Business Development Corp

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Business Development Corporation of SC (BDC) was established in 1958 by the South Carolina State Legislature to promote business and industry within the state. BDC is a non-bank commercial lending company specializing in the SBA 7(a) loan guaranty program.

CDC and BDC are associated non-bank commercial lending companies specializing in partnering with South Carolina banks to arrange small business financing for entrepreneurs, professionals, manufacturers and other qualifying small-businesses. BDC was created in 1958 and focuses on the SBA 7(a) loan guaranty program, the SC CAP program, SC SSBCI CAP program and SC SSBCI Loan Participation Program. CDC was founded in 1994 and focuses on the SBA 504 lending program.

In 1988, Bill joined BDC where he was Executive Vice President and Corporate Secretary, with primary responsibility for the loan making and portfolio management activities for the company. He is one of the founders of, and was President, Executive Director and Corporate Secretary for the Certified Development Corporation of SC (CDC), which was founded in 1992 as an associate of BDC.

BDC is a non-bank commercial lending company specializing in the U.S. Small Business Administration's 7(a) loan guaranty program and the State Small Business Credit Initiative (SSBCI). Created by the South Carolina Legislature in 1958 to help foster economic development and job creation, the BDC's board includes many of the state's leading community and commercial bankers, as two-thirds of its board is elected by its 40 member banks.

The SC Capital Access Program (SC CAP) lending program, which began in 2007, is designed to provide financial institutions operating in South Carolina a flexible and non-bureaucratic tool to make business loans that are considered more risky than conventional loans and that may not meet conventional underwriting standards. It uses a small amount of public resources to generate a large amount of private financing to many small businesses that might not otherwise be able to obtain conventional financing.

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