Claudine Tikoian has been named vice president of credit administration at the Business Development Company of Rhode Island. Tikoian will assist with maintaining current portfolio clients and underwrite new loans, as well as engage in new business development. Previously, Tikoian served as a loan portfolio manager at the R.I. Economic Development Corporation. She has a B.S. in finance and an MBA from Bryant University.
PBN: What are you looking forward to in your new position?
TIKOIAN: As vice president of credit administration for the Business Development Company of Rhode Island, my primary responsibilities are to manage the existing portfolio of approximately 40 companies, promote and generate new loan opportunities and underwrite loan requests. … I look forward to building on my experience in lending to small businesses, as well as working with our lending partners, including local banks and other non bank lenders, by providing those businesses that qualify with the growth capital they need to create jobs and ultimately aid in economic recovery.
PBN: What was one of the most exciting projects or initiatives that you worked on during your tenure at EDC?
TIKOIAN: Working at EDC afforded me the ability to get involved with many exciting financing and lending opportunities within the Rhode Island small-business community. I find helping small businesses grow, thrive, and ultimately create jobs via access to capital to be tremendously rewarding, as they are the backbone of our economy. The companies I have helped fund, ranging from small to large, spanning all industries, are located in all regions of Rhode Island.
PBN: What is your take on the lending climate?
TIKOIAN: There is no question that for the last year economic conditions have negatively affected lending. Credit tightened as lenders had to wrestle with diminished collateral values and increased payment defaults within their existing portfolios. Additionally, the high unemployment rate in Rhode Island has contributed to an increase in startup companies as individuals try to find other ways to earn a living. Capital for these types of businesses is the hardest to come by, given the risk associated with them. We are starting to see positive signs, however, and recent changes to the SBA guaranty program will help credit flow, although it will be a slow recovery. •
