Business Financing
United States Small Business Administration provides guidance on starting and managing a business, financing and Federal contracting opportunities, and training programs.
The CLIMB Fund is a not-for-profit Community Development Financial Institution (CDFI) serving the entire State of South Carolina. We offer several different small business loans and pre and post loan consulting. CLIMB Fund has more than 40 years of history lending to entrepreneurs who have been turned away by for-profit banks. There are numerous iconic local businesses we’ve helped start and grow.
CLIMB Fund does not have a maximum or minimum loan size but loan amounts tend to be between $10,000 - $250,000 with an average of $75,000. Interest rates do not exceed 12%.
Contact: Kate Polcha kate@climbfund.org
CommunityWorks offers financial coaching and a variety of loans:
- Micro-loans range up to $50,000
- Small business loans range up to $350,000
- Affordable Housing loans up to $1.5M
- Community Loans up to $250,000
Contact: Katy Davenport (843) 235-6331 Ext. 531, kdavenport@cwcarolina.org
South Carolina Community Loan Fund (SCCLF) provides loans to finance acquisition, predevelopment, infrastructure, construction, renovation, leasehold improvements, machinery and equipment, working capital, and permanent financing business costs.
Eligible projects include retail stores, service businesses, wholesalers, and small manufacturers.
Minimum Loan: $75,000 - Maximum: $3million. Free technical assistance.
Contact: Nathaniel Barber nate@sccommunityloanfund.org
Synovous is a full-service bank that provides
- SBA loans with a minimum of $350k
- 7a loan program – lines of credit and loans
- 504 loan program - real estate and equipment loans only.
- Conventional loans – minimum $10k lines of credit & loans.
Contact: Mark Raines markraines@synovus.com
Catawba Regional Development Corporation (CRDC) SBA 504 – Loan amounts from $50,000 -$5,500,000; fixed interest rate, 10/20/25 year terms. Can be used for land, building, building expansion, machinery, equipment, furniture & fixtures. Start-ups are difficult but are eligible for financing.
IRP Loan amounts from $50,000 - $250,000; fixed interest rate; flexible terms. Can be used for land, building, building expansion, machinery, equipment, furniture & fixtures.
Contact: Tyler Lewis tlewis@catawbacog.org (803) 985-9618
Provident Business Financial Services is a Certified Development Company (CDC), a nonprofit corporation that has offices in Charleston and Columbia and provides SBA 504 loans throughout South Carolina.
Provident is certified and regulated by the U.S. Small Business Administration and is South Carolina’s largest provider of SBA 504 commercial real estate loans in both loan volume and dollars lent.
A 504 loan can be used for various assets that promote business growth and job creation. These include purchasing, constructing, or improving existing buildings or land, new or existing facilities, long-term machinery and equipment, and other fixed assets.
Contact: David H. Harper dharper@providentbfs.com (843) 438-4860
At SouthState, we take pride in helping you reach your business and financial goals. Our committed team of small business professionals is there for you at every stage of small business ownership. From term loans and lines of credit to SBA loans, SouthState is ready to partner with you to provide the banking services and insight you need to take that next step forward in pursuing your dreams. Member FDIC.
Contact: Jessica Gongre Jessica.Gongre@southstatebank.com
Optus Bank offers various lending and credit products to help open doors for you, your business, and your other needs. From credit lines to small business loans, they are here to ensure that your needs are met with their financing solutions.
Products include :
- Small business loans
- Lines of credit
- Loans for real estate and equipment
- SBA lending programs
Contact: support@optus.bank (803) 733-8100
Beacon Community Bank is a Charleston-based community bank that offers both owner-occupied and investment real estate loans, loans for machinery and equipment, and revolving lines of credit.
Contact: Tom Owens Tom.owens@beacon.bank (843) 936-5178
TD Bank offers all types of small business loans which include:
- Commercial Real Estate Mortgages ($25,000 - $1,000,000)
- Lines of Credit ($10,000 - $500,000)
- Term Loans ($10,000 - $1,000,000)
- Express Leases ($5,000 - $1,000,000)
- Letters of Credit ($1,000 - $500,000)
- Health Care Term Loans/Lines of Credit & SBA Loans (7A, 504, Express, USDA) up to $350,000
TD also offers various types of business credit cards, overdraft protection, merchant services, treasury & payroll options.
Contact: Ross Lipman Ross.lipman@td.com (843) 762-7376
Grow Financial Federal Credit Union is a full-service credit union that provides commercial lending services (commercial real estate loans, equipment loans, and business lines of credit) up to $5 million. Additionally, we offer business credit cards, merchant services like payment processing solutions, payroll management services, and insurance to protect your business.
Contact: (843) 285-4424
United Bank is a generalist, and there is very little segmentation.
Credit facility types range from small equipment loans or operating lines of credit to $50MM type hotel or multifamily construction loans.
Merchant services partner with Heartland. Cash management: in-house cash management officer. Business credit cards: United provides cards underwritten by the Bank and not third-party cards.
Contact: Zackary Statler at zstatler@bankwithunited.com
Pinnacle Bank is a full-service bank offering small business lending, commercial lending, SBA lending, and credit cards. We also offer commercial and small business checking, savings, and money market accounts, consumer checking, savings, money market, and certificates of deposit accounts. Pinnacle offers residential mortgages, home equity lines of credit, consumer car loans, boat loans, and consumer lines of credit. Pinnacle Bank also provides Trust services, financial planning, and retirement services.
Contact: Jeff Odom Jeff.Odom@pnfp.com (843) 216-3087
Harvest Small Business Finance, LLC is a top 10 national non-bank PLP SBA real estate-only lender with a conventional product when SBA eligibility cannot be met. We’re located in California, where we were founded, and that is where our loan operations center is - with about 45 lenders nationwide. We lend when banks cannot and focus on loans that are either conventional denials or bank SBA department denials. We also lend on speed, which is a market advantage we have as a non-bank.
Contact: Kevin T. Blank kblank@harvestsbf.com (843) 973-0657
The BCDCOG Revolving Loan Fund (RLF) is a federally-initiated, state-backed program whose primary purpose is job creation and retention in the Berkeley-Charleston-Dorchester Region. The RLF was not established to compete with the banking community. It was established to provide gap financing, bridging the gap between what a bank can reasonably lend and what the business can provide in equity. It can also be utilized by businesses who have been denied bank financing. Loan uses include: Land, building construction, building expansion, machinery, equipment and working capital. Loan amounts: Range from $10K - $250K. Interest Rates: Fixed at, or near prime rate.
Contact: Susan Walker susanw@bcdcog.com 843-529-6301