Certified Development Companies (CDC), organized to assist this business segment, are catalysts to making the financing happen. They have professional staffs who work directly with businesses to develop a financing package that meets program guidelines and the credit criteria of the business. The CDC's role is to package, process, close and service the 504 Loan Program.

Debentures (bonds) are then issued by the CDCs and sold in the private bond market to fund the 504 portion of the financing. These bonds are fully guaranteed by the U.S. Small Business Administration.

The Lake County Small Business Assistance Corp. is a Certified Development Company authorized to process U.S. Small Business Administration 504 loans. The Lake County Small Business Assistance Corp. contracts with the Lake County Economic Development Center to perform this service.

All inquiries should be directed to:

Allen Weaver

Director

440-357-2290 ext. 29

LCEDC 504 Loan Program Guidelines