South Carolina Business Loans

Get access to revolving funds when you need it most

Ezra Cabrera

October 25, 2021

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Financing for Companies in South Carolina

Business Financing for Companies in South Carolina

South Carolina, the Palmetto State, has a unique and diverse economy. In the last decade South Carolina’s local economy has continued to grow, with thousands of companies and jobs expanding throughout the state. South Carolina is fortunate to have a talented workforce and an ideal geographic location to drive business. There are a multitude of industries scattered across the state, both large and small. The aerospace, manufacturing, biotechnology, tourism and transportation industries supply a sizeable portion of the state’s revenue.

Transportation Loans in South Carolina

Due to its geographical location the transportation industry continues to thrive. With its close vicinity to major cities such as Atlanta and Charlotte there are unique opportunities for business owners. South Carolina is home to one of the largest container ports in the country, the Port of Charleston. Truck financing, invoice factoring, and equipment financing in South Carolina are essential to the success of the transportation industry. The states proximity and location to major cities not only benefits the transportation industry but also the tourism and hospitality industry.

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Tourism and Hospitality Loans

Tourism and Hospitality Loans in South Carolina

With an abundance of beautiful shorelines and popular destinations like Charleston, Columbia, Myrtle Beach, and Hilton Head, the state’s economy thrives off tourism. Businesses use small business loans and hotel loans in South Carolina to balance the busy and slow seasons. With miles of shoreline across the state, the fishing industry also prospers. Shrimp, clams, crabs, oysters and snapper supply the bulk of the industry’s revenue. SMB Compass provides business loans in South Carolina to a wide range of industries to help continue to grow the local economy.

Aerospace, Automotive, and Biotechnology Loans in South Carolina

There are more than 100 companies in South Carolinas aerospace industry including major companies like Boeing. The industry provides over 15,000 jobs to the local economy. While the aerospace industry is crucial to the state’s economy, the automotive industry is equally as important. South Carolina is one of the top automotive manufacturers in the country and is a driving force in the states growing economy. As the local economy flourishes other industries continue to grow, most notably the biotechnology industry. The biotechnology and life sciences industry has continued to expand and play a significant role in the economy, with over 600 businesses is in the industry throughout the state. These industries use business loans in South Carolina to subsidize their growth and efficiently run their business.

SMB Compass has loan programs in South Carolina from $25,000 up to $100 million. SMB Compass specializes throughout South Carolina in equipment financing, SBA loans, asset-based loans, bridge loans, invoice factoring, and business lines of credit. Schedule a call with a Lending Advisor today to learn more about the business loan options in South Carolina.

Small Business Loans in South Carolina

South Carolina small loans

Here are the many ways to use a small business loan in South Carolina

Acquire a business

Refinance existing loans and credit card debt

Purchase or refinance commercial real estate

Buy or lease machinery and equipment

Purchase inventory and raw materials

Improve Cashflow

Marketing and advertising campaigns

Upgrade technology and business software

Renovate existing office space

Day to day operating expenses

Learn About Your Financing Options

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