Catherine Riddle, CFO of CDC Small Business Finance, has been appointed vice chair of the National Association of Development Companies, or NADCO.
NADCO is a national advocacy group of nonprofit lenders focused on job creation, economic development, and increasing access to capital for small businesses. The organization represents certified development companies, or CDCs, and others who issue financing to entrepreneurs through the SBA’s 504 real estate loan program.
Riddle, who has been part of NADCO since 2003, will serve a one-year term as vice chair.
“NADCO gives us a voice in the aggregate,” Riddle said. “Instead of just one CDC, we can talk about loan products and programs from 260 CDCs, which provides us leverage.”
In her role as vice chair, she wants to focus on reducing the regulatory burden in the SBA 504 program and keeping it relevant in today’s market, where consumers are expecting faster access to financing.
CDC Small Business Finance, a small business lender and nonprofit, has participated and had a voice in NADCO since its beginning in 1981 — allowing CDC to expand its advocacy for small businesses, one of the pillars of its mission.
Small business owners can use an SBA 504 loan to buy, build or renovate commercial real estate. The program offers financing of up to $20 million with competitive terms — and requires as little as 10 percent down.
