The SC Capital Access Program (SC CAP) lending program is designed to provide financial institutions operating in South Carolina a flexible and non-bureaucratic tool to make business loans that are considered more risky than conventional loans.
Designed for financial institution use--for the benefit of their borrowers, the SC CAP program is ideal for lenders with loan requests from small, for-profit businesses that need a quick and nonbureaucratic loan for $100,000 or less. This flexible lending program empowers small businesses to grow and expand, which ultimately provides more jobs and better economic conditions in South Carolina.
The SC CAP program utilizes a reserve fund concept, which allows financial institutions the ability to make business loans that are considered higher risk than conventional loans and that may not meet conventional underwriting standards.
The SC CAP program is simple, fast and flexible, without any input from BDC or the State.
Businesses that may qualify for this loan program are entities that carry on a business activity for profit in South Carolina, including: