The CDC Small Business Finance is a not-for-profit organization with headquarters in San Diego, California, which offers financing solutions to small businesses. Since it was founded in 1978 by Arthur H. Goodman, the company has provided over $4 billion in loans (as of August 2015) to small businesses, with a special emphasis on businesses owned by women, members of minorities and veterans.

How Does CDC Small Business Finance Work?

Business owners must first choose the type of loan they need. CDC Small Business Finance offers loans to purchase equipment, real estate, working capital and tenant improvements. They then must complete an online form that requests personal and business information to ensure you meet CDC Small Business Finance's eligibility guidelines. The form takes approximately five minutes to complete. Within one business day a loan expert will contact you and explain what options you have available.

What Are The Interest Rates?

Interest rates are mostly set by the Small Business Administration. As of December 2014, the rates for SBA-504 loans, which are used for real estate and large equipment purchases are 7.6% and 6.6% for a 20- and a 10-year term, respectively. This includes the fees paid to the CDC and the SBA. The rate for SBA 7(a) loans, which can be used for working capital, real estate, business acquisition and mixed use, fluctuates based on the current LIBOR rate.

How Much Money Can I Borrow?

The SBA-7(a) loans range from $50,000 to $5 million. SBA-504 loans range from $125,000 to $20 million.

Which States Does CDC Small Business Finance Operate In?

The CDC Small Business Finance operates in California, Arizona and Nevada.

What Is the Application Process Like?

The application process involves a short online application to determine eligibility. Once a business is pre-approved a loan expert will call within the next business day to obtain further information. It generally takes a month to get a reply and another month until the money is finally deposited.

How Is CDC Small Business Finance Better than Other Lenders?

CDC Small Business Finance has preferred lender status, which allows it to approve loans without consulting with the SBA. The CDC has an excellent track record as a small business lender. From 1978 to 2013, CDC Small Business Finance provided $12.3 billion in capital to small businesses, which created 131,000 jobs. In 2013 alone, CDC provided $914 million in loans to 470 small businesses; and 34 percent of these loans were to women, minorities and veteran-owned businesses.

  • Loan Amount
    $50000 - $2000000
  • APR
    6.6% - 7.6%
  • Max Loan Term (Months)
  • Credit Score Range
    640 - 850
  • Minimum Revenue
  • Business Loan Type
    • Secured Term Loan
    • SBA Loan
  • Intended Use of Funds
    • Equipment Purchase
    • Lease Improvements
    • New Location
    • Product or Service Expansion
    • Working Capital
  • Institution Type
    Direct Lender
  • Approval Speed (Hours)
  • Funding Time
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0 votes

The loan process wasn't too bad and when all was said and done, I got the money I needed to start a new expansion within a week or so. Now my business is growing day by day and I am seeing a profit for the first time in months!

0 votes

I like CDC for my small business loans. They have really low interest rates, which is a huge factor for me. As a small business owner, I'm always looking for a bargain. CDC Small Business Finance offers some of the lowest rates I've seen and definitely delivered on their promises. The entire loan process was slightly confusing to me, but it got easier after the first loan I got with them. All in all, I think they are great for those on a budget.

0 votes

CDC small business financial is a joke! Customer service was more of a dis-service. The rates were not what they were lead on to be and it took sooooo much longer than advertised. I would not recommend this company unless you want to owe your own company by the end of the deal.

0 votes

I think CDC Small Business Finance is a solid company. I went to them for a small business loan to help expand my salon, and they truly were great to work with. I really needed the loan and they made it pretty easy. They were so helpful and polite, and definitely knew a lot about small businesses and loans for them. I'm also happy with the interest rate I received. They kept the fees low, and I didn't pay too much for my loan. I think they're great and would ... recommend them. More Less

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