Jesse Trevino, a Texas Certified Development Company (TxCDC) representative and a stalwart educational leader in the Rio Grande Valley, was named the 2013 recipient of the prestigious Golden Eagle Award by the Rio Grande Valley Hispanic Chamber of Commerce’s Board of Directors. The award recognizes Trevino’s commitment to education and service to the community.Read More
FOR IMMEDIATE RELEASE TxCDC Press Release – June 26th, 2013 PlainsCapital Bank Vice President for SBA Lending Colleen Rowland has been named the recipient of the 2013 Financial Services Champion of the Year by the Small Business Administration’s San Antonio District Office. The award was announced in April 2013. “Colleen’s commitment to helping small businesses grow and prosper underscores everything she does on a daily basis,” said Texas Certified Development Company President Suzanna Caballero, who nominated Rowland for the award. “She has been instrumental in making sure that loans are available to qualified businesses and searches for ways to spread the word that SBA loans are available to support Texas small business owners.” Rowland has a unique background, which includes experience in small business, certified development companies and bank lending departments. Her grandparents and parents ran small businesses, which helped Rowland develop an appreciation for the challenges that entrepreneurs face. A second component of Rowland’s background includes the establishment of a certified development company in 1990. At that time, she was tasked with founding and operating Capital Certified Development Corporation through the Texas Department of Commerce. This CDC was created to give all small businesses in Texas – especially those […]Read More
Grant supports technology enhancements for PeopleFund client training and educationRead More
Texas Certified Development Company has been named a recipient of Austin Business Journal’s 2013 Healthiest Employer Award.Read More
Washington, D.C. – Jan. 2, 2013 — The U.S. House of Representatives last night voted 257-167 to approve legislation aimed at avoiding the so-called fiscal cliff that also includes a number of key tax extender provisions. The bill, H.R. 8, the American Taxpayer Relief Act of 2012 had been approved by the Senate by a vote of 89-8 earlier in the day.
H.R. 8 extends the New Markets Tax Credit (NMTC) for two years, providing a maximum annual amount of qualified equity investments of $3.5 billion each year. The bill also extends the 9-percent low-income housing tax credit (LIHTC) floor for LIHTC allocations made before Jan. 1, 2014. H.R. 8 also includes one-year extensions of 50-percent bonus depreciation and the wind production tax credit (PTC).Read More
Market research shows that a large percentage of commercial mortgages outstanding are set to mature within the next few years, particularly those held by community banks. As real estate values have declined, however, even small businesses that are performing well and making their payments on time can have a hard time refinancing these loans and may need to restructure their debt. Under the Small Business Jobs Act, the SBA will implement a temporary program—authorized until Sept. 27, 2012—allowing small businesses to refinance eligible fixed assets in its 504 program without requirement of an expansion, as is the case with typical 504 loans. This program will provide small businesses the opportunity to lock in long-term, stable financing, as well as protect jobs. Key Program Features SBA will launch this temporary program on Feb. 17, 2011 and will begin accepting loan applications on Feb. 28, 2011. The program will end on September 27, 2012. Borrowers can finance up to 90 percent of the current appraised property value, or 100 percent of the outstanding principal, whichever is lower, plus 504 eligible refinancing costs. SBA will initially open the program only to businesses with immediate need. Priority will be on those businesses potentially at […]Read More
Agency will begin accepting refinancing applications Feb. 28 for small businesses facing maturing mortgages, balloon payments WASHINGTON, D.C. – Small businesses facing maturity of commercial mortgages or balloon payments before Dec. 31, 2012, may be able to refinance their mortgage debt with a 504 loan from the U.S. Small Business Administration under a new, temporary program announced today. The new refinancing loan is structured like SBA’s traditional 504, with borrowers committing at least 10 percent equity and working with third-party lending institutions and SBA-approved Certified Development Companies in the standard 50 percent/40 percent split. A key feature of the new program is that it does not require an expansion of the business in order to qualify. SBA will begin accepting refinancing applications on Feb. 28. The program, authorized under the Small Business Jobs Act, will be in effect through Sept. 27, 2012. “The economic downturn of recent years and the declining value of real estate have had a significant, negative impact on many small businesses with mortgages maturing within the next few years,” said SBA Administrator Karen Mills. “As a result, even small businesses that are performing well and making their payments on time could face foreclosure because of the […]Read More