January 17, 2003

CDC Small Business Finance has been Growing Small Businesses for 25 Years

CDC Small Business Finance is marking its 25th year of assisting small businesses to grow and create jobs by providing a range of lending programs and services in San Diego, Orange, Riverside and Imperial Counties.

“As one of the leading small business lenders in the nation, CDC Small Business Finance is dedicated to its mission of  economic development through new jobs and investment in our communities,” said CDC Small Business Finance President and CEO Kurt Chilcott. “Over the last 25 years, CDC Small Business Finance has assisted thousands of small businesses to create 50,000 jobs in Southern California by providing access to growth capital.”

CDC was founded in 1978 with a mission of economic development, urban revitalization and opportunity for woman- and minority-owned businesses. That commitment has been maintained throughout the company’s history, and resonates strongly today as the company has grown is size and in product offerings. CDC now operates six other small business lending programs including the first Multibank CDC in California - San Diego Bankers’ Small Business CDC - and one of 11 state-chartered Financial Development Corporations in Orange County.

The CDC’s success is in large part due to the Small Business Administration 504 loan program that provides long-term fixed rate financing to small businesses for land, buildings and machinery and equipment. The company was one of the first Certified Development Companies licensed by the SBA in 1981. This license allowed CDC to deliver the SBA 503, now 504, program to stimulate small businesses, create jobs and encourage investment in the community.

In a congratulatory statement, Small Business Administration Administrator Hector Baretto stated, “CDC Small Business Finance had yet another record-breaking year, maintaining its status as the number-one SBA 504 lender in the nation. One of SBA’s primary responsibilities is to create an environment where entrepreneurs unable to find business credit elsewhere, are able to do so with the assistance of our lending partners. This CDC is an excellent example of how this public-private partnership benefits everyone in the community.”

For more information on CDC Small Business Finance call 800.611.5170 or visit www.cdcloans.com.

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