Commercial Retention & Redevelopment Program (CRR)
January 12, 2018:  The deadline of Monday, January 15, 2018, for CRR Application(s) is being extended until 2:00 PM, Friday, February 9, 2018
Forgivable Commercial Loans
♦  CRR Brochure
♦  Step-by-Step Guidelines
♦  Application Package Checklist
♦  Application
Commercial Loan Candidates must apply for a Facade Improvement Forgivable Loan/Grant to be eligible for this additional, multipurpose $10,000 forgivable loan. 

Application packages are due by 2:00 pm, Friday, February 9, 2018.  Project awards announced no later than Friday, February 16, 2018.  Projects must be completed and invoiced by Friday, March 30, 2018.  Please contact 803.545.3259 for more information.
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JANUARY 2018 - 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].  

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COMMERCIAL LOANS

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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