2026-09-24T16:35:49-05:00 2025-12-31 521711839 COUNCILOR BUCHANAN & MITCHELL PC 7910 WOODMONT AVE STE 500 BETHESDA MD 20814 990 2025-01-01 953512045 CDC SMALL BUSINESS FINANCE CORPORATION CDCS 7036472300 2448 HISTORIC DECATUR ROAD 200 SAN DIEGO CA 92106 JARET INGS INTERIM CFO 7036472360 2026-09-21 1 JOSEPH J BARRECA P00310073 3019860600 2026-09-21 2025 JARET INGS 2448 HISTORIC DECATUR ROAD 200 SAN DIEGO CA 92106 74901399 0 X WWW.CDCLOANS.COM X 1978 CA WE HELP BUILD INCLUSIVE AND EQUITABLE COMMUNITIES BY PROVIDING PEOPLE ACCESS TO THE CAPITAL AND OPPORTUNITIES THEY DESERVE. 16 15 172 0 74391 13878 1557562 1189102 13218727 12720584 11356170 22954850 4834008 4635138 30966467 41499674 0 0 0 0 18377087 21779045 0 0 0 10888493 15742782 29265580 37521827 1700887 3977847 133382730 178901539 66414668 107955630 66968062 70945909 X SEE SCHEDULE O 0 0 14226494 10185742 COMMUNITY LOAN PROGRAMS: CDC ORIGINATES, SERVICES, AND SELLS LOANS GUARANTEED BY THE SBA UNDER ITS COMMUNITY ADVANTAGE 7A PROGRAM. THESE LOANS ARE USED BY THE BORROWERS FOR A VARIETY OF PURPOSES AND ARE CAPPED AT $350,000 PER LOAN. CDC ALSO ADMINISTERS SEVERAL LENDING PROGRAMS INCLUDING THE SBA MICROLOAN PROGRAM, A STATE SPONSORED COMMUNITY ADJUSTMENT AND INVESTMENT LOAN PROGRAM, LA DIRECT AND FAST TO FUND, CALIFORNIA REBUILDING FUND, ACTIVATE DETROIT, AND MOTOR CITY CONTRACTORS FUND, ALL OF WHICH ARE DESIGNED TO PROVIDE LOANS TO SMALL BUSINESSES. 7651667 11345053 SBA SECTION 504 LOAN PROGRAM: CDC'S PRIMARY SOURCE OF REVENUE IS THE SERVICING AND PROCESSING OF THE SMALL BUSINESS ADMINISTRATION'S ("SBA") 504 LOAN PROGRAMS. THE 504 LOAN PROGRAM PROVIDES LONG-TERM, FIXED RATE FINANCING FOR MAJOR FIXED ASSETS THAT PROMOTE BUSINESS GROWTH AND JOB CREATION. 21878161 1 1 0 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 55 0 1 172 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X JARET INGS CO CDC SMALL BUSINESS FINANCE CORPORATION 7036472300 2231 CRYSTAL DRIVE SUITE 203 ARLINGTON VA 22202 ELLIS CARR PRESIDENT & CEO 20.00 20.00 X X 0 1192484 35000 ALAINA BEVERLY DIRECTOR 1.00 1.00 X 0 0 0 OSWALDO ACOSTA DIRECTOR 1.00 1.00 X 0 3750 0 RICK BENITO DIRECTOR 1.00 1.00 X 0 3750 0 ERIK CALDWELL DIRECTOR 1.00 1.00 X 0 5000 0 SHERYL CAMERON DIRECTOR 1.00 1.00 X 0 0 0 KURT CHILCOTT DIRECTOR/CONSULTANT 1.00 1.00 X 0 3750 0 GRACE CHIONUMA DIRECTOR 1.00 1.00 X 0 0 0 GARY CUNNINGHAM DIRECTOR 1.00 1.00 X 0 7500 0 JENNIFER SMITH DOLIN DIRECTOR 1.00 1.00 X 0 5000 0 CASEY FANNON DIRECTOR 1.00 1.00 X 0 5000 0 PEDRO GOITIA DIRECTOR 1.00 1.00 X 0 5000 0 GAIL MARKULIN DIRECTOR 1.00 1.00 X 0 5000 0 TYLER ORION DIRECTOR 1.00 1.00 X 0 5000 0 FRANK ROBINSON DIRECTOR 1.00 1.00 X 0 2500 0 TOM TOPUZES DIRECTOR 