Business Development Corporation of SC

What Business Development Corporation of SC does

Business Development Corporation of SC (BDC) is a privately-held, non-bank commercial lending company established in 1958 by the South Carolina State Legislature to promote business and industry within the state. Headquartered in Columbia, SC with a team of fewer than 20 professionals, BDC operates as the oldest SBA lender in South Carolina and a dual-certified Community Development Financial Institution (US Treasury and SC, both 2015). Its core products are SBA 7(a) Loan Program (variable rate, $100K-$5M, up to 25-year amortization), SBA 504 Loan Program (fixed rate, $100K-$5M, up to 90% financing), and the SSBCI Loan Participation Program ($50K-$1M participations, up to $20M loans, 5% down payment), supplemented by the SC Capital Access Program (micro-loans up to $100K), the Energy Efficiency Revolving Loan ($50K-$1M), and the Second Look Program for previously declined borrowers.

BDC generates revenue through interest income, origination fees, and guaranty fees tied to SBA-backed loan originations and participations, using a transaction-based / take-rate pricing model that varies by program. Its go-to-market is a channel-partner model: more than 30 member banks across South Carolina (including Ameris, First Citizens, SouthState, Truist, First Reliance, and Southern First) originate and refer loans, with BDC acting as guarantor, participant, or direct lender depending on the program. Eligible geographies cover South Carolina plus portions of Georgia and North Carolina for SBA 504 lending, with a particular focus on small for-profit businesses, manufacturers, very small businesses (under $2M annual sales), and underserved, minority, women, and veteran-owned borrowers. Cumulative impact since founding includes more than $2.07 billion invested via 3,335 small business loans.

Name

Business Development Corporation of SC

Legal name

Business Development Corporation of SC

Website

https://businessdevelopment.org

Company type

Private

Founded year

1958

Operating status

Operating

Headcount range

11–50 employees

Short description

Business Development Corporation of SC is a privately-held, non-bank commercial lender that provides SBA 7(a), SBA 504, SSBCI, and state-specific loan programs to small businesses across South Carolina through a 30+ member bank network.

Ownership category

akta.pro rank

Product category

Commercial Lending (SBA and State-Supported Small Business Loans)

NAICS

Nondepository Credit Intermediation (5222), Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Loan Brokers (6163), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industry

SBA/USDA Government-Backed Loan Intermediation (FSAEAEAI)

Keywords

• SBA lending
• Small business loans
• Commercial lending
• Loan participation programs
• Community development finance

Headquarters

HQ city

Columbia

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Loan Interest and Fees: BDC generates revenue through interest income on loans it originates or participates in, including SBA 7(a) loans, SBA 504 loans, and SSBCI loan participations. Revenue comes from loan interest, origination fees, and guaranty fees associated with SBA programs.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Business Development Corporation of SC (BDC) is a non-bank commercial lender offering a portfolio of SBA and state-specific loan programs designed to provide growth capital for small businesses. Core offerings include the SBA 7(a) Loan Program (flexible variable-rate financing up to $5M), the SBA 504 Loan Program (fixed-rate debenture financing up to $5M for real estate and equipment), and the SSBCI Loan Participation Program (participation financing with low down payments). Additional programs include the SC Capital Access Program for micro-loans up to $100K, the Energy Efficiency Revolving Loan for green upgrades, and the Second Look Program for businesses previously declined elsewhere.

Product overview

Business Development Corporation of SC is a non-bank commercial lender offering a portfolio of SBA and state-specific loan programs designed to provide growth capital for small businesses. The core offerings include the SBA 7(a) Loan Program (flexible variable-rate financing up to $5M), the SBA 504 Loan Program (fixed-rate debenture financing up to $5M for real estate and equipment), and the SSBCI Loan Participation Program (participation financing with low down payments). Additional programs include the SC Capital Access Program for micro-loans up to $100K, the Energy Efficiency Revolving Loan for green upgrades, and the Second Look Program for businesses previously declined elsewhere. BDC partners with over 30 member banks to facilitate lending across South Carolina.

