CDC Small Business Finance Corp Names Union Bank of California Top 1999 Lender.Business Editors CARLSBAD, Calif.--(BUSINESS WIRE)--Jan. 27, 2000 CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation Small Business Finance Corp named Union Bank of California Union Bank of California is one of the 30 largest commercial banks in the United States. It has 327 branches, the majority of which are in San Diego, Los Angeles and Orange Counties. as its 1999 leading lending partner for the San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Small Business Administration (SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government ) district. The award, presented Wednesday at the first annual CDC Luncheon, was presented to Union Bank based on its participation in the SBA 504 loan Purpose The Small Business Administration (SBA) 504 loan program was created to help small to mid-sized business owners acquire commercial property without the financial hassles. program. Union Bank partnered with CDC in 1999 to approve thirty-one 504 loans for projects totaling nearly $50 million in the two county area of San Diego and Imperial counties. The 504 loan program was begun in 1980 as an economic development tool, providing funds for expanding businesses that are providing benefits to their communities, such as job creation, expansion of tax base, and expansion of personal income. CDC Small Business Finance Corp, a non-profit organization, was founded in 1978 to serve the financing needs of small business owners in San Diego, Orange, Riverside, and Imperial counties. CDC is the largest of nearly 300 certified development companies nationwide working with the SBA to offer financing to small businesses. For more information about CDC or the 1999 lending awards, contact CDC at 619/291-3594. |
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