COLUMBUS DISTRICT CERTIFIED DEVELOPMENT COMPANIES

The 504 program is designed to enable small businesses to create and retain jobs; each CDC's portfolio must create or retain one job for every $50,000 in debenture proceeds provided by the SBA.

Typically, a 504 project includes:

• a loan secured with a senior lien from a private sector lender covering up to 50 percent of the project cost,
• a second loan with a junior lien from the CDC (a 100 percent SBA-guaranteed debenture) covering 40 percent of the project cost, and
• a contribution of at least 10 percent equity by the borrower.

Often, Certified Development Corporations are involved in many programs besides the SBA 504 program. Please contact one of the CDCs listed below to see what further assistance they can provide.