Coastal Area District Development Authority, Inc. (CADDA) is a non-profit corporation whose mission is to provide economic development lending programs to small businesses and industries expanding or locating in Georgia, north Florida, and the low country of South Carolina to improve the economic conditions of the region through the creation and retention of jobs using our various loan programs.
CADDA was created in 1976 to administer a $5 million grant from the Economic Development Administration (EDA) that allowed a seafood processing plant to keep its operation in the community. The grant agreement and loan repayments created the first and largest rural Revolving Loan Fund (RLF) in the United States. As loans are repaid, the funds are loaned to other qualified businesses within a nine-county coastal Georgia service area.
In 1982, CADDA became a Certified Development Company (CDC) for the purpose of delivering the Small Business Administration (SBA) 504 Loan Program. The SBA 504 program provides long term, fixed rate, below market interest rates, and up to 90% financing of eligible fixed assets to expanding small businesses. In addition, CADDA is an SBA Community Advantage Lender and an SBA 7(a) loan packager.
Recognizing the need for more targeted lending in rural areas, CADDA added the United States Department of Agriculture Intermediary Relending Program (IRP) for eligible businesses in rural areas that may not be able to obtain credit through other sources.
In July 2020, CADDA was awarded a grant of $10 million, the largest in the southeastern United States, from the EDA to launch a loan fund to assist businesses impacted by the COVID-19 pandemic.
Helping small businesses grow and succeed is our business. We look forward to using our knowledge and experience to find the right financing opportunity for your business.