Texas Certified Development Company (TxCDC) was recognized as the 504 High Volume CDC in the state’s Lower Rio Grande Valley for 2012 by the Small Business Administration’s Lower Rio Grande Valley District. This honor was announced during the 19th Annual Mid America Lender’s Conference, held in August in Oklahoma City. TxCDC previous received this award in 2007 and 2008.
TxCDC has a history of being recognized for helping small business owners in other parts of Texas. The company was honored in 2012 as having the highest volume of 504 loans by a certified development company in Texas’ Coastal Bend region in 2012. TxCDC also received the top producing 504 lender award in the San Antonio area by the Small Business Association’s San Antonio District Office in 2008 and 2009.
The Austin-based certified development company continues to reach out to small businesses owners in the Lower Rio Grande Valley because that area of Texas continues to be underserved in receiving SBA 504 loans. “We have a staff that is familiar with the Lower Rio Grande Valley so they understand the unique challenges that these entrepreneurs face,” TxCDC President Suzanna Caballero said. “Additionally, many on our staff speak Spanish so they can help make the loan qualification process understandable for small business owners who prefer using Spanish.”
Companies such as Terra Firma Materials in Sullivan City have benefitted from this outreach and qualified for a low-fixed-rate SBA 504 loan. This family-owned company, which has been in operation since 2008, sells gravel, base and top-soil asphalt. In addition, the company works with its sister company, IOC Company, as a heavy civil contractor on projects ranging from small site developments to multimillion-dollar road/highway infrastructure. The sister companies have successfully completed 162 projects worth more than $73 million since 2006.
The SBA 504 loan will help the owners of this Hidalgo County company continue to grow the business. “The SBA 504 loan provided Terra Firma with funds to purchase and construct their own hot mix asphalt plant,” TxCDC Senior Vice President Oscar Martinez said. “This new plant will greatly enhance their continued growth, improve their profitability and make them more productive and efficient.”
TxCDC’s outreach efforts in the Lower Rio Grande Valley also assisted five other businesses located in Corpus Christi, McAllen and Pharr in qualifying for SBA 504 loans. One of those companies, Valley Die Castings, Inc. of McAllen, qualified for two SBA 504 loans. The first loan was for refinancing debt on its two buildings while the second will be used to purchase essential production equipment.
Small business owners in South Texas are benefitting from the individualized attention that TxCDC offers. “We know in a growing community like the Lower Rio Grande Valley the SBA 504 product helps business owners purchase their own business locations and preserve their working capital, thus giving them a great growth advantage,” Caballero said, “We want to be a part of helping them succeed and growing the Lower Rio Grande Valley economy.”