Did you know that South Carolina is home to a wide variety of businesses? From small businesses to Fortune 500 companies, the Palmetto State has something to offer everyone. And thanks to Advancepoint Capital, getting a business loan in SC is easier than ever.
We understand that every business is unique, which is why we offer a variety of loan products that can be tailored to your specific needs. Whether you're looking for a short-term business loan in South Carolina or need money to grow your business, AdvancePoint Capital is here to help.
Get A Small Business Loan in South Carolina
Obtaining a small business loan in South Carolina is simple with AdvancePoint Capital. Our range of loan options can be customized to suit your unique requirements, ensuring you get the necessary financing without incurring excessive costs. Let us help you secure the funding you need to take your business to the next level.
Contact us today and let us show you how easy it is to get the money your business needs!
9 Best Loans for South Carolina Small Businesses (May 2023)
Small Business Loans
A variety a business loans and other funding alternatives are available with a simple an easy process from application to funding.
A SBA loan is a government back loan administered by the Small Business Administration that offers excellent rates and terms. The application process requires good credit and financial statements for approval but well worth the effort to apply.
Merchant Cash Advance
Businesses that their main source of revenue is credit card processing often turn to merchant cash advance when traditional business funding is not available. The advance application process is simple, easy, and quick approval.
Business Cash Advance
Business cash advance is based on revenue and an alternative to traditional financing. Easy application process and all types of credit considered. Repaid with a percentage of future sales providing flexibility in repayment.
Business Line of Credit
Business line of credit, like a credit card, is a revolving line in which you can draw funds as needed up to a credit limit. This product offers more flexibility than a term loan. Interest is paid based on the outstanding balance with no prepayment penalty.
Equipment financing comes in the form of a loan or a lease and is a popular product used by businesses heavily dependent on equipment. Equipment financing is affordable due to the duration of repayment which is 2 to 7 years.
If you are a business owner who invoice their clients, invoice financing may be the solution for you. Invoice factoring provides an advance off of invoice at time of issuance without waiting for the client to pay you over the normal terms.
Short Term Small Business Loans
Short term loans are an alternative to traditional business loans. Duration of repayment is typically between 6 to 24 months. More flexible with credit and higher approval rates and lower documentation than traditional financing. Application to funding can be the same day.
Long Term Business Loans
Long term financing is an option for businesses needing money for expansion. Good credit and documentation will be required for approval.
U.S. Small Business Administration
How to Grow Your Business in South Carolina
View the South Carolina Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, and contracting.
U.S. (SBA) U.S. Small Business Administration
South Carolina District Office
How Small Business Loans Can Help?
The most common reasons South Carolina business owners use business funding:
- Access to Working Capital Funds
- Equipment Purchase and Repair
- Access Capital for Inventory
- Business Plan Expansion
- Cash Flow shortages
- Access to Capital for Emergencies
- Advertising / Marketing / Customer Acquisition resources
- Create jobs, Recruitment of Employees and Training Resources
- General Business Purpose
Government Financing Programs, Covid-19 Relief Options and Grants in South Carolina
Business Development Corporation – SC State Small Business Credit Initiative (SSBCI) Loan Participation Program – The SSBCI Loan Participation Program enables small businesses in South Carolina to obtain short to long-term financing to help businesses grow and expand, ultimately creating and retaining jobs in South Carolina. By partnering with financial institutions, this program provides small business loans at competitive terms while reducing the lender’s risk and allowing borrowers to receive attractive financing terms and lower down payments.
SC State Small Business Credit Initiative (SSBCI) Loan Participation Program
South Carolina Department of Commerce – SBA Assistance During Coronavirus (COVID-19) – In response to a request from Governor Henry McMaster for a disaster declaration, the U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for South Carolina small businesses suffering substantial economic injury resulting from the Coronavirus (COVID-19). The disaster declaration makes SBA assistance available in the entire state of South Carolina.
South Carolina Department of Commerce – Access to Capital and Funding
LIFTFund – LIFTFund in South Carolina – LIFTFund is a non-profit organization that helps minorities and women business owners with limited access to capital have a chance to live their dreams. LiftFund provides small business loans and microloans for startups and established businesses in South Carolina. This non-profit organization offers small business loans up to $1 million, startup loans up to $50,000, COVID-19 assistance, and business financial training.
Why AdvancePoint Capital?
- Experience with Businesses in South Carolina – We have been providing financing in South Carolina for years.
- Trust – Excellent reviews and feedback from South Carolina small business owners.
- Loan Specialists – Experienced business funding specialists.
- No Obligation – No cost, no commitment quotes.
- Products – A variety of business loan programs for small business owners in South Carolina.
Apply for South Carolina Business Loans Today!
Getting a financing solution or financial advice in South Carolina can be troublesome. At AdvancePoint Capital, applying for a business loan is fast and easy with our simple application process. All you need to do is fill out our online form, and application page, and in just a few hours — you’re well on your way to getting yourself a business loan in South Carolina.
Get Started Today
AdvancePoint Capital makes the loan application process a simple, straightforward experience.