The merger comes with the approval of both the Small Business Administration and the State of Texas. The merger will create an economy of scale beneficial to Texas small businesses in delivering the SBA 504 loan program.
According to CDCSW President/Managing Director Mike Mora, “The benefit of this merger is to combine the experience of the CDCSW staff with PeopleFund operational, administrative, and financial expertise and extensive geographic coverage.”
The SBA has already realigned both companies’ SBA 504 loans under PeopleFund. “Mike Mora and his team have over 80 combined years of SBA experience,” says PeopleFund President Gary Lindner. “We are so fortunate to have Mike’s leadership and his teams’ professional SBA 504 credentials that will help boost loan opportunities across the state”.
PeopleFund Board Chair Yolanda Davila is enthusiastic about the merger. “This combination is a win-win for small businesses in Texas,” she says. “The more collective opportunities for capital and community development, the better.”