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Wojtowicz to Chair National Organization
Inside Indiana Business - May 22, 2009
Jean Wojtowicz has been elected to chair the National Association of Development Companies (NADCO) Board of Directors.
Wojtowicz is executive director of the Indiana Statewide Certified Development Corporation, one of 270 certified development companies in the U.S. that work with local banks to deliver business expansion loans from the U.S. Small Business Administration 504 loan program.
NADCO is the national trade association for the certified development companies. The Chair of the Board presides over meetings, oversees board actions and the general administration of NADCO.
Wojtowicz takes office as board chair at a crucial time: NADCO and the SBA are assuming responsibility for interpreting elements of the federal stimulus package that affect commercial lenders and borrowers.
"Congress recognizes that small businesses create 70 percent of new jobs," says Wojtowicz. "It provided more than $700 million to the SBA, which is applying more than $375 million for business expansion loans and reduced loan fees. NADCO is an important information source for commercial lenders and their customers as they use these new loan tools."
Congress created the SBA 504 program to help small businesses gain favorable financing terms and retain operating cash while expanding. Indiana Statewide CDC has helped created or save more than 26,000 jobs in Indiana with SBA 504 loans since 1983.
Wojtowicz was elected board chair at a NADCO meeting in San Diego.
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