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Commercial Loans

NEW COMMERCIAL LOAN OFFICER, BRET WHITING

OBO is happy to welcome our new Commercial Loan Officer, Bret Whiting.  Mr. Whiting will be handling loans for businesses and commercial property owners within the corporate limits of the City of Columbia.  Bret has 25 years of banking experience and is an excellent addition to the City Family.  Please contact Bret at 803.545.3259, or [email protected]COMMERCIAL LENDING LINK

 

Commercial Retention & Redevelopment Program (CRR)
NOVEMBER 28, 2017
Forgivable Commercial Loans
♦  CRR Brochure
♦  Step-by-Step Guidelines
♦  Application Package Checklist
♦  Application

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2014-15 Loan Recipients
Location
2.50 Cleaners 1637 Main St.
Drake's Duck-In 1544 Main St.
Jeff Morris Furniture 1645 Main St.
Law Office of Yvonne-Murray-Boyles 1930 Henderson St.
Quality Cleaners 4500 N. Main St.
Sandler's Fine Jewelry 1231 Lincoln St.
The Language Buzz 1921 Henderson St.
Wateree Community Actions, Inc. 2712 Middleburg Dr.
Yoga Masala 1604 Main St.

 

 

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City-wide Commercial Loan Criteria

 

Funds may be used for the following:OBO JPEG CRLF Signing
* Building construction or rehabilitation
* Business conversion or expansion
* Purchase of real estate, machinery, equipment., supplies, 
  or materials
* Working capital

Eligibility
To be eligible for funding through the Commercial Revolving Loan Fund (CRLF):
* Businesses must be located within the corporate city limit of the City of Columbia
* Project must retain or create a certain number of jobs per amount funded 
* Certain funds require participation of private lenders and can only be used to fund part of an entire project 
* An equity investment on the part of the applicant may be required

Application Process
1. Contact the City of Columbia's Office of Business Opportunities for more information and to get a loan
    application.  
2. Applicants must submit the following:
    a. Completed Loan application
    b. Three (3) years of taxes and financial statements (business and personal)
    c. Three (3) years of financial projections for the business
    d. Business plan (start-ups) or plan for expansion/rehabilitation. etc.
3. Completed applications are reviewed by staff and if they meet requirements, forwarded to the Commercial
    Revolving Loan Fund committee for review and approval/disapproval.

Commercial Loan Application
Commercial Loan Brochure
Commercial Revolving Loan Fund Code - R-2013-117
 


 

Commercial Loan Committee Members
Kathleen Abraham
S. Allison Baker
Jennifer Bishop, Chair
Dianne Rushing
Gloria Saeed
Mills Snell
Ashley Wheeling Goodson


Contact Office of Business Opportunities at 803.545.3950
Photographs by Ambro; Courtesy of FreeDigitalPhotos.net  
 
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