Enchantment Land Certified Development Company (ELCDC) is pleased to announce the addition of its newest staff member, Vaughn Vialpando.

A New Mexico native from Raton, Vialpando is the Closing and Portfolio Manager at ELCDC, a non-profit certified development company authorized by the U.S. Small Business Administration (SBA) to manage the 504 loan program in all counties of New Mexico and El Paso County, Texas.

ELCDC has an existing portfolio of 348 loans with an outstanding balance of $116,145,000. To date, ELCDC has approved three loans in Colfax County.

As the Closing and Portfolio Manager, Vialpando is responsible for overseeing maintenance of the portfolio quality and compliance with all closing requirements of the 504 Loan authorizations. He resolves complex servicing actions including subordinations, assumptions, workouts and liquidations.

Vialpando came to ELCDC with a bachelor’s degree in Accounting from the University of Phoenix in Albuquerque and extensive experience in the banking industry.

His banking career began at Bank of the West in Albuquerque working as a customer service representative. Vialpando was there for over nine years working his way up to positions of increasing responsibility and developing skill with loan preparation and customer service. V

ialpando then went to work as a business banking associate for Irwin Union Bank where he worked for three years prior to joining the staff at ELCDC.

With his attention to detail, strong emphasis on customer service and extensive experience, Vialpando will be able to assist ELCDC in more efficiently addressing the needs of the small businesses it works with.

SBA 504 loans are structured with a 1st mortgage from a bank (usually 50%), a 2nd mortgage 504 loan, and a minimum 10% down from the small business who benefits from the low down payment, fixed rate, long term financing. ELCDC offices in Albuquerque, Santa Fe, Las Cruces and El Paso help the business owner with the SBA 504 loan application paperwork.

For questions about ELCDC or the 504 Loan program, call the Albuquerque office toll free at 888-282-9232 or check out the website at www.elcdc.com.