Helping businesses that are small, Expand and produce Work in SC
The SSBCI Loan Participation Program enables smaller businesses in sc to get quick to financing that is long-term assist organizations develop and expand, eventually creating and keeping jobs in sc. By partnering with banking institutions, the program provides business loans at competitive terms while reducing the danger for the financial institution and enabling borrowers to get attractive financing terms and reduced down repayments.
Quick to Long-Term Financing for Small Business development in sc.
SSBCI Loan Participation Program Overview. Qualifying not-for-profit entities are additionally qualified.
System was created to target businesses with 500 or less workers and whoever loan demand is ten dollars million or less.
Optimum BDC Participation Amount
$1,000,000 (exceptions may use).
Optimum Participation Portion
Eligible Loan Needs
Profits must be used for the continuing company function.
Ineligible Loan Purposes
Passive estate that is real, speculative tasks, gambling, pyramid product sales, tasks forbidden by Federal or State legislation.
Optimum Loan Term
As much as 20 amortizations year.
Dependant on lender, at the mercy of BDC concurrence. Read more