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 2 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.

OUR PARTNERS

wells
USDA

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