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SC State Small Company Credit Initiative (SSBCI) Loan Participation System

Helping Small Businesses Grow, Expand and produce Work in SC

The SSBCI Loan Participation Program allows small enterprises in sc to have quick to long-lasting funding to assist companies develop and expand, finally producing and keeping jobs in sc. This program provides small business loans at competitive terms while reducing the risk for the lender and allowing borrowers to receive attractive financing terms and lower down payments by partnering with financial institutions.

Brief to Long-Term Financing for Small Business development in sc.

SSBCI Loan Participation Program Overview. Qualifying entities that are not-for-profit additionally qualified.

System https://www.paydayloansnc.com/ was designed to target companies with 500 or less workers and whoever loan demand is ten dollars million or less.

Optimum BDC Participation Amount

$1,000,000 (exceptions may use).

Optimum Participation Portion

Eligible Loan Needs

Profits can be used for a continuing company function.

Ineligible Loan Needs

Passive estate that is real, speculative activities, gambling, pyramid product product sales, tasks forbidden by Federal or State legislation.

Optimum Loan Term

As much as 20 amortizations year.

Dependant on lender, at the mercy of BDC concurrence.

Type Of Participation

During the time of loan inception, lender and BDC to agree whether collateral mutually position will likely to be equal (pari-passu) or BDC subordinated to lender in the eventuality of standard.