1

SUCCESS STORIES

FROM ACROSS THE COUNTRY

SOUTH CAROLINA EDITION 2019

PROGRAMS FOR VETERANS

funding, training, and federal 

contracting opportunities

PREPARE YOUR 

BUSINESS FOR 

EMERGENCIES

8 TIPS FOR FINDING 

Government contracting 

Opportunities

Small Business 

RESOURCE GUIDE
2
 3

CONTENTS

Funding 

Programs 

28 National Success Story

An SBA loan guarantee helps 

Hawaii entrepreneurs hop 

up their brewing operation.

31 Local Funding Programs

35 Why Export? 

36 Investment Capital

37 Federal Research & 

Development

38 National Success Story

Ember Industries receives SBA’s 

2017 Phoenix Award For Outstanding 

	 DisasterRecovery Efforts.

40 SBA Disaster Loans

41 How to Prepare Your

Business for an Emergency

42 Surety Bonds

44 Need Financing?

Contracting 

45 National Success Story

This small business has made 

it their business to provide quality 

	 staffing in the federal arena.

47 SBA Contracting Programs

49 Woman-Owned Small 

	 Business certification

50 8 Tips for Finding 

Government Contracting 

Opportunities

Local Business 

Assistance 

 8 National Success Story

Hometown Trolley has found 

success through determination, 

creativity, and a little help from 

friends at the U.S. Small Business 

Administration.

11 Local SBA Resource Partners

13 Your Advocates

14 How to Start a Business

18 Local Success Story

With the backing of the SBA, Hannah 

Solar secured a working capital loan 

of $1 million and a $350,000 line of 

credit to assist with its 2015 

expansion. 

20 Write your Business Plan

23 Programs for Veterans

24 Programs for Entrepreneurs

25 Programs for Native 

Americans

 ON THE COVER Clockwise from top: Charleston, SC, photo courtesy of South Carolina 

Department of Parks, Recreation, and Tourism; Hunter Cattle, Brooklet, Georgia, courtesy of 

the SBA; Huntington Beach State Park, photo courtesy of South Carolina Department of Parks, 

Recreation, and Tourism; Hometown Trolley, Wisconsin, courtesy of Hometown Trolley; 21 

Short Stop, Georgia, courtesy of the SBA; photo by Pedro Baez

South Carolina Edition 2019
4

T his year the U.S. Small Business Administration

marks its 65th year helping small businesses start, 

grow and succeed. The Agency remains committed to 

its core missions: advocating for entrepreneurs and 

helping them access capital, government contracts, counseling 

and disaster assistance. As Administrator of the SBA, I am 

honored to serve as a member of President Trump’s cabinet 

and represent the interests of America’s 30 million small 

businesses.

Small businesses truly are the engines of our economy— 

and our communities. Over half of the U.S. workforce either 

owns or works for a small business, and small businesses 

create two out of every three net new jobs in the private sector. 

Small businesses may not put their names on stadiums and 

skyscrapers, but they likely put them on the uniforms of their 

local Little League and bowling teams. They are the delis 

and salons and retailers and manufacturers that make each 

community special. Across our great country, neighborhoods 

and families depend on the success of small business.

Since taking leadership of the SBA in February 2017, I have 

had the privilege of meeting with entrepreneurs all over the 

country. My goal is to visit small businesses in every one of the 

SBA’s 68 districts. So many of them tell me they simply would 

not exist without the help of the SBA—from the guaranteed 

loans that provided the capital they needed to realize their 

dreams of owning a small business, to the advice they got 

from our district offices and resource partners, to the disaster 

aid they received when it seemed all hope had been lost. 

Throughout this issue of our resource guide, you will read 

stories of successful entrepreneurs who received assistance 

from the SBA. These successes are the motivation for the work 

we do.

As SBA Administrator, I am proud to lead a team of 

professionals dedicated to helping entrepreneurs turn their 

visions into viable businesses. All of us share the joy of 

watching an entrepreneur go from having a simple idea and 

a business plan to living the American Dream—and often 

becoming an employer that empowers the dreams of others. 

It’s clear that the strength of America’s communities is often 

determined by the economic opportunities available to its 

citizens. Small businesses invigorate neighborhoods and cities, 

making them vibrant places to live, work and raise a family. 

And we at the SBA are working to ensure small businesses 

have the tools and resources they need to make that happen at 

every stage, whether they are launching, expanding or getting 

through a tough time.

Of course, we can’t do it alone. We are honored to have 

the expertise of our resource partners, including Small 

Business Development Centers, Women’s Business Centers, 

Veterans Business Outreach Centers and SCORE chapters in 

communities nationwide.

As the President noted at an event he hosted at the White 

House with more than a hundred entrepreneurs from all 

over the country, “America is on the verge of a golden age for 

small business.” The SBA is working to continue to revitalize 

a spirit of entrepreneurship in America and help America’s 

small businesses compete in a global economy. Entrepreneurs 

find that owning a business is one of the most effective ways 

to secure a financial future for themselves, provide for their 

families, exercise their commitments to their communities, 

and drive our country’s economic growth. I encourage all 

entrepreneurs to leverage the opportunities detailed in this 

resource guide to propel their businesses forward.

Regards,

Linda McMahon

SBA Administrator

THE U.S. SMALL BUSINESS ADMINISTRATION

A MESSAGE FROM THE ADMINISTRATOR
 5
6

published by

New South Media, Inc.

304.413.0104 | newsouthmediainc.com

PUBLISHER

Nikki Bowman, nikki@newsouthmediainc.com

ASSOCIATE EDITORS

Zack Harold, zack@newsouthmediainc.com 

Pam Kasey, pam@newsouthmediainc.com

DESIGNER

Hayley Richard, hayley@newsouthmediainc.com

OPERATIONS MANAGER

Holly Thubron, holly@newsouthmediainc.com

ADVERTISING SALES DIRECTOR 

Heather Mills, heather@newsouthmediainc.com

ADVERTISING SALES 

Sandy Burky, Kelley McGinnis, and Bryson Taylor

sba@newsouthmediainc.com

Copyright: New South Media, Inc. Reproduction in part or 

whole is strictly prohibited without the express written 

permission of the publisher. 

© NEW SOUTH MEDIA, INC. 

ALL RIGHTS RESERVED

The U.S. Small Business Administration’s Office of

Marketing & Customer Service directs the publication of 

the Small Business Resource Guide under SBA Contract 

#SBAHQ–17–C–0018. SBA publication Spring 2018 National 

edition #mcs-0087.

WRITER/EDITOR

Becky Bosshart

(202) 205-6677

rebecca.bosshart@sba.gov

DIRECTOR OF MARKETING

Paula Panissidi Tavares

paula.tavares@sba.gov

PUBLIC AFFAIRS SPECIALIST

Kelley Daniels

kelley.daniels@sba.gov

The SBA’s participation in this publication is not an 

endorsement of the views, opinions, products or 

services of the contractor or any advertiser or other 

participant appearing here. All SBA programs and 

services are extended to the public on a nondiscriminatory basis. Printed in the United States of America. 

While every reasonable effort has been made to

ensure that the information contained here is accurate as of the date of publication, the information 

is subject to change without notice. The contractor 

that publishes this guide, the federal government, 

or agents thereof shall not be held liable for any 

damages arising from the use of or reliance on the 

information contained in this publication.

