We are pleased to announce twelve banks are currently enrolled in SC CAP. They are Ameris Bank, Bank of Clarendon, BB&T, Community Resource Bank, Congaree State Bank, First Citizens Bank, First Community Bank, First Federal of Charleston, Harbor National Bank, NBSC, SCB&T and SCB&T of the Piedmont. These banks have collectively contributed to 43 loans totaling $2,023,953 that may not have otherwise been approved for financing. Without this type of financing, start-up and small business entrepreneurs across our state may not have been able to fulfill their dreams of owning their own business. We encourage other banks, who have not yet enrolled, to consider doing so.

 

SC CAP uses a small amount of public resources to generate a large amount of private financing to many small businesses. The program is designed to provide financial institutions operating in South Carolina a flexible tool to make business loans that do not meet conventional underwriting standards. The financial institution solely makes its own credit decisions, sets its own underwriting standards, uses its own note, mortgage, and any other closing documents necessary to complete the transaction.

 

To learn more about SC CAP and how your bank can benefit from the program, click here to visit our website, or contact George Crouch at (803) 744-0312. Also, be on the lookout for our SC CAP Education Seminar in early 2008. We promise it will be worthwhile!