NADCO Executive Board Member Testifies Before Senate Small Business Committee, Touts SBA 504 Loan Program Job Creation

WASHINGTON, April 3, 2019 /PRNewswire/ -- This afternoon, Patricia "Patti" Kibbe, NADCO Board Secretary and Executive Committee Member as well as President & CEO of Evergreen Business Capital, testified before the United States Senate Small Business and Entrepreneurship Committee during a hearing titled, "Reauthorization of the SBA's Access to Capital Programs."

"It was a true honor to represent the 504 industry and Certified Development Companies (CDCs) nationwide in my testimony to the Senate Small Business and Entrepreneurship Committee this afternoon," said Kibbe. "I am proud of the economic development work and job creation CDCs facilitate in communities across the country and would like to thank Chairman Rubio and Ranking Member Cardin for extending me this invitation. It is an experience I will not soon forget."

In FY2018, the SBA approved nearly 6,000 504 loans totaling $4.8 billion. These loans created and retained more than 55,000 jobs nationwide.

During the hearing, Kibbe emphasized the SBA 504 Loan Program and its impact on jobs as an asset to the U.S. economy and offered her perspective on ideas for improving and streamlining the SBA lending process, which were also outlined in her written testimony.

She testified alongside William Manger, Associate Administrator of the Small Business Administration's Office of Capital Access, Robert Villarreal, Executive Vice President of CDC Small Business Finance, who was there representing the Community Advantage loan program, Julie Huston, President & CEO of immito, and Connie Evans, President & CEO of the Association for Enterprise Opportunity.

SOURCE National Association of Development Companies (NADCO)

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