South Carolina Business Loans
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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.
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
Factoring for South Carolina Businesses
Commercial Real Estate Loan South Carolina
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
Marketing and advertising campaigns
Upgrade technology and business software
Renovate existing office space
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