FOR SALE: 900 Michigan Avenue
Community Capital Development Corporation (CCDC) is turning the way it does business upside down. CCDC is putting 900 Michigan Avenue on the market. Here is why.
Late last year, CCDC made the decision to change how it manages its’ technology to do business. With the advances in “Cloud Based Computing” staff can work from anywhere, any time. This allows for flexibility in who CCDC hires and from where they work.
In doing the strategic analysis of how CCDC does business, it became apparent that loan officers go to the customer at their place of business, and loan closings too are done at the customer’s office so the need for a “closing room” is rarely needed. Increasingly files are being stored electronically so the need for storage of hard copies is decreasing. And loan servicing is increasingly being handled from web based services. This will continue as CCDC puts in place it’s plans to digitize all its documents. And staff are finding that they can get more accomplished in the quiet of their own home offices without the distractions from being in an office environment. With the way business is being done today and the way it will be done in the future it didn’t make sense, financially and logistically, to maintain a 7,500 square foot “brick and mortar” facility for nine staff people who live and work in different parts of Ohio. So the Board decided to put the building up for sale and to move to a more flexible and appropriate space that would allow for periods of staff interaction and that could act as a home base for work out in the field.
Ten years ago who could have imagined how technology was going to change our world and the way business is done. Just imagine ten years from now...
Click here for more information about the building at 900 Michigan Avenue.
Cathy Garland, President/CEO
CCDC Announces VETLOAN ADVANTAGE
CCDC is rolling out a new program to assist veteran-owned businesses using the SBA 504 Loan Program to save money. The 504 VETLOAN ADVANTAGE – Cash Back Rebate Program will rebate the $500 application fee that the borrowers pay at the beginning of the loan process when CCDC closes the loan.
“This is a great way of giving back to our veterans who have given this country so much. It will also help offset some of the borrower’s costs at the time of closing. We are excited to be the first CDC in Ohio to offer this type of program”, says Cathy Garland.
The US Small Business Administration (SBA) 504 Loan Program provides up to 90% financing for owner occupied commercial/industrial real estate. In addition to a low down payment, typically 10%, borrowers can take advantage of attractive long term fixed rates.
A qualified small business must occupy 51% or more of the commercial/industrial real estate, must be for profit, and have sufficient operating cash flow to service the debt. The SBA 504 Program is a highly successful loan program that has assisted thousands of growing companies over the last thirty year to purchase property and equipment and to position themselves for long term growth while preserving precious working capital. (6/12/2013)
Steve Jacobs Hired as New VicePresident/BDO
Cathy Garland, the new President/CEO of Community Capital Development Corporation (CCDC) has hired Steven Jacobs to be Vice President/Business Development Officer beginning June 3, 2013. He will be responsible for identifying and developing new business opportunities and expanding CCDCs marketing effort in all parts of Ohio. He will work with CCDC’s other loan officers to maintain credit quality and to make sure CCDC delivers superior service to our lending partners, our borrowers, and the agencies CCDC serves.
Jacobs brings a wealth of experience to CCDC having most recently been the President/CEO of Access Business Development & Finance, a SBA Certified Development Company in Southwest Ohio. He has extensive experience in credit analysis, packaging, closing, and servicing SBA loans and other loan products. He is also a Certified Business Advisor, and has many years of effectively presenting the complexity of government loan programs to a wide variety of audiences including Chamber’s of Commerce, Small Business Development Centers, and other public forums.
Scott MacDonald, CCDCs Chairman of the Board, had this to say about CCDCs newest team member, "We are excited to have Steve as a part of the CCDC family. His knowledge of the industry and the SBA 504 Program in particular will fit nicely with our other staff, giving CCDC one of the most experienced and seasoned teams in the industry. We look forward to expanding our opportunities throughout Ohio and to providing the best customer experience in the industry.” (6/1/2013)
CCDC Names Cathy Garland as the New President/CEO
On April 5, 2013 The Board of Directors Community Capital Development Corporation named Cathy Garland as the new President/CEO filling the position of Brad Shimp who is retiring April 30th after 20 years at CCDC. Shimp announced to the Board last year that he would be leaving in April of 2013 to pursue other interests. (see below) Cathy assumed the position as of May 1st.
