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Colorado Lending Source and REI Business Lending acknowledged for economic development efforts

Thursday, May 21, 2015   (0 Comments)
Posted by: Heather McNelis
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[WASHINGTON, DC] This year at the 2015 Spring Summit, NADCO initiated the Diamond Award Series as a way to acknowledge CDC excellence in the area of economic development.


Caption: John Evans, NADCO’s Region 8 Director accepts the Innovation in Economic Development Diamond Award on Behalf of Mike O’Donnell, Director of Colorado Lending Source. NADCO Chairman Sally Robertson presented the award at Monday’s keynote session.

The Innovation in Economic Development Diamond Award, won by Colorado Lending Source, and the Partnership in Economic Development Diamond Award, presented to REI Business Lending (REI), were selected by an independent panel of experts from the Opportunity Finance Network, International Economic Development Council, and the National Association of Development Organizations.

During Monday’s keynote session, Colorado Lending Source was recognized for its experiential learning program called Ice House Entrepreneurship, which teaches critical aspects of entrepreneurial thinking, derived from the book, Who Owns the Ice House, by Pulitzer Prize nominee Clifton Taulbert. The program has already trained 71 participants, to whom Colorado Lending Source has provided many full and partial scholarships for participation.

The Diamond Award for Partnership in Economic Development was presented to Debbie Partin, Director of REI, for leveraging likeminded organizations within its community to maximize local economic impact, specifically in promoting women and Native American-owned businesses. REI partners with Women’s Business Centers and Native American Business Centers as well as the Choctaw Nation of Oklahoma to improve affordable housing availability and educational opportunities, attract private investment, and assist local and tribal leaders in navigating federal programs.

President and CEO of Business Finance Group and NADCO Chairman Sally Robertson presented the Innovation in Economic Development award, followed by a keynote session given by SBA Administrator Maria Contreras-Sweet. NADCO Region 8 Director, John Evans, accepted the award in the absence of a representative from Colorado Lending Source.

Barbara A. Vohryzek, President and CEO of NADCO, presented the Award for Partnership in Economic Development to REI at Tuesday’s keynote session, followed by a presentation from VADM Ted Carter, Jr., Superintendent of the US Naval Academy.

The National Association of Development Companies (NADCO) is the trade association of U.S. Small Business Administration (SBA) lenders, including Certified Development Companies (CDCs), nonprofit companies that have been certified by the SBA to provide financing for small businesses under the SBA 504 Program. NADCO represents nearly 240 CDCs, serving all 50 states. In 2014, the industry provided $4.2 billion to nearly 5,700 U.S. small businesses.



Caption: Barbara A. Vohryzek [left] congratulates Debbie Partin [right] for her CDC’s partnerships that promote Native American and women-owned businesses in Oklahoma.

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