March 11, 2010

California SBA-504 Volume Up

The number of SBA-504 loans approved by all certified development companies in California in February increased 35% compared to January, according to CDC Small Business Finance, the nation's largest CDC.

Total SBA-504 loans approved by all CDCs totaled 144 in February, up from 104 in January and 93 in December. Total 504 debenture volume increased from $80.7 million to $102.7 million, January to February. Bank first-trust-deed volume climbed from $115.6 million to $135.9 million, January to February.

"These are definitely good signs that California is beginning to bounce back," said Kurt Chilcott, president of CDC Small Business Finance. "When the 504 secondary market program launches - hopefully next month - California banks that have been shut out of the 504 program will return."

In California, CDC Small Business Finance approved more than twice as many 504 loans (44 units, $35.5 million in debentures) in February as the #2 ranked CDC.

Larry Nuffer Director of Marketing Communications CDC Small Business Finance #1 CDC in the Nation 619.243.8620 www.cdcloans.com