Cathy has been with CCDC since October of 1996 and has been Vice President for the past 12 years. Cathy brings a wealth of knowledge to her new position as CCDCs second in command and loan closing officer. She has closed over $150 in SBA and State loans, handled Human Resource duties, and assisted with budgets, employee evaluations and hiring. Previously Cathy was the Closing Officer for Commonwealth/ Central City Title Agency, a division of Vorys, Sater, Seymour & Pease.
"We are pleased that Cathy will fill this role and take CCDC into the future. Her knowledge of the industry and the organization will assure that the transition to new leadership will be smooth and seamless. Her experience will give CCDC the leadership to expand and grow." Cathy is only the fourth person to lead CCDC since it's founding in 1981. Bob Millikin was the first director, followed by Mark Barbash, and then Brad Shimp. (6/12/2013)
A Message from Brad Shimp, President/CEO
I want to share some news with all of you. Early in 2012 I told our Board that I would be leaving CCDC around the time of my 62nd birthday. I chose that date as it marked my 20th year at CCDC and I felt that it would be a good time to do something different, to stretch, to explore and to figure out what I want to do when I grow up. Well, that time is arriving in about four months and it is time to help support a smooth transition to new leadership.
This is bittersweet for me. I have absolutely enjoyed my 20 years at CCDC. I’ve learned a lot, helped guide CCDC through tremendous changes in the industry, had the opportunity to work with incredibly talented colleagues, and, admittedly, made a few mistakes. I’ve made friends that I hope will last a lifetime and I hope I have helped some people and businesses along the way.
I don’t see this so much as an end but a new beginning for myself and for CCDC. I am only the third director since 1981 and with each new director there have been changes. That is always good. A lot has changed in CCDC’s 32 year history but through everything CCDC remains a preeminent economic development force in Ohio. I am proud to have been a small part of that history and am thankful for the outstanding leadership and opportunity the CCDC Board has given me, as well as, the support and guidance provided by volunteers in the business and banking community to carry out our economic development mission.
Over the next few months I will be assisting the Board and staff transition to a new President and will continue to support the new leadership in whatever way I can. Thank you for all of your support and friendship through the years. I look forward to talking with you soon. (1/2013)
CCDC Names Columbus First Bank Bank of the Year at FY 2012 Annual Meeting
The Board of Directors and Members of CCDC met on February 8, 2013 CCDC's Annual meeting. At the end of the meeting CCDC honored Columbus First Bank with the Bank of the Year Award for their outstanding support of CCDC and for bringing the largest dollar volume of projects. In addition Tim Norris, Vice President, Columbus First was recoginized as Lender of the Year. Tim brought in the hightest number of projects and has been an active member of the Columbus Loan Review Committee. Tim accepted both awards at the Annual meeting. CCDC wants to thank Columbus First and the 26 other banks that we partnered with in FY 2012. (2/22/2013)
Five New Board Members Added to the Board of Directors at CCDC Annual Meeting
In addition to the current Board of Directors, the membership elected five new members. They include Gordon Gough, Executive Vice President of The Council of Retail Mercahnts; Mary Ann Potter Lewis, Vice President at First Bexley Bank; Rose Roman, Vice President at Commmerc National Bank; Curtiss Williams, Acting Director at the Central Ohio Community Improvment Corporatio;, and Nicole Workman, Vorys, Sater, Seymour, & Pease. (2/22/2013)
Scott MacDonald Elected New Chairman of the Board of Directors
The Board of Directors elected Scott MacDonald, Champaign Bank, as the new Chairman of the Board of CCDC. Scott replaces Jerry Whittington who served a successful and productive three years as the Chair. Jerry will continue to serve on the Executive Committee as the Immediate Past Chair. CCDC thanks Jerry for his service and looks forward to Scott's leadership in the coming year.
In addition to Scott, Patrick Henthorne was elected first Vice Chair, Fil Line as Second Vice Chair, Jack Beeler as Secretary, Tom Markworth as Assistant Secretary, George McCloy as Treasurer, and Ken Barton as Assistant Treasurer. (2/22/20130
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