504 Program Crosses $30 Billion Mark

In March 2007, the cumulative issuance of debentures under the SBA 504 Program crossed the $30 billion mark. Since November 1986, 73,961 debentures totaling $30,219,626,000 were issued.

SBA 504 lending remains on the upswing and investor demand is strong. Signs are that debenture issuance will continue to increase at a reasonable pace.

During the rapid growth over the last few years, Development Company Funding Corporation and its underwriters worked to broaden and deepen the investor base for the debentures. With this larger investor base, it is well positioned for future growth in the program.

Jim Hiatt, Managing Director at Credit Suisse, put it well: “The consistently strong spread and credit performance of the bonds in a rapidly growing business is a testament to the dedication of all the parties involved in the success of the program. Everyone involved should take great pride in the success of the 504 Program.”

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