Municipalities

Revolving loan programs offered through certain municipalities lend money to qualifying small businesses within the area. The goals of such loan programs are to foster economic development and improve the number and caliber of job opportunities in the city. They generally offer assistance to start-up and existing businesses for expansion, creation or retention of jobs, and assistance in the redevelopment of commercial corridors and the elimination of blight. Assistance for Small and Minority/Women Owned Businesses and businesses located in priority development areas are also available in most cities.

Here are the links for loan programs in respective cities (click on each picture to direct you to the site):

The Breakdown

Loan programs offered through municipalities vary from city to city; however, this is a great option to look into to if your business qualities. (The qualifications for each city/ county varies click on each link to discover more about the loans offered through the cities listed below)

Pros

Interest rates vary, but they are generally below market rates
Foster economic development
Loans can range up to $20,000

Cons

Risk of businesses not qualifying for loan(s)
Eligibility for loans in each city varies

City of Greenville

City of Charleston

City of Columbia