Areas Served: City of Columbia
The City of Columbia’s Office of Business Opportunities Commerical Revolving Loan Fund (CRLF) is dedicated toward assisting businesses that are located within the city limits of Columbia.
These funds are used to facilitate the additional financing at low interest rates for small businesses that need to purchase or improve property, equipment, machinery, inventory, or just need working capital.
Primary Goals – To create permanent jobs and retain existing jobs for businesses located within the city limits of Columbia – To provide economic opportinities in Columbia’s small businesses, particularly those owned by women and minorities – To stimulate private lender participation to ensure that businesses obtain the required capital for start-up and expansion CRLF Program Criteria – Businesses must be located within the city limits of Columbia, South Carolina – Project must create at least one permanent job per $10,000 of CRLF funds loaned – CRLF funding must be matched with participatory lending from a private financial institution – Maximum loan amount cannot exceed one third of total project cost or $200,000 – The appiicant must demonstrate the ability to repay the CRLF loan and provide adequate collateral for securing the loan – Terms range up to a maximum of 25 years depending upon the purpose of the loan
Contact InformationCity of Columbia, South Carolina
Address: 1225 Lady Street, Suite 102
City: Columbia
State: South Carolina
Website:
http://columbia.sc.gov/index.cfm/development-gateway/community-development/business-loans/commercial-revolving-loan-fund/
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