Business Development Corporation of SC (BDC) was established in 1958 by the South Carolina State Legislature to promote business and industry within the state. BDC is a non-bank commercial lending company specializing in the SBA 7(a) loan guaranty program.
Certified Development Corporation of SC (CDC), a sister corporation of BDC, has participated in providing financial assistance to businesses since 1994. CDC specializes in SBA 504 debenture financing — all of which are limited to the state of South Carolina.
Both BDC and CDC serve a unique role in South Carolina's economic picture, primarily by providing promising businesses a source for commercial loans not usually undertaken by traditional lending institutions.
Since 1958, BDC and CDC have approved more than 1,800 loans totaling more than $670 million, making them leaders in SBA lending in South Carolina. In 2012, BDC and CDC approved 49 SBA Loans/Debentures for more than $24 million, impacting the cities and counties of South Carolina through economic development and job creation.