CL 504, Inc., was recently honored by the U.S. Small Business Administration (SBA) with the 2007 “Asset Builders Award for the Most Active CDC” during the annual Western Pennsylvania Association of SBA Guaranteed Lenders (WPASGL) Small Business Lending Conference in Seven Springs, Pa. Named the “most active certified development company (CDC)” in Western Pennsylvania, CL 504 was recognized for its outstanding accomplishments in “504” lending for the third year in a row at an event attended by 300 lenders and resource partners across the Mid-Atlantic region. 504 lending—the SBA’s economic development program focused on job creation and development—is used by businesses for real estate or equipment acquisition and improvements. Consistently a top performer in regional 504 lending, CL 504 placed 11 loans in fiscal year (FY) 2006; 17 loans in FY 2005; and 13 loans in FY 2004 (CL 504’s inaugural year). “We are honored to receive the Asset Builders Award for the third year in a row,” said Mark Peterson, President, CL Fund. “Through the years, our 504 lending has put $8.4 million in funds from private investors to work for economic development in western Pennsylvania. This award reflects our strong commitment to rebuilding the economy of the region.” |
