Economic Development: Small Business Loans

Areawide Development Corporation (ADC)

Areawide Development Corporation (ADC) is an affiliate to ETDD that was formed in 1981 to promote economic development through administration of business loan programs.

ADC administers the following programs: 
  • SBA 504 Loan Program
  • EDA Revolving Loan Fund

SBA 504 Loan Program: 

Funding for:
  • Acquisition, construction, or renovation of commercial real estate
  • Purchase of machinery / equipment


  • Owner-occupied, for-profit businesses
  • Tangible net-worth of $15 million or less
  • Average net-income after Federal income taxes for preceding two completed fiscal years of $5 million or less


Available Terms:
  • 10, 20, or 25 year
  • Fixed rate for life of loan


Financing Structure:
  • 50% private lender first mortgage
  • 10 – 20% borrower injection
  • Balance funded through the SBA 504 Program

EDA Revolving Loan Fund: 

Funding for:
  • Purchase, construction, or renovation of buildings for commercial or industrial use
  • Acquisition of machinery / equipment
  • Business start-ups
  • Working capital loans


  • For-profit businesses in eligible municipalities and counties in ETDD District
  • Must provide for creation and/or retention of jobs in those areas


Available Terms:
  • Up to 15 years
  • Fixed rate for life of loan


Financing Structure:
  • Up to 90% of project financing not exceeding $200,000