NADCO Praises SBA Capital Access Appointment

Washington, DC—The National Association of Development Companies (NADCO) praised the appointment of Ann Marie Mehlum as Associate Administrator of the Office of Capital Access at the U.S. Small Business Administration. Mehlum, a longtime community banker, is founder and Director of Summit Bank, a Eugene, Oregon community bank providing services for small- to medium-sized businesses and professionals.

“As a longtime community banker, Ann Marie Mehlum will bring the leadership and experience the nation’s small businesses need at the SBA,” said National Association of Development Companies President & CEO Beth Solomon. “At a time when capital access continues to be a challenge for small businesses, Ms. Mehlum’s understanding of the obstacles first-hand will be invaluable in our continuing joint efforts to expand credit to America’s job creators.”

As a member of the FDIC’s Community Bank Advisory Council appointed by Chairman Martin Gruenberg, Mehlum has also had experience in financial regulatory affairs. She will replace Associate Administrator Jeanne Hulit, who also served as Region I Administrator.

“Administrator Karen Mills has done a superb job bringing top talent to the SBA, and Jeanne Hulit is Example #1,” Solomon said. “Jeanne’s steadfast leadership in reducing red tape, increasing agency effectiveness and expanding capital flow to small business has been unprecedented. While she will be greatly missed, we look forward to working closely with Ann Marie Mehlum and the SBA team to build on the remarkable progress that has been made during Administrator Mills’ tenure.”

Mehlum started her career at Wells Fargo Bank following an MBA from the University of California, Berkeley, and a bachelor’s degree in economics from Pacific Lutheran University. She has held leadership roles in the Oregon Bankers Association, the International Women’s Forum, and the Eugene Area Chamber of Commerce, and was appointed by Oregon Governor John Kitzhaber to serve on the Oregon Growth Board.

The 504 loan initiative is a self-funded long-term financing tool at no cost to taxpayers providing small businesses with long-term, fixed-rate loans with down payments as low as 10 percent. Certified development companies (CDC) work with the SBA and private sector lenders to provide financing to small businesses under the 504 loan program.

The National Association of Development Companies (NADCO) is the trade association of certified development companies (CDCs) – nonprofit companies that have been certified by the Small Business Administration (SBA) to provide financing for small businesses under the SBA 504 Program. NADCO represents nearly 270 CDCs, serving all 50 states. In 2012, the industry provided $6 billion to nearly 10,000 U.S. small businesses.

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