AmPac Tri-State CDC, Inc. A Partner in Financing & Fostering
The Success of Growing Pains
AmPac Tri-State CDC Inc. is a certified lender for the U.S. Small Business Administration specializing in financing fixed assets for California’s businesses through the SBA’s 504 real estate loan program. This program provides low down payment, as low as 10%, for the purchase of commercial real estate, to facilitate businesses owning versus leasing their real estate and/or to making critical capital improvements or purchases that promote business growth and job creation. The program requires that a business owner occupy 51 percent of the purchased building, but they may lease up 49% for rental income or to support a non-profit. The SBA 504 loan includes three participants – the borrower, the bank, and the SBA lending partner. As noted, the borrower’s down payment is as low as 10%; the bank funds 50% or more of the loan, and the SBA funds up to 40% of the loan. The SBA seeks to ensure that businesses can plan their costs over time, thus the interest rate for the SBA portion of the loan is fixed for 20 years and amortized over 20 years to make certain that mortgage payments are affordable for growing businesses.
Since its certification as an SBA lender in 2007, AmPac has financed over 135 businesses with loans totaling greater than $200 Million and they have created greater than 1500 new jobs in the State of California as a result of the financing.
AmPac partners with local governments and State initiatives to manage and administer micro loan programs to encourage entrepreneurship and provide low cost capital that businesses may not otherwise have access to. Today, AmPac partners with the City of Riverside and the Town of Apple Valley for a community centered loan program.
As the nation’s first faith based SBA lender, AmPac leads SBA in connecting Faith & Business through its Annual Connecting Faith & Business Conference in its 9th year in the Inland Empire and 4th year in Los Angeles. Through these conferences, business owners who have faith as their center and faith basedleaders in the region come together for a day of learning with speakers and workshops that promote business and non-profit success.
AmPac’s mission is to finance and foster the success of businesses at all stages of growth to promote economic development and job creation that positively impacts the region, the state and the nation.
For more information on AmPac Tri-State CDC, Inc. or to learn more about how AmPac can serve you in financing and fostering the success of your growing business, call 909-915-1706 or visit the website at www.ampac.com.