LOS ANGELES-CDC Small Business Finance, the nation's number one SBA-504 lender for small businesses, has secured $60 million in SBA financing in the past three months for small businesses in Los Angeles County. The loans will help the small businesses purchase commercial and industrial facilities, grow business and create jobs.

In total, CDC provided SBA-504 commercial real estate financing for 27 small businesses at a rate of 5.45%. The largest single loan was secured for $9.4 million. CDC partnered with Community Bank to secure the loan. CDC loan officers Dean Aloe, Armen Madatyan, Mark Hogan and Sam Tuyen secured all of the SBA-504 financing for the 27 small businesses.

SBA financing was designed to provide financing for long-term fixed assets, like commercial real estate. In a recent Lender Banking Report from the US Small Business Administration revealed BFC SBA Lending was the top SBA-504 lender in Los Angeles and 18 in the Western region. BFC provided $100 million in SBA-504 loans this year. BFC executive director Jacky Kim says, “The SBA 504 program is a powerful economic development loan product that offers businesses the opportunity to own their own buildings, while advancing business growth and job creation.” CDC applies these benefits to small business clients in Arizona, California and Nevada.