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 purchased 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.