Community Certified Development Corporation

Overview

The Community Certified Development Corporation is a nonprofit organization that operates as a certified development company (CDC), although specific details about this particular entity are not readily available in the search results. Generally, CDCs are organizations certified by the Small Business Administration (SBA) to promote economic development in their communities through programs like the SBA 504 loan initiative.

Role in Economic Development

CDCs, like many others, typically work with small businesses to provide long-term financing options for projects such as purchasing real estate or investing in equipment. These organizations are integral to fostering economic growth by supporting local businesses, particularly those owned by underrepresented groups such as women and minorities.

SBA 504 Loan Program

The SBA 504 loan program is a key instrument through which CDCs facilitate financing. This program involves a partnership between a CDC and a private lender, where the CDC secures a portion of the loan amount. The program allows for favorable terms like fixed interest rates and long repayment periods, making it more accessible for small businesses to secure capital.

Public Policy Goals

CDCs are committed to achieving public policy goals by providing financial support to diverse business owners, including veteran and minority-owned businesses. They also focus on revitalizing neighborhoods and contributing to local economic development. However, specific information regarding the Community Certified Development Corporation's activities in these areas is not detailed in the available search results.

Structure and Governance

Typically, CDCs are governed by a board of directors with expertise in various fields such as finance and community development. However, detailed structural information about the Community Certified Development Corporation is not provided in the search results.

Certification and Regulation

CDCs are certified and regulated by the SBA, which ensures compliance with federal regulations governing their operations. They must meet specific criteria, including maintaining a non-profit status and aligning their operations with the economic development goals of their service areas.

Given the lack of specific information about the Community Certified Development Corporation, this article outlines general characteristics typical of CDCs in the United States.