PUBLISHER'S LETTER

I

n 2008, after working in the 

magazine business in Chicago, 

Washington, D.C., and Mississippi 

for 10 years, I moved back to my 

home state of West Virginia to create 

my own media company, New South 

Media, Inc. It was the scariest thing I’ve 

ever done. I didn’t know the first thing 

about starting a business, and I funded 

it myself by ransacking my retirement 

funds. When I started, I had one unpaid 

employee—me.

I had never heard of the U.S. Small 

Business Administration. I had no role 

model or support system to walk me 

through the process. All I had was a 

stack of dog-eared how-to books and a 

bucketload of grit and determination. 

As an entrepreneur and a small 

business owner, I know firsthand the 

challenges small companies face. I 

live it everyday. I know what it is like 

to work 100-hour weeks, to pay your 

employees before yourself, and to 

need funding to grow your business, 

all while trying to raise educated and 

thoughtful children and still put dinner 

on the table. I know what it is like to be 

completely overwhelmed and to have 

doors slammed in your face, only to 

get up the next day and try, try again. 

I know what it feels like to fail. And I 

know what it feels like to succeed.

My goal when founding my company 

was to create publications that would be 

community builders, nurturing a culture 

that better encourages and supports 

small businesses by telling their stories. 

After all, small businesses outnumber 

corporations 1,162-to-one and are the 

lifeblood of our economy and culture. 

As I look back on the past 10 years of 

business ownership, the thing I most 

wish I had known is what a valuable 

resource the SBA is to small businesses 

like my own. I can think of hundreds 

of mistakes I wouldn’t have made and 

tons of tools I could have used in those 

early, difficult days. And I’m pretty sure 

I’d also have a few less grays in my hair.

When I first saw a copy of the SBA 

Resource Guide, I flipped through the 

pages eagerly. But as you can imagine, 

as an editor and publisher, I always 

read magazines with a critical eye, 

and I caught myself thinking what my 

company would do differently with the 

publication. 

It was four years ago when I 

decided to find out how to go about 

competing for the contract to become 

the publisher of the Small Business 

Resource Guide. I was introduced to the 

world of government contracting and 

the opportunities available for small 

businesses. And to be honest, it was 

a bit intimidating. As I navigated the 

process, there were many times when 

I almost stopped. Sometimes I thought 

there was no way a woman-owned 

small business in the rural state of 

West Virginia could compete and win 

a federal contract. But every time I 

had a question, someone from my SBA 

West Virginia district office was quick 

to answer it, and I kept persevering. 

That’s what we do as small business 

owners, right?

That’s why my team at New South 

Media and I are really excited to be 

the new publisher of the SBA’s Small 

Business Resource Guides. I’m inspired 

by the success stories we feature in 

each issue of this magazine, and it 

has been a pleasure to work with the 

SBA on redesigning and refocusing 

the content of these guides to better 

serve small businesses in all corners 

of the country. So, let's use this 

magazine to educate everyone so all 

small businesses can know about the 

resources available to them.

Wishing you much success,

Nikki Bowman

Publisher

New South Media Inc.
 7

message from the district director

District Director

R. Gregg White

(803) 253-3360

richard.white@sba.gov

Deputy District Director

Michael Corp

(803) 765-5961

michael.corp@sba.gov

Charleston Senior Area Wide Manager

William Furman

(843) 225-7430

william.furman@sba.gov

Lender Relations Specialist

Frank Anderson

(803) 253-3018

frank.anderson@sba.gov

Business Opportunity Specialists

Carl Faison

(803) 253-3116

carl.faison@sba.gov

Angela Brewer

(803) 765-5907

angela.brewer@sba.gov

Lender Relations Specialist & Public 

Information Officer

Savannah Wilburn

(803) 253-3121

savannah.wilburn@sba.gov

Economic Development Specialist & 

Administrative Officer

Susan Chavis

(803) 765-5373

susan.chavis@sba.gov

SBA South Carolina 

DistrictOffice

Strom Thurmond Federal Building

1835 Assembly St., suite 1425

Columbia, SC 29201

(803) 765-5377

sba.gov/sc

Charleston Office

(843) 225-7430

Resources for Alls Stages of Business

The recent growth in South Carolina has created a robust opportunity for 

entrepreneurship and small business innovation within our great state. 

Whether you live in a small town or metropolitan city, the U.S. Small Business 

Administration has resources to help your business start, grow, expand, or recover 

after a disaster.

If you are looking to start your own business in South Carolina, I suggest that 

you come by our office. We can give you guidance and direct you to one of our

SBA Resource Partners, experienced mentors who can help you prepare your 

business plan, conduct market research, and analyze your competition. If you 

need funding, an adviser can also assist you with preparing a business loan 

package. South Carolina small businesses received more than 500 SBA-backed 

loans totaling over $264 million last year. You'll find our lenders listed in this guide.

Connect with SBA Lenders interested in working with you by using our Lender 

Match tool at sba.gov/lendermatch.

South Carolina is fortunate to have a vast network of resource partners ready 

to provide you with free or low-cost assistance. Our resource partners, Small 

Business Development Centers, SCORE chapters, and Women’s Business Center, 

are located in your local universities, community colleges, and chambers of 

commerce. To find a resource partner near you, consult this guide or visit sba.gov/

local-assistance.

As your business starts to take off, the SBA has resources to help your business

grow into its next stage. Whether it’s getting registered for federal contracting, 

or getting a small business loan for working capital, renovations, or the purchase 

of your first building, the SBA has you covered. In 2018, well over $1.5 billion in

federal contracts were awarded to small businesses in South Carolina.

The SBA also has resources for the entrepreneur who is looking to expand into 

a national, or even global, operation. We have a variety of workshops, trainings, 

seminars, and events that focus on exporting, contracting, financing, marketing,

and so much more. Our district office works with our resource partners, local and

state government, and a variety of other organizations to provide free or low-cost 

training in the topics that you need to ensure your business is successful. For a 

calendar of upcoming events in your area, visit sba.gov/sc. You can also sign up for 

our weekly newsletter to stay up to date on SBA events.

If your business or home is ever affected by a declared disaster, the SBA also

has low-interest loans to help you rebuild and recover. The disaster assistance 

section of this guide provides prepardness tips and other information to help 

you better weather a disaster.

Small businesses are incredibly important to South Carolina’s economy. Over 

99 percent of businesses in the state are small, and they employ over 777,000 

of the state’s workforce. Our district office and our resource partners are

committed to ensuring you are successful. Thank you for being the backbone of 

our state, and we are honored to serve you.

Sincerely,

R. Gregg White

District Director

SBA South Carolina District Office
8

Kristina Pence-Dunow did 

not intend to become a 

businesswoman, a cornerstone 

of her small town’s economy, 

and the nation’s only female owner of 

a transit vehicle manufacturer. In the 

beginning, she just wanted to keep the 

family business going.

Pence-Dunow was a dental assistant 

for the first several years of her adult 

life. Then, after giving birth to her son 

in 1988, she joined her husband’s family 

business. The company built fancy 

horse trailers as well as the occasional 

trackless trolley—a public transit 

vehicle designed to look like an oldtimey streetcar but set on a bus chassis. 

She started out doing bookkeeping and 

upholstery work. It was a small shop, so 

everyone wore several hats. 

Then, in the early 1990s, PenceDunow and her husband moved to 

Crandon, Wisconsin, so he could pursue 

a career in off-road racing. They took the 

trolley business with them. A few years 

later, her husband decided to devote his 

Hometown Trolley has found success through determination, creativity, 

and a little help from friends at the U.S. Small Business Administration.

full attention to racing. 

The couple eventually divorced and 

Pence-Dunow became sole owner of 

the business.

