CDC Small Business Finance Named “Community Advantage Lender of the Year” in Michigan by SBA

May 3, 2023 (Detroit, MI/San Diego, CA) – CDC Small Business Finance has earned two awards — “Community Advantage Lender of the Year” and “Top 10 Lender” — from the U.S. Small Business Administration’s (SBA) Michigan District Office.

Small business owners in Michigan received more than $1.6 million in Community Advantage loans from CDC Small Business Finance in the 2022 fiscal year, which ran from October 2021 through September 2022.

Community Advantage Loans Help Small Business Owners

The SBA’s Community Advantage program allows for loans of up to $350,000 for new and existing business owners with low-to-moderate incomes. This makes capital more accessible to promising small business owners who have not been able to obtain traditional financing.

“Thanks to Community Advantage loans, people are able to start their business, or they can scale or expand, when they might not have otherwise had that opportunity,” said Nimaj Driscoll, a Detroit-based loan officer who provides financing to borrowers throughout Michigan for CDC Small Business Finance. CDC Small Business Finance is part of the Momentus Capital branded family of organizations, which also includes Capital Impact Partners and Ventures Lending Technologies, among other organizations.

“We’re not only helping these people build wealth — they’re also creating more jobs and boosting the communities that their businesses serve,” Driscoll said.

Capital Impact Partners has worked in the City of Detroit for more than a decade. Capital Impact and CDC Small Business Finance came together in 2021 with a shared mission and vision.

The Momentus Capital branded family of organizations offers a continuum of financial, knowledge, and social capital.

“We listen to community leaders and other stakeholders and continue to look for ways we can be impactful both to the Detroit area — and to Michigan as a whole,” said Susan Lamping, Vice President of Sales for CDC Small Business Finance.

Helping Entrepreneurs Throughout Michigan Reach Their Goals

Among the small businesses that received Community Advantage loans from CDC Small Business Finance in Fiscal Year 2022 are:

An entrepreneur in Berkley who wanted to grow her in-home Pilates studio into a storefront location, but had been rejected by other lenders
An entrepreneur in Southfield who needed financing to fulfill a large purchase order for their health supplement products and ship them to 600 stores overseas, but had no collateral to qualify for traditional financing
An entrepreneur in Detroit who wanted to launch a business counseling center, but whose credit score did not qualify for traditional financing

“I want to hear their story and look for ways to help them reach their goals,” said Driscoll, who worked with all three of those entrepreneurs. “This is often the first time many of them have done this kind of financial transaction, and we want to make them feel comfortable. Our entire team at CDC Small Business Finance, including underwriters and loan processors, seeks to provide a very smooth process from start to finish.”

CDC Small Business’s products for small business owners include small business loans and commercial real estate loans.

Awards Won By the Momentus Capital Branded Family of Organizations

This is the latest recognition for the Momentus Capital branded family of organizations:

The NonProfit Times named Capital Impact Partners and CDC Small Business Finance as two of the best nonprofits to work for.
The Washington Business Journal honored Momentus Capital President and CEO Ellis Carr as the 2022 Nonprofit Leader of the Year.
Fast Company named Mr. Carr to that publication’s 14th annual list of the Most Creative People in Business.
Momentus Capital was nominated to the Washington Business Journal’s Inno on Fire awards for helping to fuel the region’s economy.
CDC Small Business Finance finished Fiscal Year 2022 as the foremost SBA 504 and Community Advantage lender in the United States.
Team members Ken Rosenthal and Stacey Sanchez received two top honors from Coleman Report as the leading banking publication’s SBA Business Development Officers of the Year.

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About CDC Small Business Finance

CDC Small Business Finance, part of the Momentus Capital Branded family of organizations, is transforming how capital and investments flow into communities to provide people with access to the capital and opportunities they deserve. As the nation’s leading mission-based small business lender, CDC Small Business Finance helps build strong communities and create generational wealth by deploying mission-driven financing and free business advising to the small businesses that are the backbone of their communities and the country.

CDC Small Business Finance delivers small business and commercial real estate loans paired with free technical assistance to bolster entrepreneurship, economic development, and job creation.

We offer numerous loan products, including the Small Business Administration (SBA) 504 commercial real estate loans, SBA Community Advantage loans, and SBA Microloans. In addition, we offer non-SBA products to provide alternative options for those unable to qualify for traditional financing. CDC Small Business Finance also offers free business advice to support potential borrowers in getting loan-ready and to help our current borrowers grow and expand their businesses.

Since 1978, CDC Small Business Finance has provided more than $21.3 billion in financing to 12,500 borrowers and helped create and preserve over 217,000 jobs.

The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital and Momentus Securities (an SEC-registered broker-dealer, a MSRB-registered municipal advisor, a FINRA-approved Municipal Securities Broker Dealer, and a FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products

With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Georgia, Michigan, Nevada, New York, Texas, and the Washington D.C. metro area.

Learn more at cdcloans.com and momentuscap.org.

About Momentus Capital

The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital, and Momentus Securities (an SEC-registered broker-dealer, a MSRB-registered municipal advisor, a FINRA-approved Municipal Securities Broker Dealer, and a FINRA/SIPC member). While each organization under the Momentus Capital brand still operates as a separate entity, its clients now have access to more resources and products.

The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems by offering a continuum of financial, knowledge, and social capital to help entrepreneurs, community-based organizations, and local leaders at every growth stage to build strong communities and create generational wealth.

This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology solutions that advance locally-led solutions.

Leveraging more than 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, the Momentus Capital branded family of organizations has delivered $24 billion in financing, created and preserved 298,000 jobs, and served 14,350 small businesses and 6 million people across our history.

Learn more at momentuscap.org.