WASHINGTON, Dec. 10 — The House Small Business subcommittee on Investigations, Oversight and Regulations issued the following testimony by Wayne Williams, senior vice president and senior lending officer of the Business Finance Group, at a hearing entitled “Review of the SBA’s 504/CDC Loan Program”:
“Thank you for inviting me here today to provide my testimony regarding the SBA 504 Loan Program and the work that my colleagues and I do every day pursuing of our mission to provide entrepreneurs and small businesses with access to affordable, responsibly unwritten capital that in turn promotes local economic development through job creation.
“My name is Wayne Williams, and I am here on behalf of Business Finance Group, a non-profit certified development company headquartered in Fairfax, Virginia with offices in Maryland, West Virginia, and Washington, DC. I have been involved in the SBA 504 Loan Program since 1989. I began my career in commercial banking in 1987 and was initially a bank partner in the 504 program. I joined Business Finance Group in 1997, transitioning to the CDC side of the 504 loan program. I currently serve as Senior Vice President and Senior Lending Officer. Throughout my 32-year career, I have been active in management, marketing, loan structuring, and credit underwriting. As you heard from my bio, I also currently serve on the board of directors of the National Association of Development Companies (NADCO), the 504 industry’s national trade association, where I am on the Executive Committee and was the immediate past Vice Chair of Regulatory Affairs. I am also a national instructor for NADCO specializing in the statutes, regulations, and standard operating procedures that govern the SBA 504 Loan Program.
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