Business Financing

Funding Opportunities:

City of Charleston & Charleston LDC Small Business Relief Fund 

Supporting small, local, & minority-owned businesses. 

  • 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.
  • Applicants may begin the process of applying for a loan by contacting the Charleston LDC at info@charlestonldc.org or calling 843-973-7298.

BCDCOG CARES: Revolving Loan Funds

  • BCDCOG was awarded $560,000 in CARES Act funding. 1-year, interest-deferred and/or an interest-free loans ranging from $10,000-$100,000. 
  • Eligible businesses seeking assistance should operate in Berkeley, Charleston or Dorchester counties and provide evidence of revenue loss since the start of the COVID-19 pandemic. 
  • To begin the BCDCOG Cares Revolving Loan fund application process, please complete the informational form here: https://www.bcdcog.com/economic-development/bcdcog-cares/
  • Contact the loan administrator at (843) 529-2573 or melaniep@bcdcog.com for more information.

Additional Financing Resources:

Business Planning & Education Resources

Charleston Local Development Corporation (LDC)

Charleston Local Development Corporation (LDC) is a not-for-profit organization that lends money to small businesses in the following counties:

  • Berkeley
  • Charleston
  • Colleton
  • Dorchester
United States Small Business Administration

United States Small Business Administration provides guidance on starting and managing a business, financing and Federal contracting opportunities, and training programs.

South Carolina Community Loan Fund

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 Association for Economic Development

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.

COC

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.