LEAP Forward Loan
The LEAP Forward Loan was created because SCCLF recognized the need for ongoing support for LEAP graduates. After the 10-week course, many LEAP graduates are ready to take the next step in their business, often gaining more capital to grow. This loan is an exclusive opportunity tailored for alumni, providing accessible capital with favorable terms.
The LEAP Forward Loan offers flexible financing for LEAP program graduates ready to take their businesses to the next level. Designed specifically for small business owners, this loan provides capital to support expansion, equipment purchases, and operational growth.
LEAP Forward Loan:
Key Features
- Loan Terms: Up to 3 years
- Interest Rate: 10%
- Credit Score: No minimum requirement
- Origination Fee: 2%
- Personal Guarantee: Required
- Collateral: Secured by business assets
Required Documents
- Prior year and year-to-date profit and loss statements
- Prior year and year-to-date balance sheet
- Personal financial statement
- Debt schedule
- Sources and uses statement
- Most recent tax returns
- $25 credit report fee
Why Consider a LEAP Forward Loan?
- Accessible Capital: With no minimum credit score, the LEAP Forward Loan is designed to be accessible to a broader range of entrepreneurs who may face barriers to traditional financing.
- Technical Support: Throughout the process, borrowers receive one-on-one assistance and technical support from loan officers, ensuring they have the guidance needed to succeed.
- Community Impact: By advancing equitable access to capital, the LEAP Forward Loan creates thriving, economically resilient communities across South Carolina.
- Favorable Terms: The loan offers a reasonable interest rate and a term length that allows small business owners to manage repayments without undue stress.
With personalized support and competitive loan terms, the LEAP Forward Loan ensures that entrepreneurs have the necessary resources to succeed.
LEAP Portal
The Local Entrepreneur Acceleration Program (LEAP) empowers South Carolina’s entrepreneurs with the tools and resources to grow their businesses.
LEAP participants and alumni can log in below to access course information and more.
OUR PORTAL IS COMING SOON.