LOAN OVERVIEW

Borrower: Market on Main of Lake View, LLC

Loan Amount: $75,000

Location: Lake View, SC – Dillon County

Project Type: Healthy Food Enterprise

 

SITUATION

Lake View was once a thriving small town that supported three small grocery stores. After some industry moved out over the last few years, they were left with a community in need of jobs and a food supply. Most residents have had to travel 10 miles or more to the nearest grocery store.

SOLUTION

Matthew Elvington decided to open a small grocery store in the heart of Lake View to provide the community with access to healthy food but he could not secure conventional financing for the project. Matthew attended one of South Carolina Community Loan Fund’s loan application workshops last year and worked with the Small Business Development Center to complete his business plan. We provided funding for the rehabilitation of a building for the grocery store as well as machinery, equipment and inventory.

IMPACT

A small full service grocery store will be locating in a low supermarket access area and a persistent poverty county. Market on Main will be the only business to offer fresh meat and produce within a 10 mile radius. The company will be hiring and serving low income individuals and the residents and surrounding communities will benefit from a place to purchase fresh food locally. Market on Main is committed to keeping prices low, and quality high.