October 10, 2022 (San Diego, CA) – CDC Small Business Finance, long considered one of the nation’s leading mission-driven lenders, has finished Fiscal Year 2022 as the foremost SBA 504 and Community Advantage lender in the United States.
“As always, we lead with our values and put our borrowers first. These results are proof that working in and with communities can put us on top. Every dollar we lend and every loan we make has a tangible impact on the life of a business owner pursuing their dream,” said Ellis Carr, president and CEO of CDC Small Business Finance and Capital Impact Partners, each part of the Momentus Capital branded family of organizations. “These are great achievements that speak to our dedication to our borrowers, the businesses they run, and the communities they serve.”
In the federal fiscal year running from October 2021 through September 2022, CDC Small Business Finance approved $592,271,000 in SBA 504 loans, which is $5.6 million more than the next SBA lender.
With 428 approved SBA 504 loans, this meant an average of more than $1.383 million per loan.
The SBA 504 commercial real estate loan is often the preferred financing product for small business owners looking to purchase real estate for their business. Entrepreneurs can obtain long-term, fixed-rate financing for a variety of projects. Whether a business owner is buying a warehouse to help expand their business or looking to shift from leasing to ownership, the 504 loan is a valuable option and smart addition to their business strategy.
During the same time period, CDC Small Business Finance approved $37,561,700 in Community Advantage loans, far surpassing all other lenders nationwide by nearly six times.
With 253 approved Community Advantage loans, this meant an average of more than $148,000 per loan.
The U.S. Small Business Administration’s Community Advantage loan program is a key tool that prioritizes access to capital for borrowers with low-to-moderate incomes.Community Advantage makes credit more accessible to promising small businesses who have not been able to obtain traditional financing.
CDC Small Business Finance also earned the top spot on the state level in California and Arizona, where it was #1 in the number of loans approved, combined, for 504 and Community Advantage loans, with 513 loans in California totaling $505,789,100 and 99 loans in Arizona totaling $95,034,500.
“These achievements are all the more impressive because our colleagues made them happen during a busy year of transition at Momentus,” said Mr. Carr. “This shows the SBA, the rest of the industry, and — most importantly — our borrowers that we remain committed to small businesses and the positive change they can drive.”
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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.
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 momentuscap.org.