Differentiator

Problem solved

Functional benefit

Products and services

• SBA 7(a) Loan Program Variable rate SBA loan guaranty financing for South Carolina small businesses, offering loan amounts from $100,000 to $5 million with up to 25-year amortization. Suitable for land and building purchases, manufacturing equipment, business acquisitions, leasehold improvements, startup businesses, and financing closing costs. Features limited collateral requirements and serves as an alternative financing solution.
• SBA 504 Loan (Debenture) Program Fixed-rate long-term financing for South Carolina businesses and portions of Georgia and North Carolina. Provides up to 90% financing for major fixed assets including owner-occupied real estate and long-term equipment. Debenture amounts range from $100,000 to $5 million (up to $5.5 million for manufacturers), with up to 25-year amortization for real estate and 10 years for equipment. Used for construction or renovation, purchase of land and buildings, manufacturing equipment, and refinance.
• SSBCI Loan Participation Program State Small Business Credit Initiative loan participation program that enables small businesses to obtain financing at competitive terms with reduced risk for lenders. Features participations of $50,000 to $1,000,000, loans of $20 million or less, 5% down payment option, up to 25-year amortization, credit enhancement, and fast turnaround. The BDC participation is subordinated to the lender in the event of default. Used for owner-occupied real estate, manufacturing equipment, term loan financing, and interim construction loans.
• SC Capital Access Program (SC CAP) Reserve fund-based program for very small South Carolina for-profit businesses, providing financial institutions a flexible tool to make loans of $100,000 or less (plus fees) that are considered higher risk than conventional loans. Eligible borrowers include retailers and service businesses with $2 million or less in annual sales and wholesalers with $5 million or less in annual sales.
• Energy Efficiency Revolving Loan (EERL) Energy efficiency loan program administered by BDC through the South Carolina Energy Office to encourage energy efficient upgrades that reduce electric consumption. Offers terms up to 10 years, minimum loan of $50,000, maximum generally $1 million, with fixed or floating interest rates determined on a transaction basis.
• Second Look Program Program allowing small to medium-sized businesses that have been declined financing by a bank to receive a second review of their loan request. BDC analyzes the loan, reviews the bank's underwriting, and may arrange technical assistance or process the loan if approved.

Quantifiable outcome

• Over $2 billion invested in South Carolina businesses via 3,335 small business loans
• +1 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

16 partnerships are on record, tiered core and minor.

