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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 underserved areas.

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 non-governmental entity.
  • 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 rebuilding neighborhoods.
  • As a CDFI, Business Development Corporation of SC puts the community first and values local, economic growth and job creation.

 

CDFI