Minority or Small Businesses that meet the following criteria:
Employ 25 or fewer employees; Physically located in the State of South Carolina; In operation from October 13, 2019 to present; and Experienced a business impact due to COVID-1
Up to $40 million in grant funds are available to reimburse qualifying expenditures for providing services or revenue loss due to COVID-19. Grant awards will range from $2,500 to $25,000. Qualifying expenditures include:
Business staffing costs
Business operating costs
Personal Protective Equipment
The application window opens on October 19, 2020 and closes on November 1, 2020.
City of Charleston & Charleston LDC Small Business Relief Fund
The funds were authorized by the Coronavirus Aid, Relief, and Economic Security Act and distributed through the Department of Commerce Economic Development Administration. The City of Charleston, in partnership with the LDC, was awarded the $850,000 in lending capital as a supplement to an existing EDA revolving loan fund.
The $850,000 will be used to make initial loans, with a minimum of $10,000, maximum of $100,000, and 4% interest rate.
South Carolina Association for Economic Development (SCACED) is a coalition that supports the development of healthy and economically sustainable communities throughout South Carolina. The MicroBusiness Program provides capital to microentrepreneurs in underserved areas through a competitive grant program and delivers development services to help establish or expand microbusinesses.
South Carolina Community Loan Fund is a nonprofit organization that finances the capital needs of community businesses including, but not limited to, retail stores and service businesses, wholesalers, and small manufacturers serving and employing low to moderate-income individuals.
Chamber of Commerce is the go-to digital resource for small business owners and entrepreneurs, providing the guidance they need to start and run successful businesses. They research products, write reviews, and create in-depth guides and how-tos on topics like ideation, marketing, financing, accounting, and human resources.