Minority small business owners get $60 million boost

September 21, 2015 | Commercial Real Estate Loans

Sixty small business owners – intent on growing their companies – received more than $60 million in Small Business Administration (SBA) loans in FY2015 from CDC Small Business Finance.

All the entrepreneurs that received financing purchasedMinority-owned small business get $60 million in financing their own buildings using the SBA-504 loan program, which enables small businesses to buy or commercial real estate with only a 10 percent down-payment.

“SBA financing is a catalyst for job creation and helps small business owners realize their dreams through expansion,” said Kurt Chilcott, president/CEO of CDC Small Business Finance.

Nearly 1,000 jobs will be created and preserved as a result of the expansion plans of these 60 small businesses, located throughout California and Arizona. Over a third of the loans that CDC provides go to minority-owned small businesses. For a snapshot of CDC’s comprehensive impact with minority-owned companies, click on Minority Impact Report.

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