Since 1958, Business Development Corporation (BDC) has been financing small businesses in South Carolina, ultimately creating new jobs for the citizens of the Palmetto State. BDC and its associate company, Certified Development Corporation (CDC), which was founded in 1994, have approved more than 2,625 loans on projects in excess of $1.5 billion, making us leaders in economic development lending and job creation in South Carolina.

Now that BDC has been approved by the state and SBA to operate in seven (7) Southeastern states, they are able to bring these benefits to a much larger market area.

BDC, a non-bank, term commercial lending organization, was organized in 1958 by the South Carolina State Legislature as a non-governmental source of loan capital to promote business and industry in the state. This legislation provided for banks in South Carolina to become members of BDC and to make lines of credit available to BDC.

Today, thirty-two (32) member banks elect two-thirds of the board of directors of BDC and the shareholders elect the remaining one-third of the board. Since many members operate outside of South Carolina, BDC has been given lending authority by both the state and SBA to operate in these seven (7) states: South Carolina, North Carolina, Georgia, Tennessee, Virginia, Alabama and Florida.

BDC partners with banks and other financial institutions to provide another arm of financing to small businesses which are unable to obtain financing through traditional lending sources. BDC can lend to most owner-occupied businesses, including industrial and manufacturing as well as retail, service, wholesale and contracting organizations.

BDC is a term lender using SBA and other economic development programs to facilitate project financing for up to $5 million and, in some cases, more.