Applying the Community Development Corporation (CDC) Concept to the Funding of Small Business in Today's Environment

Abstract

This paper explains the concept of the Community Development Corporation (CDC), the primary purpose of which is to help small businesses create jobs by providing initial funding along with technical and managerial advice in geographic areas that are economically depressed. A typical Community Development Corporation is used to demonstrate the actual operation of this concept in a rural environment focusing on the improvement of the Corporation's methodology of defining activities, operations, and flow charts. Adjustments in one of these activities precipitates significant improvements in other CDC operations and in the ability of a CDC-aided business to succeed over the long term.