1.00 1.00 X 0 5000 0 DAN VARNER DIRECTOR 1.00 1.00 X 0 5000 0 NATALIE GUNN CHIEF FINANCIAL OFFICER 20.00 20.00 X 0 481202 71793 KIMBERLY MANUEL-DICKENS CHIEF STRATEGY AND GROWTH OFFICER 20.00 20.00 X 0 287729 33172 BRIAN MCEVOY GENERAL COUNSEL 20.00 20.00 X 0 422879 62500 MATTHEW WEHLAND CHIEF OPERATING OFFICER 20.00 20.00 X 0 393320 41160 JARET DINARD INGS SENIOR DIRECTOR OF FINANCE 20.00 20.00 X 0 350910 61475 KIM DORSETT CHIEF HUMAN RESOURCE OFFICER 20.00 20.00 X 0 351090 46740 ANTHONY BARENGO HEAD OF COMMERCIAL REAL ES 40.00 X 296740 0 41100 SHELLI HAYMAN SR. VP, SMALL BUSINESS LENDING 40.00 X 246702 0 43955 ERIN HEBERT HEAD OF OPERATIONS 40.00 X 266858 0 50583 KENNETH ROSENTHAL SR. ADV FOR LENDING EDU & TRAINING 40.00 X 479059 0 43816 STACEY SANCHEZ EXTERNAL SR LOAN OFFICER- TEAM LEAD 40.00 X 233612 0 43816 ANDREW MORT VP, SBA 504 & CRE SALES MGR 40.00 X 236760 0 29012 1759731 3540864 604122 70 0 1 0 WHITE CONSTRUCTION 1808 ASTON AVE SUITE 100 CARLBAD CA 92008 CONSTRUCTION 705726 LENDERS COOPERATIVE 5050 RITTER ROAD SUITE A MECHANICSBURG PA 17055 DEVELOPMENT SERVICES 588574 TODD E KOBERNICK 2448 HISTORIC DECATUR RD SUITE 220 SAN DIEGO CA 92106 LEGAL SERVICES 324868 ALDRIDGE PITE LLP 3525 PIEDMONT ROAD NE BUILDING SIX ATLANTA GA 30305 FORECLOSURE EXPENSES 163309 LIEN SOLUTIONS PO BOX 301133 DALLAS TX 75303 LIEN SEARCHES 133574 7 1189102 1189102 SERVICING FEES 522220 10557818 10557818 PROCESSING FEES 522220 966693 966693 PACKAGING FEES 522220 702418 702418 CLOSING FEES 522220 493655 493655 12720584 8532752 5646725 2886027 788091 575736 212355 212355 74391 137964 11500000 35748087 258614 32567375 11241386 3180712 14422098 3180712 11241386 SBA FLOAT 522220 3623569 3623569 OTHER INCOME 900099 349271 349271 REVENUE REIMBURSEMENT 522220 194925 194925 255018 255018 4422783 41499674 25970804 74391 14265377 337840 337840 16499831 9211432 7288399 1492108 1259780 232328 2038882 1666516 372366 1410384 1057161 353223 455007 99239 355768 515564 112447 403117 6000 6000 1467353 117695 1349658 302946 220785 82161 500514 40148 460366 1090779 3157 1087622 110361 20618 89743 125328 10052 115276 4163214 1605554 2557660 288071 288071 187620 40921 146699 PROVISION FOR LOAN LOSS 4760735 4760735 LENDING COST 1320926 1234422 86504 PROPERTY TAXES 279596 60981 218615 DUES & MEMBERSHIPS 158066 12678 145388 10702 10702 37521827 21878161 15643666 0 17178817 20308443 3012496 7154478 15441974 19653852 82630596 109024429 4530456 3357894 12347250 5385323 7370069 6961927 2030566 11232152 1187756 1208364 133382730 178901539 6064581 9973182 994661 861494 57225908 93709299 2129518 3411655 66414668 107955630 X 61649438 64918007 5318624 6027902 66968062 70945909 133382730 