In 1981, the SEDA-COG Board of Directors became aware of the SBA 503 Development Company Program and helped form a free-standing 501c3 Tax Exempt Non-Profit Corporation called the SEDA-COG Local Development Corporation (LDC) which began to carry out the SBA 503 program (later to become the SBA 504 program) in 11 Counties in Central PA. In 1992, the SBA approved the expansion of the LDC’s territory to include seven additional Counties in South Central PA. In 1997, the LDC expanded again to serve 10 additional counties in North Central and North Eastern Pennsylvania and also expanded the board to incorporate representatives from these additional Counties bringing the total Counties served to 28.
Today, the SEDA-COG Local Development Corporation is a State-wide CDC serving all 67 Counties in Pennsylvania.
As of December 2022, the SEDA-COG Local Development Corporation has closed over 255 SBA 504 loans for a total of nearly $145 million to small businesses in Pennsylvania through the SBA 504 loan program.