What We Do
The Regional Development Company (RDC) is a Certified Development Company (CDC.) CDCs are regional economic development organizations that are licensed by the U.S. Small Business Administration (SBA). CDCs cover various geographic regions that can range from a single county in a state to a multi-state region.
The RDC makes loans under the SBA 504 loan program to assist small business. The RDC processes, approves, closes and services all loans. Funding is arranged by the RDC through the Central Servicing Agent whom issues a bond. In all ways, the RDC is the direct lender for the SBA 504 loan program.
What is a Certified Development Company?
Certified Development Companies are local public/private partnerships organized as non-profit community based corporations that provide 504 financing to local small companies. They are "Certified" by the Small Business Administration to offer 504 loans to eligible small businesses. SBA guarantees the development companies' 504 loans. This loan program has the lowest default and loss rate of any of SBA's financing programs.
Certified Development Companies are staffed with professionals who work directly with small businesses. These professionals market, package, process, close and service 504 loans and many CDCs offer and implement other economic development programs in their areas of operation. There are over 300 Certified Development Companies nationwide.