“I kept the trolleys going and 

raised my two children,” she says. The 

company made a few dozen vehicles 

each year, selling them through a 

distributor in Florida. Things were going 

well. At the time, all the nation’s trolley 

manufacturers were small, familyowned businesses. “We all just had 

our same customers and everybody 

stayed small.”

But then competition arrived. A 

large bus manufacturer began making 

trolleys, too. “They flooded the market. 

They had the capital behind them,” 

Pence-Dunow says. “I was being starved 

for sales.”

Other trolley companies shut their 

doors, but Pence-Dunow didn’t have 

a backup plan. She still had two kids 

to raise. So she did the only thing she 

could—she kept going.

LOCAL BUSINESS 

ASSISTANCE

written by Zack Harold

A Streetcar Named 

Persistence
 

9

 CLOCKWISE FROM TOP 

During the company's 

rebuilding period, Kristina 

Pence-Dunow had to lay off 

all her employees. Hometown 

Trolley now has more than 50 

full-time employees and plans 

to add more soon. 

Pence-Dunow poses with 

husband Joey, left, and SBDC 

President C.E. "Tee" Rowe after 

a ceremony in Washington, 

D.C., where she was named 

Wisconsin Small Business 

Person of the Year 2017. 

Hometown Trolley's factory 

floor has expanded from 6,000 

to 32,000 square feet—and the 

company is in the process of 

expanding again. 

Pence-Dunow says riders enjoy 

trolleys for their old-timey 

craftsmanship.

Still rolling

Since she knew her company could not 

compete with the bus manufacturer on 

volume, Pence-Dunow knew she would 

have to out-innovate them. She rebuilt the 

business from the ground up. She cut ties 

with her Florida distributor and created her 

own network of dealerships. She rebranded 

the company as Hometown Trolley. 

These changes came at a cost. PenceDunow had to lay off all her employees. She 

racked up debt. “I went six months with no 

work,” she says. But she was able to weather 

the storm, thanks to assistance from the U.S. 

Small Business Administration. 

About the time she was rebuilding and 

rebranding her company, Pence-Dunow met 

Chuck Brys of the Small Business Development 

Center at the University of Wisconsin–Green 

Bay. Brys connected her to a local bank with 

an in-house SBA specialist, who guided her 

through getting an SBA-guaranteed loan to 

help cover her debt.

Brys also helped Pence-Dunow develop 

a business plan and put together threeyear projections for Hometown Trolley’s 

growth. He encouraged her to be aggressive 

with those projections. To Pence-Dunow’s 

surprise, her company did not just meet 

those projections—they exceeded them. 

Slowly, Hometown Trolley’s emphasis on 

innovation began to take hold. The company 

developed a handicap-accessible, low-floor 

trolley. The city of Virginia Beach, Virginia, 

ordered 15. The big bus manufacturer didn’t 

have a comparable model. 

Pence-Dunow began landing similar 

contracts around the country, slowly taking 

a lead in the trolley market. Then, in 2016, 

she was able to purchase the bus company’s 

trolley division. 

“I just kept sending the CEO an email,” 

Pence-Dunow says. It took a year and a half 

but, finally, the company agreed to sell. As 

luck would have it, the company wanted out 

of the trolley business so it could focus on its 

commercial truck line. 

It was a big expenditure for a small 

company, but Pence-Dunow knew from 

experience how to make it work. She took out 

another SBA-guaranteed loan.

Picking up speed

Hometown Trolleys can now be found 

everywhere from Roanoke, Virginia,to 

Miami, Florida, and Laguna Beach, 

California. The vehicles are also found on the 

campuses of universities, themeparks, and 

retirement villages. 
10

SBA Resource Partners

To help your business flourish, the SBA’s Resource Partners are here to help

guide you through every phase of the business cycle. They provide counseling 

and training, for free or low cost, nationwide. These independent organizations, 

funded through SBA cooperative agreements or grants, extend our reach.

Join the ranks of other business owners who have experienced higher revenues and 

increased growth thanks to mentoring they received from SCORE. The nation’s largest 

network of volunteer business mentors harnesses the passion and knowledge of realworld business executives to provide invaluable mentorship. SCORE mentors are available as often as you need, in person, via email or over video chat. Visit sba.gov/score to 

start working on your business goals.

SCORE

Small Business Development Center counselors can help entrepreneurs realize their 

dream of business ownership. SBDC counselors help your business remain competitive 

in an ever-changing global economy. You have access to free one-on-one counseling 

and low-cost training. Some of the counseling and training topics available: marketing, 

regulatory compliance, technology development and international trade. Find your local 

Small Business Development Center at sba.gov/sbdc.

SMALL BUSINESS DEVELOPMENT CENTERS

Women interested in starting their small businesses can tap into a national network 

of community-based Women’s Business Centers. The centers offer training and counseling to those looking to make their entrepreneurial mark. If you’re interested in starting 

or expanding your business, your local Women’s Business Center is a good place to start. 

Each center tailors services to its community, offering a variety of programs in finance,

management and marketing. For your nearest Women’s Business Center, visit 

sba.gov/women.

WOMEN’S BUSINESS CENTERS

Veteran entrepreneurs or small business owners can receive business training, counseling and mentoring, and referrals to other SBA Resource Partners at a Veterans Business 

Outreach Center, sba.gov/vboc. This is also the place to receive procurement guidance, 

which can help your business better compete for government contracts.

VETERANS BUSINESS OUTREACH CENTERS

There are more than 

300 SCORE chapters

980 Small Business Development Centers

100 Women’s Business Centers

20 Veterans Business Outreach Centers

“It’s an iconic American form of 

transportation,” Pence-Denow 

says. “A trolley is an experience. 

People will let a city bus go by and 

wait for a trolley.”

The company is still innovating. 

Pence-Dunow hopes to expand 

her line of electric and liquefied 

petroleum gas–powered trolleys. 

Hometown Trolleys also has 

designed bus bodies for its existing 

chassis and drivetrains. It’s a way 

of tapping a small but profitable 

market. Small municipalities 

often wait years for buses from 

large manufacturers, since major 

cities snatch up most of the supply. 

Hometown Trolley can fill those 

small orders in much less time.

 By 2020, Hometown Trolleys 

plans to be making more than 200 

buses and trolleys a year—far more 

than the dozen or so it was making 

when Pence-Dunow took over. 

“I can’t believe how much we’ve 

grown,” she says.

In the past four years alone, 

the company has gone from $2 

million in gross sales to $15 million. 

It moved from a 6,000-squarefoot shop to a 32,000-squarefoot factory, which is now being 

expanded. And, best of all, the 

company has grown its workforce 

from a dozen people to 54 fulltime employees and a few parttimers, with plans to add six more 

employees soon.

And it’s still a family business. 

Pence-Dunow’s daughter Jessica 

does marketing and graphic design 

for the company. Her son Dustin 

helps run the production floor. 

Without help from the SBA, 

“I would have never stepped out 

and known what to do,” PenceDunow says. “All of that, it was 

great learning experience that I 

still use today. I’m doing a lot more 

on my own, because I have more 

resources, but I can refer back to 

that.”

But she says the most important 

resource was the moral support. 

“Someone saying, ‘You can do 

this.’”

LOCAL BUSINESS ASSISTANCE
 11

LOCAL BUSINESS ASSISTANCE

Our Local SBA 

Resource Partners

The SBA’s Resource Partners are independent organizations, funded through SBA cooperative 

agreements or grants, extending our reach to small business owners and entrepreneurs.

