Program areas at South Carolina Community Loan Fund
Scclf provides loans, generally up to $1,000,000, to finance acquisition, predevelopment, infrastructure, construction, renovation, leasehold improvements, machinery and equipment, working capital, and permanent financing business costs. Scclf finances the capital needs of Community businesses serving and employing low to moderate income individuals located in underserved South Carolina communities. In 2023, scclf made 7 loans totaling $3.3mm to small businesses located throughout the state.
In addition to lending, scclf provides technical assistance to borrowers and prospective borrowers in the form of one-on-one technical assistance and small business development workshops. In 2023, scclf awarded $168,500 of seed capital in the form of forgivable loans to 19 small businesses and scclf's Loan officers provided technical assistance to 48 individuals and businesses seeking capital for their projects.
Community facility (cf) scclf provides Community facility loans generally up to $1,000,000 to finance acquisition, pre-development, infrastructure, construction, rehabilitation, and permanent financing development costs. Scclf finances the construction and renovation of Community facilities including, but not limited to, recreation centers, day care centers, health care centers, senior centers, charter schools, homeless shelters, and transitional housing in underserved South Carolina communities. In 2023, scclf made 1 loans totaling $2.9mm to Community facilities located throughout the state.