Multi-State CDC Law and Legal Definition

According to 13 CFR 120.802 [Title 13 -- Business Credit and Assistance; Chapter I -- Small Business Administration; Part 120 -- Business Loans; Subpart H -- Development Company Loan Program (504)], Multi-State CDC is “a CDC that is incorporated in one State and is authorized by SBA to operate as a CDC (Certified Development Company) in a State contiguous to its State of incorporation beyond any contiguous Local Economic Areas.”