Organization: SOUTHERN DEVELOPMENT COUNCIL
Mission: THE ORGANIZATION'S MISSION IS TO PROMOTE SMALL BUSINESS GROWTH AND DEVELOPMENT BY ASSISTING THEM WITH OBTAINING THE FINANCING THEY NEED IN ORDER TO ACHIEVE THAT GROWTH AND DEVELOPMENT INCLUDING JOB CREATION.
Activities: THE ORGANIZATION ASSISTS SMALL BUSINESSES IN OBTAINING FINANCING USING LOAN PROGRAMS OFFERED BY THE US SMALL BUSINESS ADMINISTRATION COMMONLY REFERRED TO AS THE SBA. THE ORGANIZATION ORIGINATES AND SUBSEQUENTLY SERVICES LOANS FOR THE SBA UNDER THEIR 504 PROGRAMS.
IN ADDITION TO THE SBA LOAN PROGRAMS, THE ORGANIZATION PROMOTES SMALL BUSINESS GROWTH AND DEVELOPMENT BY MAKING LOANS DIRECTLY TO SMALL BUSINESSES. UNDER CERTAIN CIRCUMSTANCES, THESE DIRECT LOANS ARE MADE IN CONJUNCTION WITH SBA LOANS AND ARE CONSIDERED "GAP" FINANCING. OTHER DIRECT LOANSARE MADE WHERE LOAN AMOUNTS NEEDED BY THE SMALL BUSINESSES ARE SMALLER OR SHORTER TERM OF WEHRE THE USE OF THE PROCEEDS IS MIXED (I.E. FIXED ASSET ACQUISITION OR WORKING CAPITAL) AND MAY NOT BE A CANDIDATE FOR TEH SBA 504 PROGRAM.
ONE OF THE ORGANIZATION'S PROGRAMS IS RELATED TO THE LOAN SERVICING PROCESS. THE ORGANIZATION RECEIVES MONTHLY SERVICING FEES ON ALL LOANS FUNDED BY THE SBA.
NTEE category: Community Improvement & Capacity Building
Secondary category: Mutual & Membership Benefit