by Marie Browning
The U.S. Small Business Administration (SBA) presented its annual Pinnacle Award to Greater Texas Capital Corporation (GTCC) for being the top rated Certified Development Corporation (CDC) for 504 lending in the Dallas-Fort Worth District. This recognition follows $58.8 million in loans secured by GTCC for 65 small businesses in Texas. Fifty-one of those loans valued at $40.4 million were given in North Texas.
GTCC collaborates with small community banks, regional and national banking organizations to provide financial aid to small businesses in the manufacturing, retail, and service industries. They aim to provide property and equipment financing solutions to start-ups, as well as existing and expanding businesses.
Greg Dunn, GTCC director of sales and marketing, said “GTCC is grateful that many banking partners entrust them with their SBA 504 loan needs.” He added, “Because we can offer a lower down payment and long-term fixed rate options that banks can’t, the SBA 504 loan program is one of the best options for small businesses looking to finance their commercial real estate and long-term fixed assets.”
The SBA 504 lending program benefits both the borrower and the lender. With it, borrowers can use the loan proceeds to finance their acquisition of major fixed assets needed for construction, expansion, renovation, or whatever is needed for their businesses while the participating bank partner can offer 20-year fixed rate financing up to 40% of the financing request.
About Greater Texas Capital Corporation
Greater Texas Capital Corporation is one of the country’s fastest growing Certified Development Corporations that provides below market 20 year fixed rate financing for eligible commercial real estate projects. They partner with SBA and other business lenders to provide loans to small businesses. To know more about GTCC, visit their website at www.getcdc.org.