Former SBA Regional Administrator Bruce Thompson accepts new position at USEDLC
Former Region IX Administrator for the US Small Business Administration (2001-2009) Bruce Thompson on Friday accepted the position of Senior Vice President at US Employment Development Lending Center (USEDLC), a fast growing lending institution that raises EB-5 funds to make SBA 504 loans to California small businesses and create new jobs.
- (1888PressRelease) September 27, 2011 - Bruce has been involved in a few overseas promotional campaigns of the EB-5 Regional Center program since April 2011, but only as senior business advisor of the organization. Sources now believe that he is poised to take over a key position for a long run.
"The value Bruce has brought to this business is tremendous," said John Shen, the Chief Executive Officer of USEDLC, "his full understanding of the EB-5 concept and years of experience overseeing SBA loan programs created instant credibility for the new Regional Center and has won many investors for us."
Thompson seems like a good fit to help elevate USEDLC to the next level. He served six years representing the 66th Assembly District in the California State Legislature starting in 1994. As an active Republican leader, Thompson helped George W. Bush win the 2000 presidential election as a California co-chair for the campaign and was appointed by the White House later as the Regional IX Administrator for the Small Business Administration. As head of the largest SBA region in the country, Thompson oversaw an average of 6 billion dollars of loan activity every year during his eight-year term.
USEDLC is a private lending organization formed under the regional center pilot program in EB-5 immigration category. This particular regional center invests immigrant investors' funds in the SBA 504 loan program that helps create small business jobs in California, a dream goal set by both California State and Federal governments. Sources say that currently the organization has raised 40 million dollars to fund qualified SBA 504 projects throughout California with plans to expand their lending model in other states such as New York, Florida, Texas and Illinois.
"I am honored and eager to successfully lead USEDLC as we continue to accomplish our goals by assisting small business owners and investors in achieving their dreams," said Thompson, "Job creation in America is so vastly needed, and this program is the right way to do just that."