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SPOTLIGHT: SC Community Loan Fund

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A Closer Look

2018 Top achievements:

  • Provided six loans that financed two housing development projects, one community facility and three community businesses, creating or retaining 94 jobs, and providing a safe, affordable place to call home for 77 individuals and families.
  • Closed $6.5 million in loans for community development projects and approved an additional $7.6 million in financing before the beginning of the fourth quarter.
  • Provided Technical Assistance (TA) and capacity building services to 414 nonprofits, entrepreneurs and local governments.
  • Conducted a demand survey to help better understand the need for community development financing in our state. Survey results reveal a promising lending market with estimated loan requests for the next three years totaling $59 million.

Greatest need:

Impact Investments: Investments made into SCCLF generate a measurable, beneficial, social and environmental impact alongside a financial return. Investments with us are socially and fiscally responsible, are invested wisely, and offer SC-accredited investors a return of 2%.  Investments require minimums of $25,000 and a term of five years. Our investments come from financial institutions, foundations, religious institutions, government entities, businesses, and individuals seeking to make a positive social impact in our local community.

2019 Goals:

  • Provide $10 million in loans to nonprofit organizations and for-profit businesses that face insurmountable odds in acquiring capital from traditional funding sources.
  • Support the expansion of the South Carolina Community Development Tax Credit, a unique tool that catalyzes private capital to transform and revitalize underserved communities from the inside out. 

Fundraising events: 

SCCLF’s 2018 Summit in Columbia
Nov. 7-8, 2018, Columbia Metropolitan Convention Center

The two-day summit will take a holistic look at community and economic development in South Carolina, and seek to address the systemic barriers we face to building strong, equitable communities. Attendees will have the opportunity to choose from a mix of interactive and educational sessions focused on meeting the unique development and capital needs of South Carolina’s rural and diverse communities. The event will also highlight and provide an opportunity for attendees to get engaged in advocacy and policy-change efforts happening around the state. 

Corporate giving opportunities:

We accept donations, stock transfers and in-kind gifts. Your support and donations help to transform lives and build strong communities. For more information on how to support us, please visit www.sccommunityloanfund.org. All contributions and investments to SCCLF may qualify for a 33% S.C. Community Development Tax Credit. For more information, consult your financial adviser and review S.C. Schedule 14.  

Mission Statement

To advance equitable access to capital by providing loans, technical assistance, and advocacy
for affordable housing, healthy food, community facilities and community business enterprises.


 

Nonprofit Spotlight Sponsored by:

Click for more information about
SC Commmunity Loan Fund

 

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