SCORE

To schedule an appointment to start 

working on your business goals, contact 

your local SCORE office.

Greater Aiken Chapter

Aiken Chamber of Commerce

121 Richland Ave. East

Aiken

(803) 641-1111

greateraiken.score.org

North Augusta Branch

406 West Ave.

(803) 279-2323

Charleston Chapter

Lonnie Hamilton III Building

4045 Bridge View Drive, suite B151

North Charleston

(843) 727-4778

charlestonsc.score.org

Summerville Branch

Summerville Library

76 Old Trolley Road

Grand Strand Chapter

605 10th Ave. North

Myrtle Beach

(843) 918-1079

grandstrand.score.org

Midlands Chapter

Columbia Chamber of Commerce

930 Richland St.

Columbia

(803) 765-5131

midlands.score.org

Chapin Branch

(803) 345-1100

Columbia Northeast Branch

(803) 765-5131

Hartsville Branch

Hartsville Chamber of Commerce

214 North Fifth St.

(843) 332-5693

Lexington Branch

(803) 765-5131

Sumter Branch

(803) 775-1231

Piedmont Chapter

300 E. Washington St.

Greenville

(864) 271-3638

piedmont.score.org

Spartanburg Branch

Spartanburg Community College

Tyger River Campus

1875 E. Main St.

Duncan

(864) 592-6317

Lowcountry Chapter

Hilton Head Island

Bluffton Chamber of Commerce

1 Chamber of Commerce Drive

(843) 785-7107

sclowcountry.score.org

Beaufort Branch

(843) 470-0800

Bluffton Branch

(843) 785-7105

Small Business 

Development 

Centers

Find your local Small Business 

Development Center at scsbdc.com.

State Director’s Office

University of South Carolina

Moore School of Business

1014 Greene St.

Columbia

(803) 777-4907

scsbdc@sc.edu

CLEMSON REGION

clemson.edu/sbdc

Clemson Area SBDC

Clemson University

413 Sirrine Hall

Clemson

(864) 710-4717

bennys@clemson.edu

Greenville Area SBDC

225 S. Pleasantburg Drive, suite C-12

Greenville

864-370-1545

clemsonsbdc@clemson.edu

Greenwood Area SBDC

430 Helix Road

Greenwood

864-941-8092

bncalho@clemson.edu

Spartanburg Area SBDC

Spartanburg Community College

Tyger River Campus

1875 E. Main St., suite 4

Duncan

(864) 592-6318

es2@clemson.edu
12

LOCAL BUSINESS ASSISTANCE

SC STATE REGION

scsu.edu/sbdc

Orangeburg Area SBDC

South Carolina State University

Algernon S. Belcher Hall

300 College St. Northeast

Orangeburg

(803) 536-8445

jjohns47@scsu.edu

Walterboro Satellite Center

Colleton Commercial Kitchen

514 E. Washington St.

(843) 549-2303

USC REGION

Aiken Area SBDC

USC-Aiken School of Business

471 University Parkway

Aiken

(803) 641-3646

sbdc@usca.edu

Beaufort Area SBDC

USCB Historic Beaufort Campus

801 Carteret St.

Beaufort

(843) 521-4143

goodman@uscb.edu

Charleston Area SBDC

charlestonsbdc.com

The Citadel

256A Bond Hall

171 Moultrie St.

Charleston

(843) 953-7220

charlestonsbdc@moore.sc.edu

North Charleston Area SBDC

6296 Rivers Ave., suite 300

North Charleston

(843) 740-6160

charlestonsbdc@moore.sc.edu

Columbia Area SBDC

1225 Laurel St., third floor

Columbia

(803) 777-5118

Hilton Head Area SBDC

USCB Gateway to Hilton Head Campus

1 University Blvd.

Bluffton

(843) 208-8259

pcameron@usb.edu

Veterans Business Outreach Center

Georgia Veterans Education Career Transition Resource Center

1001 S. Armed Forces Blvd.

Warner Robins, GA

(478) 218-3900

gavectr.org

Lexington Satellite Center

311 W. Main St.

(803) 777-5118

Newberry Area SBDC

Newberry College

2100 College St.

Newberry

(803) 321-5689

newberryareasbdc.com

Sumter Area SBDC

USC Sumter

200 Miller Road, room 216

Sumter

(803) 938-3833

WINTHROP REGION

winthropregionalsbdc.org

Cheraw Satellite Center

Northeastern Technical College

1201 Chesterfield Highway

(843) 910-7352

cherawsbdc@gmail.com

Florence Area SBDC

Florence-Darlington Technical College

2715 W. Lucas St.

Florence

(843) 661-8256

sbdc.florence@gmail.com

florencesbdc.org

Georgetown Satellite Center

Georgetown Library

405 Cleland St.

(843) 606-0116

coastal.edu/sbdc

Myrtle Beach Area SBDC

Coastal Carolina University Atlantic Hall

642 Century Circle

Conway

(843) 349-5070

jpgraham@coastal.edu

coastal.edu/sbdc

Rock Hill Area SBDC

Winthrop University

118 Thurmond Building

Rock Hill

(803) 323-2283

withropregionalsbdc@gmail.com

Union Satellite Center

SC Works

103 W. Main St.

(864) 427-8864

unionsbdc@gmail.com
 13

LOCAL BUSINESS ASSISTANCE

Advocacy

When you need a voice within the federal government for your interests as a small business 

owner, the SBA’s regional advocates are here 

to assist. The advocates analyze the effects of

proposed regulations and consider alternatives that minimize the economic burden on 

small businesses, governmental jurisdictions 

and nonprofits. Find yourregional advocate

at sba.gov/advocacy.

• Your advocate helps with these small 

business issues:

• If your business could be negatively 

affected by regulations proposed by the

government

• If you have contracting issues with a 

federal agency

• When you need economic and small business statistics

The SBA’s Office of Advocacy also independently represents small business and 

advances its concerns before Congress, the 

White House, federal agencies, the federal 

courts and state policy makers. 

Ombudsman

Entrepreneurs who have an issue with an 

existing federal regulation or policy can 

receive assistance from the SBA’s national 

ombudsman.

• The ombudsman’s office helps you:

• Resolve regulatory disputes with federal 

agencies

Your 

Advocates

• Reduce unfair penalties and fines

• Seek remedies when rules are inconsistently applied

• Recover payment for services done 

by government contractors

Make your voice heard by participating 

in a Regional Regulatory Enforcement 

Fairness Roundtable or a public hearing 

hosted by the SBA’s national ombudsman. 

These events are posted periodically on 

the ombudsman website.

To submit a comment or compliant 

through the online form, visit sba.gov/

ombudsman/comments. Your concerns will 

be directed to the appropriate federal agency 

for review. The SBA will collaborate with you 

and the agency to help resolve the issue.

To report how a proposed federal 

regulation could unfairly affect you, 

find your regional SBA advocate at 

sba.gov/advocacy.

To submit a comment about how your 

business has been hurt by an existing 

regulation, visit sba.gov/ombudsman/

The SBA’s offices of advocacy and ombudsman are comments.

independent voices for small business within the 

federal government.
14

LOCAL BUSINESS ASSISTANCE

How to Start a Business in 

South Carolina

Thinking of starting a business? Here are the nuts and bolts.

SOUTH CAROLINA DEPARTMENT OF PARKS, RECREATION, AND TOURISM

The Startup Logistics

Even if you’re running a home-based 

business, you will have to comply with 

many local, state, and federal regulations. 

