About Eastern American CDC

Eastern American CDC is a Certified Development Lender that provides financial support for its local community’s economic development through cooperation with local governments and local commercial banks. It is a 501 C3 Certified Economic Development Private Non Profit Corporation.

Eastern American CDC’s corporate structure includes CEO and President, Kwon Ho Jung, 9 Board of Directors and 4 authorized loan specialists. Kwon Ho Jung was SBA manager and EVP of community banks.

Eastern American CDC has 9 Board of Directors, 1 professional manager, and highly trained staffs. The Board consists of 5 different background and expertise in internal controls, financial risk management, commercial lending, legal issues relating to commercial lending, and corporate governance. In addition, Eastern American CDC has at least one voting director that represents the economic, community or workforce development fields, and at least two voting directors that represent the commercial lending field.

Each of these groups has its own Board of Directors chosen from its memberships and these directors are part of the Board of Directors, which acts as Executive Committee and Loan Committee.

The professional management team and staff are subject to rigorous SBA training in the SBA 504 program. The management team and staffs are highly skilled and experienced in packaging loans, processing loan applications, closing loans, servicing loans, and if necessary, liquidating such loans. Kwon Ho Jung is the Chief Executive Officer and personally oversees the staffs.

Vision

Eastern American CDC’s primary goal is to be a one stop financial service to the entrepreneur and small business owner. We consider the entrepreneur and the small business owner to be the heart and pioneering spirit of American business.

The most difficult challenge facing the entrepreneurs and small business owners today is simply: THE NEED FOR CAPITAL. While all entrepreneurs and small business owners work hard every day to achieve their business goals, they are not Financial Planners. Most small business owners are not familiar with navigating complex legal and financial documents which often translates to: NO ACCESS TO CAPITAL.

Eastern American CDC is a one stop shop serving financial products that the entrepreneur and small business owner needs on a daily basis. With our licensed ability to cooperate with local governments and financial institutions, Eastern American CDC creates a Cross Cultural Marketing Experience designed to assist the entrepreneur and small business owner in achieving success.

OUR EXPERIENCED TEAM

member

Kwon Ho Jung

CEO/PRESIDENT

Mr. Kwon H. Jung currently performs CDC to keep sound financial, asset condition and service portfolio quality and manages professional staffs and keep board governance quality also to keep regulatory compliance. Most importantly, develops local economy to create more jobs for local community. Mr. Jung has more than 17 years of lending experience in East Cost which include SBA 504 loans, SBA 7(A) loans, CRE loan, TLTB loan, Construction loan, C&I loan and Home Mortgage Loan.

Member

Marie Lee

Senior Loan Officer/ V.P

Mrs. Marie Lee currently performs internal control, development of 504 loan customers and supervising existing loan portfolio and closing procedures. She also performs educating the community about 504 loan program through providing seminar or other various methods. Mrs. Lee had been working for Korean American Banks for 20 years in Fort Lee/Palisades Park area to cover NJ market and Metropolitan New York where most of Korean Americans reside and their businesses are located. She has excellent understanding of this unique market; impeccable reputation among clients; the ability to manage multi network; and the analytical acumen necessary to develop and maintain a strong loan portfolio.

Member

Sam Kim

Loan Officer/Servicing Dept.

Mr. Sam Kim is responsible for managing the closing schedule, keeping track of closing checklist items, work with the attorney, borrower and Title Company to finalize the closing. He is monitoring of borrowers’ performance and compliance with the Note, loan authorization, other loan covenants and assessing risk rating & evaluating credit worthiness.

Member

Narae Ko

Loan Officer/Credit Dept.

Ms. Narae Ko is a credit officer/underwriter at Eastern American CDC. She has an extensive experience in variety of government business loans such as SBA 504, SBA 7(a), SBA Express loans and SBA Community Advantage loans as well as commercial conventional loans. She has shared her expertise to assist numerous business owners with their financing needs. As a former SBA loan underwriter, she is well educated and knows lending guidelines in detail.

OUR PARTNERS

sba
Nadco
wells
USDA

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