FOR IMMEDIATE
RELEASE  

CDC Small Business Finance Awarded SBA Microloan Program in San Diego County

SAN DIEGO, (February 23, 2001)-CDC Small Business Finance was notified that it had been approved by the federal government as an intermediary lender for SBA Microloan Program.  The approval came following an eighteen-month process of gathering information and data to support CDC’s qualifications.  This is the official notice to inform San Diego to look forward to this program in early June of this year.

The Microloan Program offers funding to non-profit organizations, with proven experience in microenterprise development, for the express purpose of providing small loans and integrated business based technical assistance to newly established, or growing small business concerns.

Organizations selected as intermediary lenders shall assist women, low income, and minority entrepreneurs, business owners, and other individuals possessing the capability to operate successful business concerns including those in areas suffering from a lack of credit due to economic downturn.  Intermediary lenders are required to offer, as an integral part of the lending process, business based technical assistance to entrepreneurs and small business owners obtaining, or attempting to obtain, funding under the Program.

The maximum loan amount under this program is $35,000.  In certain circumstances the loan can be a participant in a larger loan to a qualified borrower.

For more information contact CDC Small Business Finance or the local SBA district office.

Media Contact

Members of the media may contact a Public Relations representative or direct general news questions to 800.611.5170 or send an e-mail to cdcmedia@cdcloans.com

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