SSBCI Loan Participation Program is sponsored by Business Development Corporation (BDC). Offers small businesses in South Carolina access to short to long-term financing to support growth and expansion.

SSBCI Loan Participation Program for Small Businesses – JEDA Moving South Carolina Forward Industrial Revenue Bond Program State Small Business Credit Initiative (SSBCI) Program Moving South Carolina Forward Industrial Revenue Bond Program State Small Business Credit Initiative (SSBCI) Program SSBCI Loan Participation Program for Small Businesses Helping Small Businesses Grow, Expand and Create Jobs in SC The SSBCI Loan Participation Program enables small businesses in South Carolina to obtain short to long-term financing to help businesses grow and expand, ultimately creating and retaining jobs in South Carolina.

By partnering with financial institutions, this program provides small business loans at attractive terms while reducing the risk for the lender.

SSBCI Loan Participation Program Benefits PROCEEDS TO BE USED FOR A BUSINESS LOCATED IN SOUTH CAROLINA SSBCI Loan Participation Program Overview Qualifying Borrowers Program is designed to target for-profit businesses with 500 or fewer employees and whose loan request is $5 million or less on average. Borrowers that have more than 750 employees, and loans that exceed a principal amount of $20,000,000, are not eligible.

Borrower Equity Requirement Minimum of 5% Minimum BDC Participation Amount $50,000 Maximum BDC Participation Amount $1,000,000 Maximum Participation Percentage The majority of loans will fall in the 10%-25% range, although an amount of up to 49% is allowable.

Eligible Loan Purposes Term loans, in which proceeds must be used for an eligible business purpose, including but not limited to the purchase of owner-occupied (non-passive) real estate, and equipment. Short-term loans for construction, interim or bridge financing.

Ineligible Loan Purposes Passive real estate investment, speculative activities, repayment of delinquent taxes, purchase ownership interest in a business, gambling, pyramid sales, payment of dividend or other distribution, and activities prohibited by Federal or State law. Maximum Loan Term Up to 25-year amortizations. Interest Rate/Fees Rates are determined by the bank lender, subject to BDC concurrence.

Any fees charged by the bank lender (application, origination, documentation, construction, other) will be shared with BDC on a pro rata basis. No other program fees will be charged to the borrower. Personal Guaranty All owners of 20% or more of the business must provide a personal guaranty.

“Access to capital has empowered small businesses across our state to open, expand and to put more people to work. These critical funds have provided a powerful reason for banks to lend to stimulate job creation in South Carolina.

” – Harry Huntley, Executive Director, SCJEDA SSBCI Loans are Available Through Your Bank All SC SSBCI Loan Participation Program loan applications must be originated through a participating bank, which allows for a quick response to a loan request with flexible, local loan decisions. Contact your bank today to get started.

Participating Banks in South Carolina: Coastal Carolina National Bank First National Bank of SC For more information about the SSBCI program, contact BDC at www. BDCofSC. org or call (803) 798-4064 or contact JEDA at www.

scjeda. com or call (803) 737-0268. Industrial Revenue Bond Program JEDA IRB APPLICATION (PDF) POST-ISSUANCE COMPLIANCE & CONTINUING DISCLOSURE PROCEDURES FOR BORROWERS TAX EXEMPT BONDS - POST ISSUANCE COMPLIANCE