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Certified Development Company

Posted on July 9, 2013 by Taura Costidis

A nonprofit organization certified by the SBA to provide financing through the SBA 504 Loan Program. CDCs work with banks and other lenders to ensure loan documentation complies with 504 Loan regulations.

This entry was posted in Glossary by Taura Costidis. Bookmark the permalink.

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Small Business Loan is Most Recent Help for Gallup Family Business

Robert Slover leaned on the WESST Farmington Women’s Business Center for extensive one-on-one consultation sessions in the early days of his cell phone repair business. Cell Phone Doctor sells new and factory-refurbished phones, including iPhone, Samsung, LG, Motorola, and Android, and it services all brands of cell phones and tablets. The business also sells PlayStation and Xbox gaming systems and can network unlock phones. When the Gallup business was ready to expand, Stover turned to WESST again, this time for a small business loan.

Slover’s relationship with WESST initially focused on cash flow and financial planning. Soon after, Slover worked with consultant and trainer Holly Patterson to understand how to use digital marketing tools to improve his social media postings. Help with marketing strategies aimed at growing his target markets was next.

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