Morgan Stanley today announced it will set aside up to $500 million to purchase new and existing small business owners' commercial real estate loans from regional and community banks so that they can use this cash infusion for new loans to spur expansion and the creation of new jobs in the small business sector.
The Morgan Stanley SBA 504 Program will initially be available through the nonprofit Community Reinvestment Fund, USA and CDC Direct Capital, a subsidiary of CDC Small Business Finance, a development company specializing in financing for small businesses.
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