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Certified Development Company (CDC) definition

Question
What is the definition of a "Certified Development Company (CDC)"? 
Answer
A Certified Development Company (CDC) is a nonprofit corporation set up to contribute economic development in their local communities. CDC's work with the SBA and private sector lenders in a public-private partnership to provide financing to small businesses through the SBA 504 loan program. It provides affordable long-term, fixed-rate financing to help healthy, expanding small businesses grow. The loans are for acquiring long-term fixed assets, such as land, buildings, machinery and equipment, or for building, modernizing, renovating or restoring facilities.

There are about 270 Certified Development Companies (CDC's). Search the SBA website (sba.gov) to find one covering your geographic area. 
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