Comptroller of the Currency Hosts Teleseminar on
Small Business Administration 504 CDC Loans

 

WASHINGTON — The Office of the Comptroller of the Currency (OCC) will host a teleseminar for those interested in taking advantage of the Small Business Administration 504 Certified Development Company (CDC) Loan Program.

 

The seminar will be held from 2:00 to 3:30 p.m. (EST) on January 31, 2007.

 

Intended for bankers and CDC partners, the seminar, entitled “Small Businesses’ Window to Wall Street,” will help participants understand how the 504 program provides multiple financial, regulatory, and business development benefits to banks, CDCs, and small businesses.  The teleseminar will also identify risks and regulatory considerations associated with 504 loans, and will demonstrate how the 504 product enables banks and CDCs to promote economic development by providing affordable long-term financing to growing small businesses. 

 

“The 504 program is an attractive option for banks,” said John C. Dugan, Comptroller of the Currency.  “These loans can help banks retain and attract customers, assist in risk management, and earn fee and interest income.”

 

The seminar panelists include a senior banker, a CDC president, and an examiner from the OCC who will provide information and share their experiences with the 504 program.  The seminar will include a welcome from Comptroller of the Currency John C. Dugan.

 

"Last year the SBA made over $5 billion in loans through our 504 program," said SBA Administrator Steven C. Preston. "I am pleased that the OCC is making an effort to highlight this program with banks as a way to better serve the small business community."

 

For information or to register online, visit http://www.occ.gov/up_event.htm.  To register by phone, call (800) 775-7654 between the hours of 7 a.m. and 5 p.m. CST.  Download the brochure at http://www.occ.gov/SBA_Brochure_(1119).pdf.

 

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The Office of the Comptroller of the Currency was created by Congress to charter national banks, to oversee a nationwide system of banking institutions, and to assure that national banks are safe and sound, competitive and profitable, and capable of serving the banking needs of their customers in the best possible manner.  OCC press releases and other information are available at http://www.occ.gov.  To receive OCC press releases and issuances by email, subscribe at http://www.occ.gov/listserv.htm.