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Some Federal agencies actually do produce
Topic Started: Feb 16 2012, 11:15 AM (123 Views)
Nobody's Sock
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Fulla-Carp
A letter from the president of the National Association of Development Companies with links at the bottom for the NADCO site as well as SBA's site for the 504 Loan program...........

"The 504 program crossed a very significant milestone with today’s debenture funding.

Our Fiscal Agent, Steve Van Order, funded the March 504 debenture sale that pushed total fundings past $50 BILLION.

Add to this sum the first mortgages from our bank and non-bank lending partners and our borrower equity injections, and we have now provided over $130 billion in fixed asset financing for America’s small businesses. This has led to over 2.5 million jobs either created or retained by 109,245 small business financing projects.

Need I say that no other Federal economic development program comes even close to this volume of small business financings?

Only through the “public-private” partnership with SBA and our bank lending partners and our two underwriters (Bank of America/Merrill Lynch and Credit Suisse) has this program been the success it is today. We should all be extremely proud of this milestone, as it highlights one of the truly great success stories of the last twenty-five years of SBA’s support for small businesses, and at an incredibly low cost to the taxpayer.

Our thanks go to you and every Federal and contract employee who has made this partnership work. In this day of using Federal staff as political punching bags, the 504 program clearly demonstrates that very good programs can be designed and operated by skilled civil servants that are highly motivated to serve the American public and improve our economy. Would that every Federal program worked so successfully! Regards,

Christopher L. Crawford
President & CEO
National Association of Development Companies"


http://www.nadco.org/i4a/pages/index.cfm?pageid=1

http://www.sba.gov/content/cdc504-loan-program





"Somewhere, something incredible is waiting to be known."
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