Do not ignore regulatory details. You may 

avoid some red tape in the beginning, but 

your lack of compliance could become 

an obstacle as your business grows. 

Taking the time to research the applicable 

regulations is as important as knowing 

your market. Carefully investigate the 

laws affecting your industry. Being out of

compliance could leave you unprotected 

legally, lead to expensive penalties, and 

jeopardize your business.

Market Research

Need to do research on your clients and 

location? View consumer and business 

data for your area using the Census 

Business Builder: Small Business Edition,

https://cbb.census.gov/sbe. Filter your 

search by business type and location to 

view data on your potential customers, 

including consumer spending, and a 

summary of existing businesses, available 

as a map and a report.

Business License & 

Zoning

Licenses are typically administered by a 

variety of state and local departments. It is 

important to consider zoning regulations 

when choosing a site for your business. 

Contact the local business license office

where you plan to locate your business. You 

may not be permitted to conduct business 

out of your home or engage in industrial 

activity in a retail district. Find your city 

and county contacts at the South Carolina 

Business One Stop, (803)898-5960, or visit 

scbos.sc.gov. 

Name Registration

Register your business name with the 

county clerk where your business is located. 

If you’re a corporation, also register with 

the state.

» SC Secretary of State

1205 Pendleton St., suite 525

Columbia

(803) 734-2170

scsos.com

Taxes

As a business owner, you should know your 

federal tax responsibilities and make some 

basic business decisions to comply with 

certain tax requirements. The IRS Small 

Business and Self-Employed Tax Center,

go.usa.gov/xPxYR, offers information on

a variety of topics including: obtaining an 

Employer Identification Number, paying

and filing income tax, virtual workshops,

forms, and publications.

Whether you are a new or an experienced business owner, there are new tax 

law changes that may affect your business.

As the IRS works to implement the Tax Cuts 

and Jobs Act, signed into law December 

2017, you can access the latest information 

on irs.gov/tax-reform to better understand the new tax law implications and 

how they affect your bottom line.

» Small Business Stakeholder Liaison

Evette Davis

(803) 548-4350

evette.davis@irs.gov

» State Taxes

SC Department of Revenue

(803) 898-5000

dor.sc.gov
 15

LOCAL BUSINESS ASSISTANCE

Social Security

If you have any employees, including 

officers of a corporation but not the

sole proprietor or partners, you must 

make periodic payments, and/or file

quarterly reports about payroll taxes 

and other mandatory deductions. 

You can contact the IRS or the Social 

Security Administration for information, 

assistance and forms, socialsecurity.

gov/employer or (800) 772-1213. You 

can file W-2s online or verify job seekers

through the Social Security Number 

Verification Service.

Employment Eligibility 

Verification

The Federal Immigration Reform and 

Control Act of 1986 requires employers 

to verify employment eligibility of 

new employees. The law obligates 

an employer to process Employment 

Eligibility Verification Form I-9. The U.S.

Citizenship and Immigration Service 

offers information and assistance

through uscis.gov/i-9-central. For 

forms, call (800) 870-3676, for the 

employer hotline, call (888) 464-4218 or 

e-mail I-9central@dhs.gov.

E-Verify, operated by the Department 

of Homeland Security in partnership 

with the Social Security Administration, 

electronically verifies the Social Security

number and employment eligibility 

information reported on Form I-9. It’s the 

quickest way for employers to determine 

the employment eligibility of new hires. 

Visit e-verify.gov, call (888) 464-4218 or 

email e-verify@dhs.gov.

Health & Safety

All businesses with employees are 

required to comply with state and federal 

regulations regarding the protection of 

employees, visit dol.gov for information. 

The Occupational Safety and Health 

Administration provides information on 

the specific health and safety standards

used by the U.S. Department of Labor, 

(800) 321-6742, or visit osha.gov.

» U.S. Department of Labor Wage & 

Hour Division

1835 Assembly St., suite 1072

Columbia

(803) 765-5981

» SC Department of Labor 

Licensing & Regulations

Kingstree Building

110 Centerview Drive

Columbia

(803) 896-4300

llr.state.sc.us

Employee Insurance

Check with your state laws to see if you 

are required to provide unemployment 

or workers’ compensation insurance for 

your employees. For health insurance 

options, call the Small Business Health 

Options Program at (800) 706-7893 

or visit healthcare.gov/smallbusinesses/employers.

Environmental 

Regulations

State assistance is available for small 

businesses that must comply with 

environmental regulations under the 

Clean Air Act. State Small Business 

Environmental Assistance programs 

provide free, confidential assistance to

help small business owners understand 

and comply with complex environmental 

regulations and permitting requirements. 

These state programs can help 

businesses reduce emissions at the 

source, often reducing regulatory burden

and saving you money. To learn 

more about these free services, visit 

nationalsbeap.org/states/list.

» SC Department of Health and 

Environmental Control

2600 Bull St.

Columbia

(803) 898-3432

scdhec.gov

Disability Compliance

For assistance with the Americans with 

Disabilities Act call (800) 669-3362 or visit 

ada.gov.

Child Support

Employers are essential to the success 

of the child support program and are 

responsible for collecting 75 percent 

of support nationwide through payroll 

deductions. The Office of Child Support

Enforcement at Health and Human 

Services offers employers step-by-step

instructions for processing income 

withholding orders for child support. “A 

Guide to an Employer’s Role in the Child 

Support Program” is available at the Office

of Child Support Enforcement’s website at 

acf.hhs.gov/programs/css/resource/aguide-to-an-employers-role-in-thechild-support-program. You can also 

find information about other employer

responsibilities and tools that can make 

meeting those responsibilities easier, such 

as electronic income withholding orders 

and the Child Support Portal, at acf.hhs.

gov/css/employers. Send questions to 

employerservices@acf.hhs.gov.

Intellectual Property

Patents, trademarks, and copyrights 

are types of intellectual property 

that serve to protect creations and 

innovations. Intellectual property may 

be valuable assets for small businesses 

and entrepreneurs, and are important 

to consider in the development of any 

business plan.

Patents and Trademarks

For information and resources about 

U.S. patents and federally registered 

trademarks: Visit uspto.gov or call the 

U.S. Patent and Trademark Office Help

Center at (800)786-9199. A patent for 

an invention is the grant of a property 

right to an inventor, issued by the patent 

office. The right conferred by the patent

grant is the right to exclude others from 

making, using, offering for sale, or selling

the invention in the United States or 

importing the invention.

There are three types of patents:

• Utility patents may be granted to 

anyone who invents or discovers any 

new and useful process, machine, 

manufacture, or composition of matter, 

or any new and useful improvement.

• Design patents may be granted to 

anyone who invents a new, original, 

and ornamental design for an article 

of manufacture.

• Plant patents may be granted to 

anyone who invents or discovers and 

asexually reproduces any distinct and 

new variety of plant, other than a tuber 

propagated plant or a plant found in 

an uncultivated state. For information 

visit uspto.gov/inventors.
16

LOCAL BUSINESS ASSISTANCE

A trademark or service mark 

includes any word, name, symbol, device, or any combination 

used or intended to be used 

to identify and distinguish the 

goods/services of one seller or 

provider from those of others, 

and to indicate the source of the 

goods/services.

Trademarks and service 

marks may be registered at 

both the state and federal level 

with the latter at the U.S. Patent 

and Trademark Office. Federally

registered trademarks may 

conflict with and supersede

those registered only at the 

state level. For 

information visit uspto.gov/

trademarks.

