Beth Solomon Out as NADCO Head

June 3, 2014

By Bob Coleman
Editor, Coleman Report

bethsolomonIn a very terse, one paragraph, statement NADCO has announced the departure of President & CEO Beth Solomon effective immediately.

The SBA 504 industry’s trade group statement is absent of the normal civility customarily provided to an outgoing leader and implies an abrupt, nasty end to Beth’s tenure.

I don’t know the particulars. No one is talking, at least to me. I know the details will come out in the future, they always do.

So, I won’t speculate about her departure, I will focus on Beth.

I thought Beth did an excellent job for NADCO. She provided strong leadership in defining and furthering the NADCO brand.

Her strengths are her integrity and her purposeful drive for effectively pursuing advocacy of the SBA 504 loan program.

She leaves a legacy at NADCO of developing the small business lending summits, bringing together SBA, lenders and other small business trade association lenders.

She was instrumental in making over NADCO with a new location, new website, and new leadership during a time when the industry is facing many serious challenges from SBA, Capitol Hill and competition.

I wish Beth the very best in the future.

Here is the announcement of Beth’s departure.

“The National Association of Development Companies (NADCO), Development Company Finance, LLC (DCF), and Beth Solomon, President and Chief Executive Officer of NADCO and Principal Manager of DCF, jointly announced today that Ms. Solomon has resigned from her positions, effective at the end of May.”

NADCO has appointed Kurt Chilcott as its interim president.

Kurt Chilcott says,”I am honored to have been asked to serve NADCO’s members as Interim President and CEO. As Certified Development Companies (CDCs), we play a unique role in our nation’s economy by increasing access to capital for small businesses to expand and create jobs. NADCO remains committed to advocating for our members across the country and working with Congress and SBA to create an environment where low-cost financing can be easily accessible to all small businesses.”