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South Carolina Small Business Loans

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  • Get funds as fast as 24 hours
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By Erin Ryan Social Community Manager, Senior Writer and Editor at Fast Capital 360 Reviewed By Mike Lucas
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Loan Overview

  • Coins stacked on table with blue arrow pointing up
    Loan Amount Up to $500,000
  • Calendar image appearing as though the page is being flipped
    Estimated Repayment Terms 1-5 Years
  • Speedometer icon
    Interest Rate Starting at 7%
  • Dollar sign in circle
    Speed of Funding As fast as 1 day

Regardless of the industry you’re in, running a business in the Palmetto State takes dedication, but it also takes capital. Sometimes, an emergency expense catches you off guard or you need additional funds to take advantage of a business opportunity. When that’s the case, here are a few South Carolina small business loans and lenders to consider. Additionally, discover organizations you can turn to for help with your business venture.


South Carolina’s Small Business Landscape

There are more than 431,000 small businesses in South Carolina, according to the Small Business Administration (SBA). Additionally, these companies are responsible for employing approximately 817,000 workers in the state. 

Some of the top industries in the state include the following:

  • Aerospace
  • Agribusiness
  • Automotive 
  • Logistics
  • Manufacturing Technology

5 Banks for South Carolina Business Loans

Whether you’re in search of SBA South Carolina loans or another type of financing, here are a few lenders you can turn to.

1. United Community Bank

J.D. Power named United Community Bank as a top bank in the Southeast U.S. region for overall customer satisfaction. It’s also A+ rated with the Better Business Bureau (BBB) as well as earned a 3.5-star rating on SmartAsset. In addition to being a South Carolina SBA lender, this bank is a financing provider of business loans, lines of credit and U.S. Department of Agriculture (USDA) loans.

2. GrandSouth Bank

GrandSouth Bank has an A+ rating with the BBB. It’s also earned a 5-star WalletHub rating. Here you can find commercial loans and lines of credit. The bank notes it offers tailored funding programs and transition programs to provide entrepreneurs more favorable conventional financing structures.

3. Countybank

Countybank has been in operation for more than 85 years. It’s A+ rated with the BBB and has earned a 4.1-star rating on SmartAsset. If you’re in search of SBA loans in South Carolina, you can find them here as well as the following:

  • Fixed and variable rate loans
  • Business lines of credit
  • Business credit cards

4. South Atlantic Bank

South Atlantic Bank offers business loans and lines of credit. It has a 4.6-star rating on WalletHub. Additionally, Google reviewers have awarded the financial institution between 4.2 and 5 stars, depending on the branch.

5. Carolina Bank 

Carolina Bank has a 4.4-star Facebook rating as well as a 4.4-star WalletHub rating. South Carolina small business loans available here include the following:

  • Commercial real estate loans
  • Equipment or commercial vehicle loans
  • Operating lines of credit
  • Letters of credit
  • Agriculture land, equipment and production loans
  • Real estate construction and equipment loans

Alternative Financing Options in South Carolina

As another option, many small business owners today are looking to online nonbank lenders. While conventional lenders, such as the banks noted above, may be able to offer competitive rates and terms, the process to apply, be approved and receive funding can take some time. 

In contrast, online lenders are known to offer quick applications and approvals. They also have less stringent requirements in many cases. Electronic underwriting and alternative financing products, such as merchant cash advances, allow for faster options and more approvals. Applicants with these lenders can expect more frequent payment installments, shorter terms and higher interest rates. 

  • Applying for South Carolina Small Business Loans Through Fast Capital 360

    Whether you’re looking for SBA South Carolina loans or other financing options, we can assist you in funding your venture.  

    Here are just a few benefits of applying with Fast Capital 360:

    Speed

    Take a few minutes to complete our easy online application. If you qualify, you could receive funding within 1 day of approval. 

    Multiple Offers

    Because we work with lenders throughout the country, you could receive several funding offers. 

    Expert Guidance

    Once approved, review your offers with one of our Business Advisors. Choose the best option for your small business. 

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Additional Resources for Small Business Owners in South Carolina

As an entrepreneur, you could benefit from more than simply financial support. The following organizations are dedicated to helping small business owners, regardless of the stage they’re in.

SCORE 

SCORE is a nationwide nonprofit that offers free resources, tools and assistance to small business owners. These include:

  • Mentoring
  • Webinars
  • Networking opportunities
  • Educational articles
  • Informational videos

Locations are available here:

  • North Charleston
  • Myrtle Beach
  • Florence
  • Aiken
  • Augusta
  • Evans
  • Columbia
  • Greenville
  • Hilton Head Island
  • Beaufort

South Carolina Small Business Development Centers

Sponsored in part by the SBA, Small Business Development Centers (SBDC) offer entrepreneurs free advice and resources on business topics, including as the following:

  • Agribusiness
  • Cybersecurity
  • Exporting
  • Manufacturing
  • Recovery assistance
  • Government contracting

The South Carolina SBDC notes that in the past 5 years, it’s helped more than 31,400 entrepreneurs create more than 8,900 jobs. It’s also helped small business owners secure more than $167 million in government contracts. 

South Carolina Business One Stop

Based in Columbia, South Carolina Business One Stop offers resources for starting, operating and expanding a venture. It also offers support for businesses relocating to the state. Get help with the following and more:

  • Applications for licenses
  • Tax credits and withholding information
  • Business registrations and licenses
  • Unemployment insurance registration

One application. Multiple loan offers.

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