In collaboration with national nonprofits and local community banks, Morgan Stanley will enable more small businesses to utilize the US Small Business Administration’s (SBA) 504 Loan Program which focuses on providing the long-term capital small businesses need for commercial real estate investments and job creation and retention.
The initiative, called the Morgan Stanley SBA 504 Program will be available through Community Reinvestment Fund, USA (CRF), a nonprofit corporation, and CDC Direct Capital, a wholly owned subsidiary of CDC Small Business Finance, a certified development company that focuses on serving the financing needs of small businesses.
CRF and CDC Direct Capital will work with a national network of financial institutions to facilitate the purchase by Morgan Stanley of existing and new loans collateralized by first liens on commercial real estate originated as part of the SBA 504 Program.
Morgan Stanley CFO Ruth Porat said by extending financing for small businesses to invest and grow, Morgan Stanley is reaffirming its commitment to put our financial capabilities to work in the service of the economic development of communities.
