Start Your Application
Learn more about eligibility and application requirements, fill out our New Client Questionnaire, and download your LDC Loan Application.
LDC Client Criteria
Loan amounts normally don’t exceed $250,000
Your business must be located in the LDC’s lending area
Your business cannot be:
Your business has been unable to obtain bank financing
Typical Turndown Reasons:
Insufficient cash flow
Personal Credit History / Bankruptcy
LDC may provide “gap financing” for LTV policy, Owner Investment, or Exposure reasons
What We’re Looking For
The owner’s credit history (not score)
Background experience – are the owners qualified to run the business?
Ownership – amount of $ (and time) invested in business
Can (does?) the business pay its bills?
Secondary source of income (can the business owner / guarantor personally repay the loan if the business fails?)
Local economic climate of industry & business
Terms of loan:
Intended purpose of loan
How much is requested
Length of loan
The LDC Application Process
To Submit Your Application You’ll Need
Your Business Plan
Business & Personal Federal Tax Returns
Current Business Financials
Personal Financial Statements
Pertinent Legal Information, Insurances, & Leases
Application package deadlines are the 1st of the month
The Loan Committee meets the last Thursday of each month.
Interest Rate – Loans are currently under 10% and Lines of Credit are WSJ Prime + 5%
Fees – 3% origination fee
Repayment terms – Based on use of loan proceeds
Application fee – $100 for startups + $25 for additional owners; additional $155 for existing (D&B)
Credit – we’re more concerned with your credit history than score
Collateral – collateral is reviewed case-by-case basis
Terms – our terms are flexible to fit to use of funds
Potential borrowers are encouraged to attend a 1-hour workshop
on how to package a loan request.
Please contact email@example.com with questions or to register.
Workshops are held at LDC – 2 Race Street, LDC Conference Room. Schedule is subject to change.
First and last Tuesday of the month @ 10:00 a.m. – THERE WILL BE NO WORKSHOP TUESDAY, JANUARY 28
First and last Thursday of the month @ 4:00 p.m.
Other seminars will be posted on the LDC’s Facebook Page
After your new LDC loan has funded…
New borrowers are required to attend a Borrower Orientation, which is on the second Wednesday each month, at 3:30 p.m.
RSVP to firstname.lastname@example.org or call 843-973-7298.
Visit our Resources section for templates for business plans, links to technical assistance partners, and other resources. Use the button below to fill out our New Client Questionnaire and download a loan application.
Free parking is provided in our lot at 2 Race Street