RIVERSIDE, Calif.--(BUSINESS WIRE)--Inland Empire companies will soon receive over $21 million in SBA small business loans, based on financing approved in the last three months by CDC Small Business Finance.
The SBA-504 loans, provided in partnership with local banks, will help 11 small businesses expand and create new jobs. The largest single loan provided was $7.5 million. CDC loan officers Phil Mulder, Mark Hogan and Sam Tuyen expedited the loans.
The banks that partnered with CDC Small Business Finance on the SBA-504 loans included Bank of America, Cathay Bank, Bank of Southern California, Capital Bank, Rabobank, Security Bank of California and OneWest Bank.
The current SBA loan rate is 5.30% for this type of financing, which helps small businesses finance long-term fixed assets such as commercial real estate and large equipment. The Arizona businesses receiving the loans will be able to preserve cash for operations and build owner equity.
CDC Small Business Finance is the nation’s leader in SBA-504 loans. Small business owners can find out if they can qualify for a SBA-504 loan by using the company’s Prequalify Today tool.
For more information about SBA-504 financing, contact Phil Mulder at (800) 611-5170.
Note: Media interested in interviewing small business owners who have received SBA-504 loans to purchase a building can contact Larry Nuffer, 619.243.8620, firstname.lastname@example.org.