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South Carolina Community Loan Fund
Pre-Application Form

South Carolina Community Loan Fund (SCCLF) is an Equal Opportunity Lender.
We do not discriminate on the basis of race, color, religion, sex, marital status, disability, age, or national origin.

South Carolina Community Loan Fund
Please have handy your Business Tax ID Number, monthly business revenues, expenses, total assets and total liabilities. Also be prepared to upload documents if you have them such as your business plan, financials, projections and tax forms.

Applicant Eligibility Requirements

SCCLF has established minimum eligibility requirements to ensure SCCLF serves its mission while maintaining a quality loan portfolio. Lending Staff will first screen loan requests for the following criteria that must be met to be eligible to apply for a loan:


Ineligible Criteria

  • A financial business primarily engaged in the business of lending;

  • A passive business owner structure;

  • Any activity that is illegal under Federal, State, or local law;

  • The promotion and sale of illicit drug use of any kind;

  • A pyramid sale distribution plan;

  • A business that derives directly or indirectly more than 5% of its gross revenue through the sale of products or services or the presentation of any depiction or displays of a prurient sexual nature

  • A speculative business

Eligible Criteria

  • The business applicant must be a nonprofit organization, for-profit business or government agency.

  • Out-of-state businesses seeking capital from SCCLF must be used for the target market/investment area.

  • Business and/or individual applicants must not have outstanding liens or judgments not currently on a repayment plan.

  • Business and/or individual applicants under bankruptcy filing must not have filed for bankruptcy in the last 24 months and/or be current on a repayment plan.

  • Business and/or individual applicants must be current on all federal, state and local tax obligations or are currently on an executed tax repayment plan.

  • Individual applicants must be at least 18 years of age.

  • Individual applicants must be located within the United States.

  • Individual applicants with child support obligations must be current on child support payments or on an executed repayment plan agreement.

Qualifying Questions


Please see the expanded definition of what SCCLF considers an adult industry:
Gaming enterprises
Alcohol (where sales contribute to these items more than 50%)
Tobacco or e-cigarettes businesses
Businesses promoting drug use
Projects engaged in any risky or illegal activity
Thank you for your interest, but unfortunately you do not qualify for a loan.
Business Information











Borrower Information










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Business Profile






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Please use current market value of assets free and clear that could be used towards the business loan. This includes accounts receivable.

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Funding Information

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Business Uses of Loan
Please provide a summary of what the capital requested will be used for. The total uses should equal the loan amount requested. 



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Please ensure that the total amount you have entered for Business Uses equals the amount you requested at the top of the page.
Collateral
It is SCCLF’s policy to make loans that are secured by verifiable collateral. Security for loans may include but is not limited to the following: 
  • Real estate with an LTV (Loan-to-Value) ratio of 80 
  • Cash and cash equivalents 


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Documents
If SCCLF moves forward with your loan application, we will require supporting documents such as tax returns, business plans, etc. An exact list will be provided to you once your submission is reviewed.
Authorization

By submitting this loan application, I/we authorize [South Carolina Community Loan Fund] ("SCCLF") and its agents or affiliates to obtain and review my/our credit report(s) and other relevant financial information from one or more consumer reporting agencies or other sources as needed to process this loan request.

I/we understand that this credit inquiry is a necessary part of the application process and will be used solely to evaluate my/our eligibility for financing. I/we further acknowledge that additional credit checks may be conducted throughout the loan review process and, if approved, during the term of the loan.

I/we certify that the information provided in this application is true and complete to the best of my/our knowledge and authorize SCCLF to verify any information contained in this application.


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