178901539 3977847 0 X X 0 1 X 1 1 1 X 738955 2034162 2654144 1557562 1189101 8173924 24127172 24957983 24637305 24620311 32984331 131327102 24866127 26992145 27291449 26177873 34173432 139501026 0 0 0 139501026 5444626 4597 206619 404829 3023991 9084662 5444626 4597 206619 404829 3023991 9084662 -131116 109139 106964 74391 159378 30310753 26865626 27607207 26689666 37271814 148745066 0.93790 0.94770 0.06110 0.05160 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 6000 6000 0 PART II-B, LINE 1: CONSULTANT SERVICES INCLUDED CONGRESSIONAL OUTREACH IN REGARDS TO THE SBA MICROLOAN PROGRAM. 2300000 2300000 8887265 4242015 4645250 60025 47599 12426 1088460 1086864 1596 11500 8845 2655 6961927 INVESTMENT IN LENDERS COOPRATIVE INC 9234158 C ALTERNATIVE INVESTMENTS 1997994 C 11232152 DEFERRED DEPOSITS 2990301 TENANTS RESERVE REFUNDABLE DEPOSITS 26497 LEASE LIABILITY 394857 3411655 X PART X, LINE 2: THE ORGANIZATION ELECTED TO CHANGE ITS EXEMPT STATUS FROM SECTION 501(C)(4) TO 501(C)(3) NOVEMBER 24, 2020. THE ORGANIZATION IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(F) OF THE CALIFORNIA REVENUE AND TAXATION CODE. CDC HAS A WHOLLY OWNED INTEREST IN SAN DIEGO REGION SMALL BUSINESS DEVELOPMENT ORGANIZATION, AN ORGANIZATION EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(F) OF THE CALIFORNIA REVENUE AND TAXATION CODE. CDC ALSO HAS A CONTROLLING INTEREST IN BANKERS AND MOMENTUS DIRECT CAPITAL, WHICH ARE WHOLLY OWNED FOR-PROFIT CORPORATIONS. THE ORGANIZATION HAS NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2025. BANKER AND MOMENTUS DIRECT CAPITAL DID NOT HAVE ANY TAXABLE INCOME DURING THE YEAR, AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2025, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. X X X X X X 0 0 0 0 0 0 0 1 0 ELLIS CARR PRESIDENT & CEO 0 1192484 0 0 0 0 0 35000 0 0 0 1227484 0 0 NATALIE GUNN CHIEF FINANCIAL OFFICER 0 481202 0 0 0 0 0 41240 0 30553 0 552995 0 0 KENNETH ROSENTHAL SR. ADV FOR LENDING EDU & TRAINING 140474 0 338585 0 0 0 29109 0 14707 0 522875 0 0 0 BRIAN MCEVOY GENERAL COUNSEL 0 422879 0 0 0 0 0 31814 0 30686 0 485379 0 0 MATTHEW WEHLAND CHIEF OPERATING OFFICER 0 393320 0 0 0 0 0 30712 0 10448 0 434480 0 0 JARET DINARD INGS SENIOR DIRECTOR OF FINANCE 0 350910 0 0 0 0 0 35109 0 26366 0 412385 0 0 KIM DORSETT CHIEF HUMAN RESOURCE OFFICER 0 351090 0 0 0 0 0 29115 0 17625 0 397830 0 0 ANTHONY BARENGO HEAD OF COMMERCIAL REAL ES 248631 0 48109 0 0 0 29252 0 11848 0 337840 0 0 0 KIMBERLY MANUEL-DICKENS CHIEF STRATEGY AND GROWTH OFFICER 0 287729 0 0 0 0 0 7600 0 25572 0 320901 0 0 ERIN HEBERT HEAD OF OPERATIONS 222905 0 43953 0 0 0 25697 0 24886 0 317441 0 0 0 SHELLI HAYMAN SR. VP, SMALL BUSINESS