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SPOTLIGHT: S.C. Community Loan Fund

Staff Report //February 25, 2018//

SPOTLIGHT: S.C. Community Loan Fund

Staff Report //February 25, 2018//

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A Closer Look

2017 Top achievements:

Provided 16 loans that financed nine housing development projects, two healthy food enterprises, one community facility and four community businesses, creating or retaining 220 jobs, and providing a safe, affordable place to call home for 1,560 individuals and families.

Closed $6.7 million in loans for community development projects and approved an additional $5.7 million in financing before the beginning of the fourth quarter.

Secured $13 million in new equity and debt capital to finance community development projects throughout South Carolina.

Provided Technical Assistance (TA) and capacity-building services to 337 nonprofits, entrepreneurs and local governments.

Conducted a demand survey to help better understand the need for community development financing in our state. Survey results reveal a promising lending market with estimated loan requests for the next three years totaling $41.5 million.

2018 Goals:

Provide $10 million in loans to nonprofit organizations and for-profit businesses that face insurmountable odds in acquiring capital from traditional funding sources.

Support the expansion of the South Carolina Community Development Tax Credit, a unique tool that catalyzes private capital to transform and revitalize underserved communities from the inside out.

Fundraising events: 

SCCLF’s 2018 Summit in Columbia, Nov. 7-8, 2018, Columbia Metropolitan Convention Center. The two-day summit will take a holistic look at community and economic development in South Carolina, and seek to address the systemic barriers we face to building strong, equitable communities. Attendees will have the opportunity to choose from a mix of interactive and educational sessions focused on meeting the unique development and capital needs of South Carolina’s rural and diverse communities. The event will also highlight and provide an opportunity for attendees to get engaged in advocacy and policy change efforts happening around the state.

Corporate giving opportunities:

We accept donations, stock transfers,and in-kind gifts. Your support and donations help to transform lives and build strong communities.  For more information on how to support us, please visit www.sccommunityloanfund.org. All contributions and investments to SCCLF may qualify for a 33% S.C. Community Development Tax Credit. For more information, consult your financial adviser and review S.C. Schedule 14. 


Mission Statement

To advance equitable access to capital by providing loans, technical assistance and advocacy for affordable housing, healthy food, community facilities and community business enterprises.