Certified Development Company (CDC) Annual Report Guide

CDCs are required to submit an Annual Report on their operations to SBA. (13 CFR, §§ 120.826 and 120.830). All reports are to be prepared in accordance with these regulations, SOP 50 10, and the instructions set forth in this guide. This report is required to ensure that the CDC is in compliance with SBA’s Loan Program Requirements.



CDCs may include, along with the Annual Report, a request for renewal of their Accredited Lender Program (ALP) or Premier Certified Lender Program (PCLP) status (if applicable). If the CDC chooses to include a renewal request in its Annual Report, the CDC must clearly indicate in its Annual Report that a renewal request is included. Any status renewal request submitted along with a CDC’s Annual Report must meet SBA’s Loan Program Requirements for the status request. CDCs are reminded to refer to ALP/PCLP guidance in SOP 50 10 when preparing their renewal requests. Office of Credit Risk Management (OCRM) staff, when reviewing either the Annual Report or the status renewal request, may ask for updated information as needed to complete the review. Initial requests for Priority Status, ALP status, PCLP authority, a Local Economic Area (LEA) Expansion, or a Multi-state Expansion should not be included in the Annual Report and must be sent separately according to the instructions set forth in SOP 50 10.



Submission Requirements: CDCs are requested to submit the Annual Reports to their Lead District Office electronically via email with a copy to OCRM at CDCAnnualReports@sba.gov. (CDCs submitting hard copies of their Annual Report do not need to provide a copy to CDCAnnualReports@sba.gov.) CDCs should note that the size limitation on SBA email boxes is 10MB. If the electronic file is larger than 10MB, you may need to separate the electronic file into multiple attachments.



CDCs also have the option of submitting their Annual Reports through the Corporate Governance Repository located on the Capital Access Financial System (CAFS) (https://caweb.sba.gov/cls/dsp_login.cfm) under the CDC Online function. Use of the Corporate Governance Repository will avoid email size limitations. CDCs using the Corporate Governance Repository to submit their Annual Reports will need to submit any ALP or PCLP renewal requests separately.



In order to ensure uniform and comparable data by all CDCs, the Annual Report has been designed to standardize reporting requirements. CDCs should report on every item within each Tab of the guide (items or tabs without information being reported should state “N/A”). Both electronic and hard-copy submissions should be organized with tabs that correspond with the tabs indicated in this guide. (The Corporate Governance Repository requires the items in each tab to be uploaded document-by-document.) CDCs that choose to submit hard copies of their Annual Report must use only 8.5 by 11-inch paper and must provide their original Annual Report, plus one copy of the report to their Lead District Office. The Lead District Office will forward one hard copy of the Annual Report to OCRM and retain the other hard copy of the Report for their records. The CDC’s Lead District Office can be found at www.SBA.gov.



The Annual Report, whether submitted electronically or as a hard copy, must include all of the required documents, signatures and attachments and comply with the instructions set forth in this guide. CDCs may use the Corporate Governance Repository to upload some of the documents required for the Annual Report, even if the CDC elects not to submit the entire Annual Report using the Corporate Governance Repository. Documents that have been uploaded to the Corporate Governance Repository do not need to be resubmitted if the CDC elects to file the Annual Report by email or hard copy. Instead, the CDC must list in the email or hard copy of the Annual Report all of the documents that have been uploaded to the Corporate Governance Repository and the date of availability.



Timing: The Annual Report must be filed with the CDC’s Lead District Office within 180 calendar days after the end of the CDC’s fiscal year; although CDCs are requested to submit their Annual Reports sooner if possible. A CDC that is certified by SBA within 6 months of the CDC’s fiscal year-end is not required to submit an Annual Report for that year.

Incomplete or unacceptable reports will be returned to the CDC and the CDC will be considered to have not fulfilled the requirement. If a CDC does not submit its Annual Report in a timely manner, this will be reported to OCRM for potential supervisory or enforcement actions.



Incomplete or unacceptable reports will be returned to the CDC and the CDC will be considered to have not fulfilled the requirement. If a CDC does not submit its Annual Report in a timely manner, this will be reported to OCRM for potential supervisory or enforcement actions.