LENDING 206395 0 40307 0 0 0 23573 0 20382 0 290657 0 0 0 STACEY SANCHEZ EXTERNAL SR LOAN OFFICER- TEAM LEAD 125802 0 107810 0 0 0 29109 0 14707 0 277428 0 0 0 ANDREW MORT VP, SBA 504 & CRE SALES MGR 210641 0 26119 0 0 0 27811 0 1201 0 265772 0 0 0 PART I, LINE 7 THE ORGANIZATION SETS OVERARCHING CORPORATE STRATEGIC PERFORMANCE GOALS AND KEY METRICS FOR THE YEAR THAT ARE APPROVED BY THE BOARD OF DIRECTORS. INDIVIDUALS THEN DEVELOP INDIVIDUAL PERFORMANCE GOALS AS APPLICABLE, LEVERAGING AND TYING INTO THE CORPORATE GOALS. THE BOARD OF DIRECTORS APPROVES A TOTAL BONUS POOL TO BE ALLOCATED AMONGST EMPLOYEES AT THE DISCRETION OF MANAGEMENT IN CONCERT WITH EVALUATIONS OF PERFORMANCE PER EMPLOYEE PERFORMANCE GOALS. FORM 990, PART III, LINE 1: WE HELP BUILD INCLUSIVE AND EQUITABLE COMMUNITIES BY PROVIDING PEOPLE ACCESS TO THE CAPITAL AND OPPORTUNITIES THEY DESERVE. FORM 990, PART IV, LINE 34: ON FEBRUARY 7, 2025, CDC SMALL BUSINESS FINANCE ENTERED INTO A DEFINITIVE AGREEMENT TO SELL ITS OWNERSHIP INTEREST IN CDC VENTURES TO LENDERS COOPERATIVE, INC. THE TRANSACTION CLOSED ON FEBRUARY 7, 2025, AND THE TOTAL CONSIDERATION RECEIVED WAS $1,000,000 IN CASH AND $10,500,000 IN STOCK. THE SALE RESULTED IN A GAIN OF $11,241,385. THE DIVESTITURE WAS ACCOMPLISHED TO BETTER ALIGN THE CDC SMALL BUSINESS FINANCE CORPORATION TAX EXEMPT STRATEGIC INITIATIVES AND ALLOW THE ORGANIZATION TO FOCUS ON CORE OPERATIONS. CDC NOW HAS A 33.9% VOTING INTEREST IN LENDERS COOPERATIVE, INC. AS PART OF THE TRANSACTION, CDC NOW APPOINTS ONE OF THE THREE BOARD MEMBERS OF LENDERS COOPERATIVE. ELLIS CARR, THE CDC PRESIDENT AND CEO, IS CURRENTLY FILLING THAT BOARD POSITION. FORM 990, PART VI, SECTION A, LINE 1A THE ORGANIZATION HAS AN EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE CHAIR OF THE AUDIT COMMITTEE REVIEWS THE FORM 990 WITH CDC SMALL BUSINESS FINANCE'S CHIEF FINANCIAL OFFICER, CONTROLLER AND TAX PREPARER BEFORE IT IS SUBMITTED TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE THEN INDEPENDENTLY REVIEWS THE FORM 990 PRIOR TO FILING. THE CHAIR OF THE AUDIT COMMITTEE REPORTS ON THE PROCESS AND FINDINGS OF THE AUDIT COMMITTEE AT THE NEXT REGULARLY SCHEDULED MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE GENERAL COUNSEL AND THE ETHICS OFFICIAL DESIGNATED IN THE CODE OF CONDUCT AND ETHICS POLICY JOINTLY EVALUATE ALL CONFLICTS OF WHICH THEY BECOME AWARE AND SUBMIT SUCH CONFLICTS FOR RESOLUTION TO THE BOARD'S AUDIT COMMITTEE, IF NECESSARY. MINUTES REFLECTING ALL MEETINGS HELD AND ACTIONS TAKEN BY THE AUDIT COMMITTEE, INCLUDING WITH RESPECT TO CONFLICTS MATTERS, ARE INCLUDED IN THE CORPORATE RECORD BOOK. