- Small Business Owners– PCDfc is thankful for the hard work of small business owners, truly the backbone of the U.S economy. Currently, 27.8 million strong and continuously growing! Since 2007, we have has the privilege to help entrepreneurs obtain over $40 million financing so they can realize their dreams. They’re U.S based manufactures, restaurants, daycare providers, among other professionals.
- Lending partners- While small business borrowers can come directly to CDC to inquire about loans, most are referred to us by commercial bankers. Banks unable to extend credit to businesses often send clients to the CDC for potential funding because CDC has more flexible guidelines.
- The SBA– We appreciate the U.S. Small Business Administration for having the foresight and faith in small business owners to create strong, sustainable programs dedicated to improving access to capital, creating jobs and supporting economic development. Thanks to SBA loan guarantees, CDC and other nonprofit lenders are able to approve borrowers who’ve been turned down for traditional financing. To clarify, SBA does not make the loan directly to borrowers. Rather, they guarantee, or back, a portion of the lender’s loan. That means if the borrower defaults, the federal agency pays off the guaranteed portion of the loan balance.This arrangement is beneficial for several parties. CDC and other nonprofit lenders have more flexibility to approve a wider range of borrowers, which leads to more jobs created and economic development. The guarantee and CDC’s participation are appealing to bankers because their risk is mitigated. win-win.
- SBDC (Small Business Development Centers)- They free- or low-cost training and business advising to aspiring and early-stage entrepreneurs also deserve special recognition. Their dedication to educating and readying individuals for small business ownership leads to jobs, which bolsters economic development. While SBDCs do not provide financing, they do help entrepreneurs develop their financial strategies, from creating business plans to formulating projections. Once clients are deemed ready to pursue their business dreams, SBDCs often refer them to lenders such as PCDfc for financing. PDCfc can also refer potential clients to SBDCs for coaching to try to get them loan-ready.The impact and reach of SBDCs, partly supported by the SBA, is great. There are 1,000 locations throughout the nation.
- SCORE– An organization partially funded by the SBA made up of volunteers who impact their years if business experience to early-entrepreneurs. Assisting them with business plans as well as growth plans.
We thank and salute them as they navigate the ups and downs of supporting, owning, and operating small businesses.