Loans, not grants.
Sometimes the right answer isn't a grant — it's a low-rate loan from a mission-driven lender. Every option below is a real capital partner serving South Carolina. All must be repaid. All were verified against the lender's own primary source before being listed here.
SBA Microloan Program — via SC Intermediaries
US Small Business Administration (SBA)
SBA Microloans up to $50,000 per borrower delivered through authorized nonprofit intermediary lenders. Max term 6 years. Aggregate outstanding debt to any single intermediary capped at $50,000. Intermediaries make credit decisions and set terms; SBA guarantees the underlying capital. Active SC intermediaries include CLIMBFund (Charleston, 843-973-7298) and Ascendus Inc. (866-245-0783).
OnCo Capital (Onward Community) — CDFI Small Business Loans
OnCo Capital (Onward Community)
Charleston-headquartered CDFI serving startups, first-time entrepreneurs, and thin-credit-profile borrowers. Startup tier: $10,000–$50,000. Growth tier: $50,000–$500,000 for operational growth, inventory, and expansion. Southeast priority (SC, NC, GA, FL, TN, AL, LA, MS, KY, VA, WV + IN); lends nationwide except MT, ND, SD, VT. Uses the Loan Mantra digital lending platform for faster decisions than traditional banks.
CommunityWorks Carolina — Microbusiness Loan
CommunityWorks Carolina
Statewide SC microbusiness loans from $10,001 to $50,000, terms up to 60 months, 8.75% fixed rate, 3% origination fee. Business must be operating for at least 1 year (startup applications under 2 years verified by tax returns are NOT currently accepted due to volume). Uses: equipment, inventory, lease improvements, energy efficiency/solar upgrades on owner-occupied commercial real estate, working capital.
SC Community Loan Fund — Community Business Lending
South Carolina Community Loan Fund
Statewide SC CDFI offering community business loans typically $10,000 to $500,000 (capacity up to $1,000,000, and beyond $3M with board approval). Below-market rates for qualifying borrowers. Focus on underserved, economically challenged, and rural SC communities. Uses include acquisition, predevelopment, infrastructure, construction, renovation, leasehold improvements, machinery + equipment, working capital, and permanent business financing. Rolling applications via loan inquiry form.
FSA Direct Farm Operating Microloan
USDA Farm Service Agency (FSA)
USDA Farm Service Agency direct microloan up to $50,000 per loan for farm operating expenses, startup, livestock, equipment, hoop houses, irrigation, and materials. Rolling year-round via local FSA County Office. Operating expenses generally due within 12 months or upon sale of commodities; equipment/livestock purchases up to 7 years. Beginning and veteran farmers get a lower interest rate cap. Simplified paperwork — only 1 year of financial and production records required (vs. 3 years for standard direct loans).