MSBF Officials received the Certified Business Development Company of the Year award from the SBA May 20. Receiving the award was (right) President Reuben Siverling and (third from right) Director Jim Hampton.
The U.S. Small Business Administration May 20 presented the Midwest Small Business Finance with the Certified Business Development Company of the Year.
The award is presented to only two of nearly 300 CDCs nationwide and was presented in Washington, D.C., during National Small Business Week, May 15-21. MSBF was honored as CDC of the Year among those with a portfolio up to $50 million.
Jim Hampton, director, said the honor was a welcome endorsement of MSBF’s effective efforts. “We focus on the basics,” he noted. “We assist banks and businesses to expand and create jobs. Ultimately, that helps the entire community.”
Criteria for the SBA recognition focuses on providing business access to long-term capital for job creation and retention, portfolio performance and efforts to reach underserved markets. Last year, MSBF efforts helped generate more than $18 million in development and created or retained nearly 300 jobs. Since its founding in 1982, the organization has helped create or retain nearly 3,000 jobs.
Linda Bailey, senior lender relations specialist at the SBA in Kansas City, said MSBF’s ability to meet SBA standards was a notable strength. “There were very few others that hit all of the benchmarks and none as well as MSBF,” she said. “Then, when you added the size of the portfolio, they were simply outstanding.”
MSBF 2011 President Reuben Siverling said another facet of the organization’s success is its flexibility. “We work hard to serve a very diverse market,” Siverling noted. “Our customers include companies in urban and suburban markets in areas like Kansas City, as well as smaller rural communities. We take pride in assisting a remarkably broad business environment.”
Hampton said MSBF success involves strong partnerships with the SBA, lenders and community leaders. “We work very closely with both our lending partners and businesses,” he added. “The SBA, our board and loan committee—all of them help this come together. It’s a significant effort.”
Based in Kansas City, North, MSBF serves banks and small businesses throughout Missouri. Programs include the SBA 504 and MSBF’s revolving loan funds. For more information, call (816) 468-8989 or visit www.simplymoreloans.com.