ANAHEIM, Calif.--(BUSINESS WIRE)--A dozen Orange County companies in first quarter 2014 received over $14 million in SBA small business loans from CDC Small Business Finance to purchase commercial and industrial buildings.
The SBA-504 loans, provided in partnership with local banks in January through March, will help the companies expand their operations and create and/or preserve over 500 local jobs.
CDC loan officers Mark Hogan, Sam Tuyen and several others combined to expedite these loans in partnership with the following financial institutions: East West Bank, Union Bank, Plaza Bank, Bank of America, Torrey Pines Bank, Bank of the West, JP Morgan Chase, California Bank & Trust and Wells Fargo Bank.
The funded companies operate in a variety of industries, including medical, wholesale, engineering, electrical contracting, construction and educational childcare.
Small business entrepreneurs grow with SBA-504 financing
The current SBA-504 loan rate is 5.18% fixed 20 years. This specialty loan helps small businesses finance long-term fixed assets such as commercial real estate and large equipment. Several Orange County businesses have taken advantage of the SBA 504 program to buy their own buildings, preserve cash and build owner equity.
CDC Small Business Finance is the nation’s leader in SBA-504 loans. CDC has helped more than 10,000 entrepreneurs move from leasing space to owning their own facilities. Small business owners can find out if they qualify for a SBA-504 loan by using CDC’s Prequalify Today tool. For more information, connect with CDC via www.cdcloans.com, on Twitter @CDC_Loans, and LinkedIn.
Note: Media interested in interviewing small business owners who have received SBA-504 loans to purchase a building can contact Larry Nuffer, lnuffer@cdcloans.com, 619.243.8620.