Providing $150 million in financing to 71 small businesses in San Diego County earned CDC Small Business Finance honors as the Top SBA-504 loan producer for 2013. The award was presented to CDC March 13 at a lenders event hosted by the SBA’s San Diego District Office.
The event featured comments from SBA Region IX Administrator Donna Davis who said SBA lenders are seeing an increase in the number of credit worthy small businesses seeking financing and asking for higher loan amounts. CDC’s Chief Credit Officer Mike Owen said he is looking forward to new legislation that will allow small businesses to once again use the SBA-504 program to refinance commercial property debt.
Notable San Diego small businesses that received SBA-504 funding last year from CDC included Radisson Hotel, Ballast Point Brewing Company, Hoist Fitness Systems, Steico Industries, America’s Finest Carpet Company.