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Certified Development Company (CDC) definition

What is the definition of a "Certified Development Company (CDC)"? 
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 ( to find one covering your geographic area. 
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