SC State Small Company Credit Initiative (SSBCI) Loan Participation System
Helping businesses that are small, Expand and produce Work in SC
The SSBCI Loan Participation Program allows smaller businesses in sc to have brief to financing that is long-term assist companies develop and expand, fundamentally producing and keeping jobs in sc. By partnering with banking institutions, this system provides small company loans at competitive terms while reducing the danger for the financial institution and allowing borrowers to get attractive funding terms and reduced down repayments.
Quick to Long-Term Financing for Small Business development in sc.
SSBCI Loan Participation Program Overview. Qualifying entities that are not-for-profit also qualified.
System was designed to target companies with 500 or less workers and whoever loan demand is ten dollars million or less.
Maximum BDC Participation Amount
$1,000,000 (exceptions may use).
Optimum Participation Portion
Eligible Loan Needs
Profits is employed for the company purpose.
Ineligible Loan Needs
Passive estate that is real, speculative tasks, gambling, pyramid product sales, tasks forbidden by Federal or State legislation.
Optimum Loan Term
As much as 20 amortizations year.
Decided by lender, susceptible to BDC concurrence.
As A Type Of Participation
During the time of loan inception, loan provider and BDC to agree whether collateral mutually position will soon be equal (pari-passu) or BDC subordinated to lender in the eventuality of standard.