East Carolina Development Company, Inc. (ECDC) is a Non-Profit Economic and Community Development organization.
ECDC makes low cost loans to small business owners who have been unable to obtain bank financing or who need to leverage bank financing. Our goals are to enhance economic development, create/save jobs, and entice banks to lend more money to small businesses by providing subordinate long-term financing.
Banks and other lending institutions have historically under served rural eastern North Carolina's communities. ECDC fills that void by providing low-cost loans with flexible repayment terms to new and expanding businesses that have been turned down by at least two banks. These loans have created or saved hundreds of jobs in rural eastern North Carolina.
ECDC covers an eleven county area in eastern North Carolina and is governed by a Board of Directors. The Board directs the organization's activities through its Executive Director.