Small businesses help drive our local economies, create jobs, and are vital to building economically resilient communities in South Carolina. Community business lending is one of the four focus areas for SCCLF for this very reason. Here are five things to know about community business in SC, and how SCCLF is working to support these borrowers:
- More than 743,000 South Carolinians work for small businesses.
- SC small businesses employ 47% of the state’s private sector workforce.
- The National Small Business Association reports a correlation between adequate financing for small businesses and job creation which has remained consistent for over 23 years.
- To date, SCCLF has financed 18 community businesses.
- To date, SCCLF has loaned over $4MM in community business financing.
Sources: US Small Business Administration, National Small Business Association 2016 Year End Report.
Learn more about our community business finance lending or apply for a loan here. Do you think you might need a little help before applying? Read about our technical assistance services. You can also read about our most recent community business borrower, Workshops at Howard Heights, here.
