South Carolina boasts a rich culture, delicious cuisine, and southern charm. It also attracts entrepreneurs due to the low costs of doing business within the state. Are you a business owner who operates within the Palmetto state? Or, are you considering launching your next venture there? Then, read through the funding options below. These business lonas and grants are only available to South Carolina businesses. Take a peek.
Department or Agency: South Carolina Department of Employment & Workforce
Loan or Grant title: SC CompTIA IWT Scholarship Program
The SC CompTIA IWT Scholarship Program is designed to help South Carolina businesses be more competitive by upskilling employees to be more technology-savvy. The program awards business scholarships for certified technology training in two areas: 1) A+ is a 16-week training that prepares workers for IT operations roles, and 2) Security+, is an 8-week program including one-on-one mentored learning and certification to manage IT infrastructure and cyber security at an organization. Each is valued at over $5,000 per worker. Eligible South Carolina businesses will have at least one full-time employee (not including the owner) who has been on staff for more than six months and has at least an average understanding of information technology. See the web guidelines for more details and supplemental business costs.
Department or Agency: South Carolina Research Authority (SCRA)
Loan or Grant title: SCRA Grant Funding
The South Carolina Research Authority supports entrepreneurs and technology startups by offering grants, coaching, and outside investment. A wide array of grants are available, but applicants must first be accepted as members of SCRA to be eligible to apply.
Department or Agency: South Carolina Jobs Economic Development Authority (JEDA)
Loan or Grant title: SSBCI Loan Participation Program
The State Small Business Credit Initiative Program (SSBCI) supports the growth and expansion of small businesses in South Carolina with short and long-term loans. For-profit businesses located in South Carolina are eligible if they have less than 500 employees. Grant awards are $5,000,000 or less and require borrowers to have at least a 5% equity stake in the business. Eligible uses for long-term loans include real estate purchases (owner-occupied only) and equipment. Short-term loans may be used for interim financing or construction. See the overview for more details. SSBCI loans are available at participating local banks.
Department or Agency: Office of Local Defense Community Cooperation – South Carolina Department of Employment and Workforce
Loan or Grant title: South Carolina Cybersecurity Assistance Program (SC-CAP)
The South Carolina Cybersecurity Assistance Program exists to help local defense contractors comply with DFARS 7012 and NIST 800-171 cybersecurity standards. The program is open to businesses operating in South Carolina for more than one year and that have four or more full-time employees. Applicants must also operate within the Department of Defense supply chain. The maximum award is $25,000 which must also cover the $3,000 program participation fee.
Department or Agency: South Carolina Community Loan Fund
Loan or Grant title: Small Business Loans
The South Carolina Community Loan Fund supports the funding needs of community businesses serving and employing low to moderate-income people in underserved communities in the state. For-profit, as well as nonprofit organizations and governments, are eligible to apply. Loans can be used for a variety of business needs including working capital, machinery, construction, renovation, site development, and property acquisition. Please complete the pre-application for more program information.
Department or Agency: South Carolina Community Loan Fund
Loan or Grant title: Healthy Food Retail Loans
The South Carolina Food Retail Loans promote access to healthy food products in underserved communities in the state. Nonprofit, government, and for-profit projects are encouraged to apply. Eligible projects for loans include grocery stores, corner stores, farmer’s markets, food hubs, and mobile markets selling healthy foods. Please complete the pre-application for more program information.
Apply here.
