One of the top SBA lenders in Greater Cincinnati just surpassed a major milestone in the world of small business finance. During its Annual Meeting and Business Development Awards Ceremony on Wednesday, January 15, 2014, the Hamilton County Development Company (HCDC) will celebrate surpassing $1 Billion dollars in SBA approved projects that helped grow small businesses, add jobs, and contribute to the revitalization of local communities.
Since opening its doors in 1983, the SBA has approved nearly 1,200 HCDC business loan projects. HCDC specializes in the SBA 504 loan: a fixed interest rate, long-term loan that requires less money down to help businesses retain more cash on hand. Complying with the economic development requirement tied to each SBA 504 Loan, businesses utilizing this financial tool have created nearly 10,000 jobs, averaging eight (8) new jobs per loan project.
“With every loan, we help small and mid-size business grow and create jobs that drive our local economy,” said David K. Main, President and CEO of HCDC. “We have been able to help so many businesses obtain access to long-term, fixed-rate financing because the strong relationships we’ve forged with our banking partners throughout the tri-state. The SBA 504 loan program is a win-win for all of us…the small business, the bank, and the community. And HCDC is proud to have played a small roll in all of this.”
Along with celebrating the $1billion milestone, HCDC will honor its award winners for Lending Advocate of the Year and Lender of the Year during its Annual Meeting at noon on January 15, 2013 at Cooper Creek Event Center, in Blue Ash, Ohio. HCDC honors those individuals and companies whose efforts have contributed to local business development.
The SBA 504 loan program partners a Certified Development Company (HCDC) with a traditional bank or credit union to jointly offer 90% of the financing, so the borrower needs only 10% down. The SBA 504 loan program is often referred to as the best kept secret in small business financing. Many well-known businesses have used the SBA 504 Loan to grow, such as Primavista, KOST, Listermann Brewery, and Denny McKeowns Landscape and Bloomin Garden Centre.
In FY 2013, HCDC was named the top SBA Lender in both Northern Kentucky and Hamilton County, Ohio. HCDC’s Business Loan Programs serve companies that are located in the State of Ohio, Commonwealth of Kentucky and Southeastern Indiana.
For more information, contact Bridget Doherty at firstname.lastname@example.org.