Copyrights

Copyrights protect original 

works of authorship, including 

literary, dramatic, musical 

and artistic, and certain other 

intellectual works. Copyrights 

do not protect facts, ideas, 

and systems, although it 

may protect the way these 

are expressed. For general 

information contact:

» U.S. Copyright Office

U.S. Library of Congress

James Madison 

Memorial Building

101 Independence Ave. 

Southeast Washington, DC

(202) 707-3000 or 

toll free (877) 476-0778

copyright.gov

Economic 

Development

U.S. Export 

Assistance Centers

export.gov/southcarolina

North Charleston

1362 McMillian Ave., suite 100

(843) 746-3404

Columbia

Darla Moore School of Business

705 College St., suite 600

(803) 777-2571

Greenville

216 S. Pleasantburg Drive, 

suite 243

(704) 340-1299

Del Ferguson, owner of Hunter Cattle, 

is a family-owned farm in Brooklet, 

Georgia, and was assisted by his local 

Small Business Development Center.

SC Department of 

Commerce— International 

Strategy & Trade

1201 Main St., suite 1600

Columbia

(803) 737-0598

sccommerce.com

Chambers of 

Commerce

American Indian Chamber

(843) 224-4000

aiccsc.org

SC African 

American Chamber

(803) 661-2977

scachamber.com

South Carolina Chamber

(803) 799-4601

scchamber.net

SC Hispanic Chamber

(864) 643-7261

schcc.org

SC Small Business Chamber

(803) 252-5733

scsbc.org

Abbeville

(864) 366-4600

abbevillechamber.org

Aiken

(803) 641-1111

aikenchamber.net

Anderson

(864) 226-3454

andersonscchamber.com

Aynor

(843) 989-0650

aynorareachamber

ofcommerce.com

Bamberg

(803) 245-4427

bambergcountychamber.org

Barnwell

(803) 259-7446

barnwellcountychamber.org

Batesburg-Leesville

(803) 532-4339

batesburg-leesville

chamber.org

Beaufort

(843) 525-8525

beaufortchamber.org

Beaufort County

 Black Chamber

(843) 986-1102

bcbcc.org

Berkley

(843) 761-8238

berkeleysc.org/chamber

Blythewood

(803) 403-6769

blythewoodchamber.com

Calhoun Falls

(864) 418-8672

Cayce West Columbia

(803) 794-6504

cwcchamber.com

Chapin

(803) 345-1100

chapinchamber.com

Charleston Metro

(843) 577-2510

charlestonchamber.org

Cheraw

(843) 537-7681

cherawchamber.com

Cherokee County

(864) 489-5721

cherokeechamber.org

Chester County

(803) 581-4142

chesterchamber.com

Clarendon County

(803) 435-4405

clarendoncounty.com

Clemson Area

(864) 654-1200

clemsonareachamber.org

Clover

(803) 222-3312

cloverchamber.org
 17

LOCAL BUSINESS ASSISTANCE

Columbia

(803) 733-1110

columbiachamber.com

Conway

(843) 248-2273

conwayscchamber.com

Darlington

(843) 393-2641

darlingtonchamber.com

Dillon County

(843) 774-8551

dilloncounty.sc.gov

Easley County

(864) 859-2693

easleychamber.org

Edgefield County

(803) 275-0010

edgefieldcountychamber.net

Edisto

(843) 869-3867

edistochamber.com

Fairfield County

(803) 635-4242

fairfieldchamber.sc

Florence

(843) 665-0515

florencescchamber.com

Fountain Inn

(864) 862-2586

fountaininnchamber.org

Georgetown County

(843) 546-8436

visitgeorge.com

Greenville

(864) 242-1050

greenvillechamber.org

Greenwood

(864) 223-8431

greenwoodscchamber.org

Greer

(864) 877-3131

greerchamber.com

Hampton County

(803) 914-2143

hamptoncountychamber.org

Hardeeville

(843)784-3606

hardeevillechamber.com

Hartsville

(843) 332-6401

hartsvillechamber.org

Hilton Head-Bluffton

(843) 785-3673

hiltonheadchamber.org

Inman

(864) 472-3654

inmanscchamber.org

Irmo

(803) 749-9355

greaterirmochamber.com

Jasper County

(843) 726-8126

jaspercountychamber.com

Kershaw County

(803) 432-2525

kershawcountychamber.org

Lake City

(843) 374-8611

lakecitysc.org

Lake Murray

(803) 356-2151

lakemurraychamber.com

Lake Wylie

(803) 831-2827

lakewyliechambersc.com

Lancaster County

(803) 283-4105

lancasterchambersc.org

Laurens County

(864) 833-2716

laurenscounty.org/cc

Lee County

(803) 483-2800

leecountychambersc.com

Lexington

(803) 359-6113

lexingtonsc.org

Little River

(843) 249-6604

littleriverchamber.org

Loris

(843) 756-6030

lorischamber.com

Marion

(843) 423-3561

marionscchamber.com

Mauldin

(864) 297-1323

mauldinchamber.org

McCormick

(864) 852-2835

mccormickscchamber.org

Midland Valley

(803) 593-3030

midlandvalleychamber.org

Mullins

(843) 464-6651

mullinschamber.com

Myrtle Beach

(843) 626-7444

myrtlebeachareachamber.com

Newberry County

(803) 276-4274

newberrycountychamber.com

Ninety Six

(864) 543-2047

ninetysixsc.gov

North Augusta

(803) 279-2323

northaugustachamber.org

North Myrtle Beach

(843) 281-2662

northmyrtlebeach

chamber.com

Oconee County

(864) 882-2097

oconeechambersc.com

Orangeburg County

(803) 534-6821

orangeburgchamber.com

Pageland

(843) 672-6400

townofpageland.com

Pickens

(864) 878-3258

pickenschamber

ofcommerce.com

Rock Hill

(803) 324-7500

yorkcountychamber.com

Saluda County

(864) 445-4100

saludachambersc.org

Simpsonville Area

(864)963-3781

simpsonvillechamber.com

Spartanburg Area

(864) 594-5000

spartanburgchamber.com

Summerville/

Dorchester County

(843) 873-2931

greatersummerville.org

Sumter

(803) 775-1231

sumterchamber.com

Tri-County Region

(843) 563-8187

tri-crcc.com

Union County

(864) 427-9039

unionsc.info

Greater Walhalla

(864) 638-2727

oconeechambersc.org

Walterboro-Colleton

(843) 549-9595

walterboro.org

Westminster

(864) 647-5316

westminstersc.com

Williamsburg Hometown

(843) 355-6431

williamsburgsc.org

York

(803) 684-2590

greateryorkchamber.com

York County Region

(803) 324-7500

yorkcountychamber.com
18

local success story

Ronald David McNeil

OWNER/CEO, HANNAH SOLAR GOVERNMENT SERVICES

Charleston, SC

Dave McNeil, a servicedisabled veteran, and his 25 

employees provide services 

for several government 

agencies, including the 

Department of Defense, 

NASA, and the Department 

of Veterans Affairs. With 

the backing of the SBA, 

Hannah Solar secured a 

working capital loan of 

$1 million and a $350,000 

line of credit to assist with 

its 2015 expansion. The 

working capital loan was 

used to hire employees and 

move into a larger building. 

Dave used the line of credit 

to assist with his contracted 

projects. Dave and his 

employees participate in 

classes and webinars offered 

by the local Procurement 

Technical Assistance Center 

and the Small Business 

Development Center, an SBA 

Resource Partner. Dave also 

volunteers as a mentor for 

senior college cadets at the 

Citadel.