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING AND MAKING RECOMMENDATIONS WITH RESPECT TO EXECUTIVE COMPENSATION TO ITS EXECUTIVE COMMITTEE (THE "EXECUTIVE COMMITTEE"), PURSUANT TO THE BOARD AND COMMITTEE RETAINED AUTHORITY AND DELEGATION OF AUTHORITY TO MANAGEMENT AND THE EXECUTIVE COMMITTEE CHARTER. THE EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION OF THE EXECUTIVE OFFICERS OF CDC SMALL BUSINESS FINANCE; THE EXECUTIVE COMMITTEE THEN REPORTS ITS PROCESS, FINDINGS, AND RECOMMENDATIONS TO THE BOARD OF DIRECTORS FOR INDEPENDENT REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS. THE PROCESS INCLUDES MAKING THE PROCESS OF COLLECTING AND REVIEWING MARKET DATA FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER AND THE REST OF THE EXECUTIVE MANAGEMENT TEAM; PERIODICALLY ENGAGING INDEPENDENT CONSULTANTS TO PERFORM INDEPENDENT MARKET ANALYSIS; EVALUATING THE PERFORMANCE OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER; AND RECOMMENDING ANNUAL EXECUTIVE-LEVEL COMPENSATION AND INCENTIVES (IF ANY) TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST AT THE CORPORATE OFFICE. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. SAN DIEGO REGION SMALL BUSINESS DEVELOPMENT 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 330845173 PROVIDE ECONOMIC DEVELOPMENT TO SMALL BUSINESS IN SAN DIEGO CA 501(C)(3) LINE 7 CDC SMALL BUSINESS FINANCE CORP 1 CAPITAL IMPACT PARTNERS 1400 CRYSTAL DRIVE 500 ARLINGTON VA 22202 521290127 COMMUNITY LENDING AND DEVELOPMENT DC 501(C)(3) LINE 7 N/A 0 BANKERS SBDC OF CALIFORNIA 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 330517722 FINANCE CA CDC SMALL BUSINESS FINANCE CORP C 735019 7012025 1.00000 1 SMALL BUSINESS FINANCE NMTC LLC 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 264096692 NEW MARKET TAX CREDITS CA CDC SMALL BUSINESS FINANCE CORP C 37515 697204 1.00000 1 CDC VENTURES 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 330918531 DEVELOPMENT AND OPERATION OF LOAN ORIGIANTION AND SERVICING SOFTWARE CA CDC SMALL BUSINESS FINANCE CORP C 793976 1 LENDERS COOPERATIVE INC 5050 RITTER RD MECHANICSBURG PA 17055 920760167 LOAN ORIGINATION AND SERVICING SOFTWARE PLATFORMS FOR FINANCIAL INSTITUTIONS PA C 2159984 5091517 0.33900 0 MOMENTUS DIRECT CAPITAL INC 2448 HISTORIC DECATUR RD 200 SAN DIEGO CA 92106 201904046 COMMERCIAL FINANCE CA CDC SMALL BUSINESS FINANCE CORP C 5406095 67073063 1.00000 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 MOMENTUS DIRECT CAPITAL A 2331 CASH MOMENTUS DIRECT CAPITAL D 46400837 CASH BANKERS SMALL BUSINESS CDC OF CALIFORNIA D 176907 CASH MOMENTUS DIRECT CAPITAL P 8001406 CASH BANKERS SMALL BUSINESS CDC OF CALIFORNIA P 2500000 CASH SMALL BUSINESS FINANCE NMTC P 234848 CASH