SouthernCarolina Alliance
Microloan Program for Small Business
What is the Purpose of the Microloan Program?
To provide small loans to start-up, newly established, or growing small businesses.
Who is Eligible to Apply?

 A ny business wishing to establish a new operation or expand an existing operation in Allendale, Bamberg, Beaufort, Barnwell, Colleton, Hampton, or Jasper Counties.
How can These Funds be used?

Acquisition of land, buildings, and
fixed equipment

Site preparation, construction, and
reconstruction for non-speculative
projects

Installation of fixed equipment

Clearance, demolition, removal,
rehabilitation or construction of
buildings and improvements

Payment of assessments for sewer,
water, street, and other public
utilities, if the provision of the
facilities help business expand

Working Capital, which finances
short-term operating expenses.
Working capital will include training
expenses and some relocation
expenses

Inventory purchases, furniture,
fixtures, supplies

Natural disaster recovery

Downtown facade, historic
reinvestment, and streetscape
improvements

Micro financing

Short-term interim financing

Other Special Projects
How Much Can Be Borrowed?

$5,000 to 50,000
When can an Application be Submitted?

Anytime during the calendar year
What is the Interest Rate?
Prime plus one
Who do I contact for more information?
Microloan Program Manager
803.868.1252
1750 Jackson Street
Barnwell, South Carolina 29812
SouthernCarolina Regional Development Alliance
Phone 803.903.1155/Fax 803.868.1003
Email jsdempsey@southerncarolina.org
www.southerncarolina.org