks to administer specific SBA loan programs, and offer loan packaging where we shop loans to various community banks that are willing to take more risk than some of the larger ones. Oftentimes, our clients are not familiar with the local community banks and come to us having been declined by several of the larger institutions. We have the relationships in the industry and knowledge of the market to know where to take each request that will result in the highest chance of loan approval. We have been able to find financing for many business owners who have had multiple declines by other lenders and have watched their business grow and prosper.

We also work with other local organizations to participate in the loan when one of our programs is not able to provide all the financing needs. There are a number of organizations, both private and government, that offer financing to business owners and loan guarantees to lenders that many entrepreneurs are not aware of. We work with these organizations to come up with creative strategies to make our borrower’s project work, including sharing some of the lending risk, combining programs to meet all the financing needs, and receiving guarantees from State programs to mitigate our risk.

Our goal is to help people who show strong potential to start and grow their business. We generally want to see outside income and/or collateral for start up or projection based loan requests. For existing business we want to see the historical capacity to service the requested debt based on past profits. For folks who meet these basic criteria, we encourage you to contact us for further information on how we can help you, through a creative strategy, meet your financing needs!

– Susan Lamping, Senior Community Loan Officer – slamping@cdcloans.com

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