The National Association of Development Companies (NADCO) is the trade association for the nation's Certified Development Companies (CDCs). Our members are non-profit organizations that have been certified by the U.S. Small Business Administration (SBA) to provide financing to small businesses through the SBA 504 loan program. SBA 504 loans allow business owners to buy, build or renovate commercial real estate. Financing options include the purchase and/or renovation of an existing building; the purchase of land and construction of a new building; and also the purchase of expensive equipment or machinery that requires long-term financing. Similar to a residential mortgage, SBA 504 loans are long term (either 10 or 20 years) and the interest rate is fixed for the term of the loan. Interest rates are competitive and usually lower than prime.