• How has the SBA helped you grow your business? The SBA helped us grow our business 

by providing a database where we can learn more about set asides, joint ventures, mentor 

programs, subcontracting, and size classifications.

• What are the biggest challenges you face as a small business owner? Staffing and

cash flow are two of the biggest challenges I face as a small business owner. The bonding

process is also really challenging. Surety Bonds provide customers with a guarantee that the 

construction, supply or service contract work will be completed.

• What advice do you have for other small businesses? Take full advantage of SBA resources. 

Attend outreach events and seminars. Always strive for quality over quantity. Before diving 

into every project, think to yourself: Would I want to be the project manager or on the field

team for this project? Would I be able to write a compelling press release about this project? 

Will this project provide more opportunities in the future? If you’re not picking the right 

projects or clients, you are not going to be happy from the start, and your team is not going to 

give 110 percent. 

You should find your niche and find your target market. Our niche is designing and

installing solar arrays with battery storage systems and microgrid systems for the 

government and commercial businesses. It pays to be specialized.

• Have you continued to utilize your local SBA district office? If so, how? Yes, we take 

advantage of training seminars and online workshops.

• What are your future plans for expansion, if any? We plan on hiring more as we continue 

to grow. We are headquartered in Charleston, South Carolina, and we are looking for a 

larger facility to accommodate our growing team. We have also recently purchased new 

construction equipment and vehicles.

• What do you find are the satisfactions of small business ownership? It is satisfying to 

build a successful, motivated, professional, and happy team. It gives me a great sense of 

pride and personal accomplishment to complete projects successfully, and I love having the 

ability to set my own schedule and goals.
 19

The SBA helped grow our business by providing a 

database where we can learn more about set asides, joint 

ventures, mentor programs, subcontracting, and size 

classifications.”

Ronald David McNeil

Owner/CEO, Hannah Solar Government Services
20

Write your 

Business Plan

Traditional Business Plan

• This type of plan is very detailed, takes more time 

to write, and is comprehensive. 

• Lenders and investors commonly request this 

plan.

Lean Startup Plan

• This type of plan is high-level focus, fast to write, 

and contains key elements only. 

• Some lenders and investors may ask for more 

information.

Which business 

plan format is 

right for you?

Business plans help you run your business

A good business plan guides you through each stage of starting and managing 

your business. You’ll use your business plan as a roadmap for how to structure, 

run, and grow your new business. It’s a way to think through the key elements of 

your business.

Business plans can help you get funding or bring on new business partners. 

Investors want to feel confident they’ll see a return on their investment. Your

business plan is the tool you’ll use to convince people that working with you— 

or investing in your company—is a smart choice.

Pick a business plan format that works for you

• There’s no right or wrong way to write a business plan. What’s important is 

that your plan meets your needs.

• Most business plans fall into one of two common categories: traditional or lean 

startup.

• Traditional business plans are more common, use a standard structure, and 

encourage you to go into detail in each section. They tend to require more 

work upfront and can be dozens of pages long.

• Lean startup business plans are less common but still use a standard structure. They focus on summarizing only the most important points of 

the key elements of your plan. They can take as little as one hour to make 

and are typically only one page.

Your business plan is the foundation of your business. Learn how to write a business 

plan quickly and efficiently with a business plan template.

LOCAL BUSINESS ASSISTANCE
 21

You might prefer a traditional business plan format if you’re very 

detail oriented, want a comprehensive plan, or plan to request 

financing from traditional sources.

When you write your business plan, you don’t have to stick to the 

exact business plan outline. Instead, use the sections that make the 

most sense for your business and your needs. Traditional business 

plans use some combination of these nine sections.

Executive Summary

Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and 

basic information about your company’s leadership team, employees, and location. You should also include financial information and

high-level growth plans if you plan to ask for financing.

Company Description

Use your company description to provide detailed information about 

your company. Go into detail about the problems your business 

solves. Be specific, and list out the consumers, organization, or businesses your company plans to serve.

Explain the competitive advantages that will make your business 

a success. Are there experts on your team? Have you found the perfect location for your store? Your company description is the place to 

boast about your strengths.

Market Analysis

You'll need a good understanding of your industry outlook and target 

market. Competitive research will show you what other businesses are 

doing and what their strengths are. In your market research, look for 

trends and themes. What do successful competitors do? Why does it 

work? Can you do it better? Now's the time to answer these questions.

Organization and Management

Tell your reader how your company will be structured and who 

will run it.

Describe the legal structure of your business. State whether 

you have or intend to incorporate your business as a C or an 

S corporation, form a general or limited partnership, or if you're 

a sole proprietor or LLC.

Use an organizational chart to lay out who's in charge of what in 

your company. Show how each person's unique experience will contribute to the success of your venture. Consider including resumes or 

CVs of key members of your team.

Service or Product Line

Describe what you sell or what service you offer. Explain how it benefits your customers and what the product lifecycle looks like. Share

your plans for intellectual property, like copyright or patent filings. If

you're doing research and development for your service or product, 

explain it in detail.

Marketing and Sales

There's no single way to approach a marketing strategy. Your strategy should evolve and change to fit your unique needs.

Your goal in this section is to describe how you'll attract and retain 

customers. You'll also describe how a sale will actually happen. 

You'll refer to this section later when you make financial projections,

so make sure to thoroughly describe your complete marketing and 

sales strategies.

Funding Request

If you're asking for funding, this is where you'll outline your funding 

requirements. Your goal is to clearly explain how much funding you’ll 

need over the next five years and what you'll use it for.

Specify whether you want debt or equity, the terms you'd like 

applied, and the length of time your request will cover. Give a 

detailed description of how you'll use your funds. Specify if you need 

funds to buy equipment or materials, pay salaries, or cover specific

bills until revenue increases. Always include a description of your 

future strategic financial plans, like paying off debt or selling your

business.

Financial Projections

Supplement your funding request with financial projections. Your

goal is to convince the reader that your business is stable and will be 

a financial success.

If your business is already established, include income statements, balance sheets, and cash flow statements for the last three

to five years. If you have other collateral you could put against a loan,

make sure to list it now.

Provide a prospective financial outlook for the next five years.

Include forecasted income statements, balance sheets, cash flow

statements, and capital expenditure budgets. For the first year, be

even more specific and use quarterly—or even monthly —projections. Make sure to clearly explain your projections, and match them 

to your funding requests.

This is a great place to use graphs and charts to tell the financial

story of your business. 

Appendix

Use your appendix to provide supporting documents or other materials 

that were specially requested. Common items to include are credit histories, resumes, product pictures, letters of reference, licenses, permits, 

patents, legal documents, and other contracts.

• Executive summary

• Company description

• Market analysis

• Organization and 

management

• Service or product line

• Marketing and sales

• Funding request

• Financial projections

• Appendix

TRADITIONAL 

BUSINESS PLAN FORMAT

TRADITIONAL BUSINESS PLAN CHECKLIST 

LOCAL BUSINESS ASSISTANCE
22

Want to see 

an example 

of a business 

plan? 

View examples of both 

business plan formats at 

sba.gov/business-guide/

plan/write-your-businessplan-template

If you fail to plan, you 

are planning to fail.”

Benjamin Franklin

• Key partnerships

• Key activities

• Key resources

• Value proposition

• Customer relationships

• Customer segments

• Channels

• Cost structure

• Revenue streams

You might prefer a lean startup format if you want to explain or start your business quickly, 

your business is relatively simple, or you plan to regularly change and refine your business plan.