• Small Business Administration (SBA)coreStrategic or Co-development PartnerBDC is authorized by the SBA to make 7(a) loans and provides SBA 504 loans through its associated company Certified Development Corporation (CDC). SBA guarantees reduce lender risk and enable favorable loan terms for borrowers.
• State Small Business Credit Initiative (SSBCI)coreStrategic or Co-development PartnerBDC administers the SSBCI Loan Participation Program for South Carolina, purchasing loan participations from banks to enable lower down payments and more favorable terms for borrowers.
• South Carolina Energy OfficeminorStrategic or Co-development PartnerThe Energy Efficiency Revolving Loan (EERL) program was established through the South Carolina Energy Office and is administered by BDC to encourage energy efficient upgrades.
• First Community BankcoreChannel Partner/ Reseller/ DistributorTop performing member bank partner. Won multiple awards including Top SSBCI Lender, Top SBA 7(a) Lender, Top SBA 504 Lender, and Banker of the Year awards.
• First Citizens BankcoreChannel Partner/ Reseller/ DistributorMajor member bank partner, winner of SC CAP Top Participating Lender awards multiple years.
• SouthState BankcoreChannel Partner/ Reseller/ DistributorLeading member bank partner with multiple SBA 504 and SSBCI lending awards.
• First Reliance BankcoreChannel Partner/ Reseller/ DistributorTop SBA 7(a) lender award winner, partner since at least 2018.
• Southern First BankcoreChannel Partner/ Reseller/ DistributorAward-winning member bank partner, winner of Greatest Number of SBA 7(a) Loans Approved award.
• United BankcoreChannel Partner/ Reseller/ DistributorMember bank partner, winner of Greatest Number of SBA 504 Loans Approved award.
• First Palmetto BankminorChannel Partner/ Reseller/ DistributorMember bank partner represented on BDC Board of Directors.
• Coastal Carolina National BankminorChannel Partner/ Reseller/ DistributorMember bank partner, winner of Greatest Number of SBA 504 Loans Approved award in 2018.
• VentureSouthminorChannel Partner/ Reseller/ DistributorMember bank partner, represented on BDC Board with Charlie Banks as board member.
• TruistminorChannel Partner/ Reseller/ DistributorMember bank partner, represented on BDC Board with Alex Brame as board member.
• Ameris BankminorChannel Partner/ Reseller/ DistributorMember bank partner listed among 30+ banking partners.
• Optus BankminorChannel Partner/ Reseller/ DistributorMember bank partner, represented on BDC Board with Benita Lefft as board member.
• SSBCI Participating Financial InstitutionscoreChannel Partner/ Reseller/ Distributor35 participating banks including Ameris Bank, First Citizens Bank, Coastal Carolina National Bank, and others that originate SSBCI loans partnered with BDC.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• LiftFund: LiftFund is a Texas-headquartered CDFI providing SBA 7(a), 504, and microloans across the southern U.S. with similar focus on underserved and minority-owned small businesses. Direct peer of BDC given overlapping SBA programs, southern U.S. footprint, and CDFI-led mission lending model.
• Carolina Small Business Development Fund: Carolina Small Business Development Fund is a North Carolina-based CDFI providing small business loans and technical assistance across the Carolinas. It is a direct peer of BDC in mission (community-development small-business lending), geography (adjacent SE markets), and product set (SBA-backed and flexible small-business loans).
• Kentucky Highlands Investment Corporation: Kentucky Highlands is one of the oldest U.S. CDFIs, providing small business loans and SBA-backed financing across Appalachian Kentucky. Direct peer of BDC as a long-tenured, mission-driven, rural/small-market small-business lender with comparable CDFI certification and SBA program administration.
• CDC Small Business Finance: CDC Small Business Finance is a California-based Certified Development Company and one of the largest SBA 504 lenders in the U.S. It is a direct peer of BDC, operating the same SBA 504 model with member-bank participation, but at materially larger scale and across multiple western states.
• Coastal Enterprises Inc. (CEI): CEI is a Maine-based CDFI providing SBA loans, small business financing, and community development capital across rural and underserved markets. Direct peer of BDC given the CDFI-led small-business lending focus, though CEI operates primarily in the Northeast rather than the Southeast.
• Capital Plus Financial: Capital Plus Financial is a Texas-based CDFI specializing in SBA 504 and community development lending. It is a direct peer of BDC given comparable SBA 504 origination focus, CDFI certification, and small-team operating model serving underbanked markets.
• TruFund Financial Services: TruFund is a multi-state CDFI focused on small business lending in underserved communities, including SBA and SSBCI-backed programs. Direct peer of BDC in CDFI-led SBA lending, mission-driven small-business finance, and SSBCI deployment strategy.
• Florida First Capital Finance Corporation: Florida First Capital is a Florida-based CDC administering SBA 504 loans statewide, with a structure and member-bank model closely paralleling BDC's Certified Development Corporation. Direct peer of BDC in SBA 504 delivery, CDC-as-non-profit structure, and state-level government sponsorship.

Others

• National Association of Development Companies (NADCO): NADCO is the national trade association representing Certified Development Companies that deliver SBA 504 loans. It is an ecosystem peer of BDC, shaping SBA 504 policy and providing training/advocacy rather than directly competing for originations.

Broad incumbents

• Community Reinvestment Fund USA (CRF): CRF is a national, large-balance-sheet CDFI providing small business, community development, and SBA lending across multiple states. It is a broad incumbent peer of BDC in mission and product mix but operates at materially greater scale and geographic breadth than BDC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Business Development Corporation of SC