LOAN OVERVIEW

Borrower: Piecewise Coffee Company, LLC
Loan Amount: $118,459
Location: Cayce, SC
Project Type: Community Business

SITUATION

Lindsey and Stanton Scoma are the husband and wife team behind Piecewise Coffee Company, a new neighborhood coffee shop located in Cayce, South Carolina. State Street in Cayce’s River Arts District has been identified as a focus area for the City’s revitalization efforts and in a recent survey conducted by the City, local residents indicated strong demand for a neighborhood coffee shop. The Scomas found an ideal storefront in this neighborhood in the midst of revitalization, but they needed additional funding to renovate the space.

SOLUTION

As a start-up, the Scomas did not have the business experience necessary to be approved for a loan through a traditional financial institution. The couple consulted with the Small Business Development Center to develop their business plan, and were eventually referred to SCCLF as a potential lender. SCCLF’s lending team worked with the couple to ensure they were ready to borrow and were able to approve them for an $118,459 loan to complete the renovations. The Scomas anticipate opening Piecewise Coffee Company before the end of 2019.

IMPACT

PCC will create 10 new jobs for the local community, which is located in a South Carolina Opportunity Zone, over the next two years. The loan to Piecewise Coffee Company will allow the Scomas to turn their long-time dream of business ownership into a reality. They are striving to make Piecewise Coffee a place where everyone feels like part of the larger community, and envision the coffee shop serving “as a hub for people in the community to function together.”

Learn more about SCCLF’s Community Business lending program.