Business Development Corporation of SC (BDC) became a US Treasury Certified CDFI in August
2015 and a SC Certified CDFI in December 2015.
BDC provides individuals and businesses with opportunities to access funds for local growth, job
creation and economic development, with a priority focus on low to moderate income and
WHAT IT MEANS TO BE A CDFI
- Community Development Financial Institutions - or CDFIs - are mission-driven
financial institutions that are dedicated to providing financial services to meet the needs
of economically disadvantaged individuals within underserved communities.
- CDFIs invest in local communities and the residents who live there by providing critically
needed financing often unavailable from mainstream financial institutions.
- CDFIs are certified by the U.S. Department of the Treasury's Community Development
Financial Institutions Fund – known as the CDFI Fund. In order to become a certified
CDFI, the financial institution must: have a primary mission of promoting community
development; provide financial products and services; serve one or more defined lowincome
target markets; maintain accountability to the community it serves; and be a legal
- All CDFIs share a common mission of serving low-income communities. CDFIs are
commonly loan funds, credit unions, community banks, or venture capital funds.
- Certified CDFIs are part of a national network promoting economic growth in
America's underserved communities by financing businesses, creating jobs, and
- As a CDFI, Business Development Corporation of SC puts the community first and
values local, economic growth and job creation.