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BUSINESS FINANCING GLOSSARY

CDC (Certified Development Company)

A nonprofit, SBA-approved entity that provides the second-mortgage portion of an SBA 504 loan, alongside a bank’s first mortgage.

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Related terms

SBA 504 Loan→An SBA program for major fixed assets — owner-occupied real estate and heavy equipment — combining a bank loan and a CDC loan at long terms and below-market fixed rates.SBA 7(a) Loan→The SBA’s flagship, most flexible program — up to $5M for working capital, acquisitions, equipment, or real estate, with low rates and long terms via approved lenders.SBA Loan→A loan partially guaranteed by the U.S. Small Business Administration, which lowers lender risk so you get the lowest rates and longest terms in commercial lending.

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