In a move that will surely boost our mission to assist small businesses and help them grow—thus promoting economic prosperity—504 Capital Corporation has joined both the Virginia Banks Association and North Carolina Bankers Associations.
The Virginia Bankers Association (VBA) has served as the organized voice for the Commonwealth’s banking industry since 1893, providing solutions to aid in resolving differences, unifying efforts, and accomplishing objectives otherwise not achievable. Their mission is to enhance Virginia banking for the benefit of banks, their customers, and the communities. Their vision is to be recognized by both its members and its peers as the premier state bankers association in the country, a dominant trade association in Virginia, and the voice of unity for Virginia’s banking industry.
The North Carolina Bankers Association (NCBA) brings together all categories of banking institutions that best represent the interests of North Carolina’s rapidly changing development. Serving North Carolina’s banking industry since 1897, the NCBA is the professional trade organization providing advocacy, leadership, and support for its dynamic membership base. They actively promote the professional and educational development of its members and affiliate members, and hosts annual events, conferences, and professional development programming.
By joining both the Virginia and North Carolina Bankers Associations, 504 Capital Corporation will be connection to an incredibly large pool of banks that could potentially be interested in offering SBA 504 loans to small businesses through their portfolio of services. As a Certified Development Company (CDC) working with the U.S. Small Business Administration, we’ll be able to work with those banks to secure financing for individuals who want to start or develop small businesses, thus adding an infusion to the economies of both Virginia and North Carolina.
Since we’ll be providing our expertise and guiding small business developers through the process, this is an easy way for banks to be a part of the program without overburdening their internal processes, or needing to learn all of the ins and outs of a new product. It’s a complete win for Virginia, North Carolina, small business owners looking to make their mark, and for us. We’re looking forward to what the future holds.