Pub. 14 2017 Issue 2

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S Issue 2 • 2017 19 Capital CDC By Lorena Chavez, Sr. Business Development Officer – New Mexico Capital CDC When it comes to the success of a small business, one of the biggest hurdles is se- curing competitive financing terms tomake the necessary investments. Drawing from years of practical experience in the utili- zation of SBA products, we offer a unique blend of expertise to capture themost bene- fit for our customers. Capital CDC employs knowledgeable in- dustry experts to professionally assist com- mercial loan applicants and lending part- ners through the loan process. Because the SBA 504 is a very specialized loan program, it is theCDC’s responsibility todetermine el- igibility and credit worthiness and guide the process from inception to completion. Our teamof experienced Business Development Officers is here to educate both third party lending partners and borrowers on the 504 process. After receiving the application and completing the package, it is handed off to our Credit Department who underwrite the loan. Upon completion of the underwriting, the deal is submitted to Loan Committee via secure email. Loan Committee responds within 48 hours, and upon their approval, the package is submitted to SBA for final approval. Upon receiving an approval from SBA, the loan is then handed off to a Loan Closing Specialist who works very closely with the Third Party Lender and Borrower for a timely closing. Our credit, closing, marketing, and ad- ministrative groups are based out of Capital CDC’s headquarters in Austin, Texas. We have satellite offices in Albuquerque, Dal - las, Fort Worth, Houston, San Antonio, and Lubbock/West Texas where our loan offi - cers can assist lenders and customers local- ly. As well, Capital CDC is supported by an experienced Board of Directors and Loan Committee members comprised of lenders, economic development professionals, and small business experts in New Mexico and Texas. Capital CDC’s Lorena Chavez (Sr. Busi- ness Development Officer – New Mexico) and Jason Bigham (Business Development Officer –West Texas) cover the state of New Mexico to assist small business owners with their SBA financing needs. Carla Conticelli, a senior loan closer for Capital CDC resides in Rio Rancho and accompanies Lorena Chavez to initial meetings and loan closings to help ensure the process runs smoothly. Did you know that there are a total of 208 Certified Development Companies (CDCs) nationwide that provide SBA 504 financ - ing? CDCs are chartered by the Small Busi- ness Administration (SBA) to provide SBA loans in the state they office or an adjacent state. The procedures that each CDC must follow and adhere by are laid out in the SOP. What sets each CDC apart is the lev- el of customer service provided to both the lender and business owner, SBA product knowledge, and the expertise of the entire CDC team. Capital CDC currently ranks #16 out of the 208 active CDCs for loan approval vol- ume and #1 in our 6-state region comprised of Texas, NewMexico, Louisiana, Arkansas, and Oklahoma! For FY-2017 (September 2016 – Present), Capital CDC has already approved 65 loans for $56 million. Capital CDC supports organizations in- cluding WESST, a small business develop- ment and training organization commit- ted to growing New Mexico’s economy by cultivating entrepreneurship. Capital CDC has donated over $12,000 to help WESST grow the resources for small businesses in New Mexico. As well, Capital CDC offers the Community Advantage Program, assist- ing underserved markets, and the VetLoan Advantage, offering significant savings to Veterans with 49% or more ownership. n For more information, please visit our website at www.capitalcdc.com . F or over 24 years, Capital CDC has been a leading, non-profit provider of small business financing throughout Texas and NewMexico. Capital CDC has worked with hundreds of small businesses and partnered with multiple financial institutions to assist with financing of building acquisitions, construction projects, and machinery and equipment loans.