SCALF loans from $50,000 to $250,000 can be used in conjunction with bank financing to help meet start-up and expanding agribusiness needs. A competitive interest rate, negotiable term, and decreased borrower equity injection can significantly lower overall debt service providing improved cash flow for the agribusiness.
The application process includes submitting projections, business financials, personal financial statements, and an outline of project costs. Business plans are required for start-up companies. Cash flow, credit history, and collateral will be considered in the loan review process.
Loan Program Information:
- Loan Amounts - $50,000-$250,000
- Maximum Loan Amount - 95% of total project costs up to $250,000
- Interest Rate - Fixed
- Origination Fee - Up to 1.5% of loan amount
- Term - Negotiable
- Legal Fees - Variable
- Prepayment Penalty - Up to 1.5% of loan amount
- Job Creation - One job created for every $90,000 loaned
- Uses - Building purchase/expansion, equipment, land, machinery, refinance, working capital
- Eligible Counties - Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Calhoun, Cherokee, Chester, Chesterfield, Clarendon, Colleton, Darlington, Dillon, Fairfield, Florence, Georgetown, Greenville, Hampton, Horry, Jasper, Kershaw, Lancaster, Lee, Marion, Marlboro, Oconee, Orangeburg, Pickens, Richland, Spartanburg, Sumter, Union, Williamsburg, and York
- Catawba Regional Business Loan Application