Community Development Corporation of Marlboro County

  Revolving Loan Fund

Fact Sheet

1.   The loan you are applying for is a business loan only.

2.   The Maximum amount available is $5000.00, except in special circumstances.

3.   The loan is priced at a fixed annual percentage rate (APR) of 6%.

4.   The maximum loan term is twelve (12) months.

5.   There is no collateral/security requirement.

6.   There is a 200.00 application fee due at submission. There is a refund of $50.00 available if the loan request is denied.

7.   The following items MUST be submitted with the application:

a.   A completed Application For Business Loan

b.   A completed Personal Financial Statement

c.    A Business Plan (including balance sheet, profit and loss statement, historical data, and/or projected income statement).

8.   A credit report will be obtained and used as part of the loan review.

Additional information may be required due to nature of loan request and provided items.

For more information please contact us.