Overview
What is Caprock Business Finance Corp Inc?
Caprock Business Finance Corp Inc is a nonprofit organization based in Lubbock, Texas, with a specific mission to assist small businesses in their growth and expansion. They accomplish this by originating loans, providing crucial financial counseling services, and offering consulting that would otherwise be unattainable for these businesses. In the current year, Caprock has successfully helped 15 businesses secure and fund $11,113,157 through SBA 504 loans. Since its inception, the organization has originated a significant total of $147,958,608 in SBA 504 loans, significantly contributing to job creation in the process.
Official website here: www.caprock504.org
Is Caprock Business Finance Corp Inc legitimate?
Caprock Business Finance Corp Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Caprock Business Finance Corp Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.caprock504.org
What is the mission statement of Caprock Business Finance Corp Inc?
Caprock Business Finance Corp Inc's mission is centered around supporting small businesses by originating loans, thereby fostering economic growth and expansion. This organization also provides essential consulting and financial counseling services to businesses that might otherwise lack access to such resources. By offering these services, Caprock Business Finance Corp Inc aims to help small businesses thrive, ultimately contributing to overall economic development. In the current year, Caprock has assisted 15 businesses in securing SBA 504 loans totaling $11,113,157, a significant achievement in its mission to support small businesses. To date, the corporation has originated a total of $147,958,608 in SBA 504 loans, creating and saving numerous job opportunities.
Official website here: www.caprock504.org
Who is the CEO of Caprock Business Finance Corp Inc?
Tim Pierce is the President of Caprock Business Finance Corp Inc.
Official website here: www.caprock504.org
What is the revenue of Caprock Business Finance Corp Inc?
Caprock Business Finance Corp Inc's revenue in 2022 was $399,749.
Official website here: www.caprock504.org
Who are the executives of Caprock Business Finance Corp Inc and what are their salaries?
Here are 14 key members and their salaries:
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Official website here: www.caprock504.org
Where can I find the form 990 for Caprock Business Finance Corp Inc?
Caprock Business Finance Corp Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.caprock504.org
Learn more at the official website: www.caprock504.org
Mission Statement of Caprock Business Finance Corp Inc
Caprock Business Finance Corp Inc, a renowned organization, is committed to a mission that primarily focuses on two key areas. Firstly, it originates loans for small businesses, aiming to facilitate their economic growth and expansion. Secondly, Caprock provides consulting and financial counseling services to small businesses that might otherwise find it challenging to access such resources. This dual approach is designed to support the financial well-being and growth of small businesses, which are instrumental in driving economic development. To date, Caprock has successfully originated over $147 million in SBA 504 loans, saving and creating numerous jobs in the process.
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Impact
October, 2024
Caprock Business Finance Corp Inc plays a vital role in fostering economic growth and development by facilitating access to funding for small businesses. By originating loans specifically for small enterprises, Caprock has successfully assisted 15 businesses in securing over $11 million in SBA 504 loans within the current year alone. This impressive accomplishment contributes significantly to job creation and retention in the local community.
Over the course of its operations, Caprock has originated nearly $148 million in SBA 504 loans, which not only provides essential financial resources for business expansion but also directly supports the local economy. Additionally, Caprock offers invaluable consulting and financial counseling services, ensuring that businesses, particularly those that may not have access to traditional financial resources, can thrive and grow. This holistic approach to business finance and community improvement positions Caprock as a cornerstone of economic development in Lubbock, TX, positively impacting both individual businesses and the broader economic landscape.
This information is meant to be a general summary of Caprock Business Finance Corp Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $8,622
- Program Service Revenue: $360,877
- Gross Receipts: $399,749
Assets and Liabilities:
- Total Assets: $1,624,511
- Total Liabilities: $84,606
- Net Assets: $1,539,905
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN SERVICING FEES
Revenue
$245,700
LOAN PROCESSING FEES
Revenue
$92,428
ESCROW ACCOUNT INTERES
Revenue
$22,749
Organization Details
Founding Year
1981
Phone
(806) 762-8721Principal Officer
Tim Pierce
Main Address
FREEDOM STATION BOX 3730, LUBBOCK, TX, 794523730
Website
www.caprock504.orgNTEE Category
Code: S43 - Community improvement
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