Wilshire Park Capital Growth Program Provides Record $259 Million in Financing for Small Businesses in FY10
At a time when capital was scarce for small business, financing by the Wilshire Park growth capital program increased 23 percent in fiscal year 2010, providing a record $259 Million to help small businesses grow.
The fiscal year 2010 volume is the highest single-year volume since its start.
At a time when access to capital is tight, including from the traditional sources for growth capital, Wilshire Park helped fill some of that gap with a record amount of financing through its capital growth program.
The Wilshire Park Capital Growth Program was created to stimulate the growth of small businesses by supplementing the long-term debt and private-equity capital available to them, with a long term goal of taking them public via an IPO.
The Wilshire Park Capital Growth Program processing time improved to just 2.8 months in fiscal year 2010, a nearly 60 percent decrease from an average of 4.6 months in 2009.
The record high capital commitment to support small businesses broke yet another record by increasing in fiscal year 2010. Equally important, the programs attracted record levels of additional private capital commitments, increasing to $65 million in 2010 from $62.1 million in previous years.
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