For 23 years, I worked for a large national bank and had no plan to leave. I had a wonderful career, worked for the best leader, and had an overall happy work-life balance. When the pandemic hit, I was like the rest of the country — navigating working from home — and could not predict that my life was about — to take a new turn.
In January 2021, I found myself beginning a new journey at Capital CDC in the world of SBA 504 lending. Previously, Lorena Chavez was my SBA contact at Capital CDC for over 20 years. And now, with her approaching retirement, I was jumping in to take on that role. Who could predict that this change for me also came in a year that was unprecedented in SBA lending? What timing!
For those of you unfamiliar with Capital CDC, we are a nonprofit provider of small business financing and have been in business since 1993. We partner with banks, credit unions, and non-bank lenders to provide SBA 504 financing.
For those of you unfamiliar with Capital CDC, we are a nonprofit provider of small business financing and have been in business since 1993. We partner with banks, credit unions, and non-bank lenders to provide SBA 504 financing. Capital CDC operates statewide in New Mexico, Texas, and Arkansas and has an effective team to assist small-business owners in financing owner-occupied real estate and heavy machinery/equipment purchases.
As a banker, I was taught that “the SBA 504 makes a good deal a great deal” because of the low rates and long amortization. While working at the large bank, I must confess that I had a phenomenal SBA expert just an elevator ride away. Once I handed off my prospective client to this in-house expert, my SBA 504 touch was complete.
It wasn’t until I started working at Capital CDC that I began to learn and understand the ins and outs of the program. Before entering retirement, Lorena Chavez and I spent a couple of weeks together training and going on calls to soak up as much knowledge from her as I could. Eleven months down the road, I can say that I have learned so much. This learning has come from the National Association of Development Companies (NADCO) training, my Capital CDC team members, and some good old-fashioned mistakes. Many of my lessons have also come from lenders throughout
the state of New Mexico, and for that,
I am grateful.
Not only have I learned about the programs we offer, but I’ve also learned more about Capital CDC’s role in contributing to local economic development. One of the most important aspects that attracted me to Capital CDC is its focus on our community. Capital CDC contributes to nonprofits in the state such as WESST, The Hispano Chamber of Commerce, Albuquerque Economic and Development, and the Sandoval Economic Association, to name a few.
As a New Mexico native whose family has gone back over 10 generations, it is important for me to work for a company that supports my passion for our state. I know and understand the beauty and uniqueness of our state. I also know that we are naturally exceedingly kind, open folks, and the kindness I have experienced this year from all of you has been a highlight of my working life.
I look forward to partnering with you in FY-2022.
For more information, please visit us online at www.capitalcdc.com.
Capital CDC had an exceptional year in New Mexico in FY-2021 (Oct. 1, 2020, to Sept. 30, 2021) with 30 SBA 504 Loans Approved for $10.7 million in SBA dollars approved. We partnered with 13 lending institutions, ranked #1 in our Five-State Region as the Top 504 Volume Lender, and ranked #13 out of 199 CDCs nationwide for SBA 504 Loan Approval Volume.