Lean startup formats are charts that use only a handful of elements to describe your 

company’s value proposition, infrastructure, customers, and finances. They’re useful for

visualizing tradeoffs and fundamental facts about your company.

There are many versions of lean startup templates, but one of the oldest and most well known 

is theBusinessModelCanvas, developed by AlexOsterwalder. You can search theweb to find free

templates of the Business Model Canvas, or other versions, to build your business plan.

We’ll discuss the nine components of the Business Model Canvas version here.

Key Partnerships

Note the other businesses or services you’ll work with to run your business. Think about 

suppliers, manufacturers, subcontractors and similar strategic partners.

Key Activities

List the ways your business will gain a competitive advantage. Highlight things like selling 

direct to consumers or using technology to tap into the sharing economy.

Key Resources

List any resource you’ll leverage to create value for your customer. Your most important 

assets could include staff, capital, or intellectual property. Don’t forget to leverage business

resources that might be available to women, veterans, Native Americans, 

and HUBZone–certified businesses.

Value Proposition

Make a clear and compelling statement about the unique value your company brings 

to the market.

Customer Relationships

Describe how customers will interact with your business. Is it automated or personal? 

In person or online? Think through the customer experience from start to finish.

Customer Segments

Be specific when you name your target market. Your business won’t be for everybody,

so it’s important to have a clear sense of who your business will serve.

Channels

List the most important ways you’ll talk to your customers. Most businesses use a mix 

of channels and optimize them over time.

Cost Structure

Will your company focus on reducing cost or maximizing value? Define your strategy,

then list the most significant costs you’ll face pursuing it.

Revenue Streams

Explain how your company will actually make money. Some examples are direct sales, memberships fees, and selling advertising space. If your company has multiple revenue streams, 

list them all.

LEAN STARTUP PLAN FORMAT

LEAN STARTUP PLAN 

CHECKLIST 

LOCAL BUSINESS ASSISTANCE
 23

Entrepreneurship training is available through the SBA’s programs 

for veterans, sba.gov/veterans. This includes active duty service 

members, those transitioning out of service, National Guard and 

Reserve members, and military spouses in the United States and at 

military installations around the world. Connect to other entrepreneurs and your local network of SBA Resource Partners through 

these services and programs. Veterans Business Outreach Centers, 

sba.gov/vboc, provide business training and counseling to those 

interested in starting or growing a small business.

Entrepreneurship Training Programs

Boots to Business is an entrepreneurial training program offered

by the SBA as a training track within the Department of Defense’s 

Transition Assistance Program. The curriculum provides valuable 

assistance to those transitioning out of service and their spouses. You 

explore business ownership and other self-employment opportunities 

while learning key business concepts. Participants learn how to access 

start-up capital using SBA resources. This program provides the 

foundational knowledge required to develop a business plan.

Boots to Business: Reboot delivers the Boots to Business curriculum to veterans of all eras, members of the National Guard and 

Reserve, and military spouses in their local communities.

Programs 

for Veterans

Veteran-owned and service-disabled veteran-owned businesses 

nationwide interested in federal contracting can receive entrepreneurship guidance from the Veteran Federal Procurement Entrepreneurship 

Training Program. This program is administered by the Veteran Institute 

for Procurement, which has three training programs to assist veterans, 

VIP START, VIP GROW, and VIP INTERNATIONAL.

The Women Veteran Entrepreneurship Training Program

serves women who are veterans, service members, and spouses of 

service members and veterans as they start or grow their business.

Loan Fee Relief

To encourage lending to veterans who want to start or grow their 

businesses, the SBA reduces upfront guarantee fees on select loans. 

That means the cost savings will be passed down to you, 

the eligible veteran. To learn about this loan fee relief, contact 

your local SBA district office or ask your SBA Lender about the

Veterans Advantage program.

Interested in doing 

business with the 

government? 

Learn about the Service-Disabled 

Veteran-Owned Small Business Concern 

contracting program on page 48.

Have an employee 

who was called to active duty?

Ask your SBA Lender about the Military Reservist 

Economic Injury Disaster Loan Program. It provides 

loans up to $2 million to small businesses for working 

capital caused by the loss of an essential employee 

called to active duty in the National Guard or Reserve.

Jack Goodison, a veteran, grew his business 

in Rhode Island, J. Goodison Co., with the 

help of an SBA-guaranteed 504 loan. 

If you are a veteran or a service-disabled veteran, 

there are many opportunities for you and your 

small business.

LOCAL BUSINESS ASSISTANCE
24

The SBA’s free Online Learning Center

courses help you start and grow your 

small business. The Learning Center 

is a great resource for every entrepreneur, especially rural business owners 

looking for easy access to vital business 

training. Courses available include:

• Writing your business plan

• Legal requirements for your small 

business

• Small business financing options

• Digital and traditional marketing to 

win customers

• Your options during a disaster

• Access the SBA’s Learning Center at 

sba.gov/learning.

Aspiring entrepreneurs can learn how 

to launch a business with the Business 

Smart Toolkit. This online workshop 

lays the groundwork, teaching you how 

to build a business that is ready to take 

on credit.

• The three parts of the toolkit:

• Basics of business startup

• Building business credit

• How to find additional small business

support and educational resources

The toolkit can be presented as a class, 

like within a community organization, 

or for small group or individual at-home 

use. The toolkit and instructor guide are 

written so that a community volunteer 

can feel comfortable presenting the 

information. Find the free download at 

sba.gov/businesssmart.

Online Resources 

for Entrepreneurs

Find short courses 

and learning tools 

to start and grow 

your small business 

at the sba.gov 

Learning Center.

Business executives looking for their next 

challenge and the opportunity to take their 

business to the next level will find it with the

SBA’s Emerging Leaders program, 

sba.gov/emergingleaders.

Graduates of Emerging Leaders, an 

intense seven-month entrepreneurship 

program, reported that they have been able 

to grow their businesses and drive economic 

development within their communities. 

Emerging Leaders executives are chosen 

through a competitive selection process. 

The program fosters a learning environment 

that accelerates the growth of high-potential 

small businesses, while providing training 

and peer networking sessions.

Emerging Leaders graduates join a 

network of 5,000 alumni nationwide. Since 

the start of the program, graduates have 

reported gaining more than $300 million 

total in new financing and securing over

$2.16 billion in government contracts.

Entrepreneurs receive business 

counseling and assistance at the 

Philadelphia SBA district office in 

King of Prussia.

Programs for 

Entrepreneurs

SBA’s Emerging Leaders program helps grow businesses.

LOCAL BUSINESS ASSISTANCE
 25

American Indians, Alaska Natives, and Native Hawaiians seeking 

entreprenurial development training can start and grow their business with the help of these SBA-supported programs. The 

SBA, sba.gov/naa, also consults with tribal governments prior 

to finalizing SBA policies affecting tribes.

The Cherokee Nation

Tahlequah, Oklahoma

Receive executive coaching in financial management, sales, marketing

and product management. Visit cherokee.org/contact.aspx.

Oregon Native American Business and 

Entrepreneurial Network

Portland, Oregon & Tulsa, Oklahoma

Develop your business on native lands and find peer mentoring that

focuses on building native microenterprise throughout Oregon, 

Oklahoma, Texas and New Mexico. Visit onaben.org.

Rural Enterprises of Oklahoma, Inc. (REI Oklahoma)

Durant, Oklahoma

Do you need business counseling, 8(a) certification assistance and

Programs for 

Native Americans

other training? The organization has two Native American business 

resource centers in Oklahoma. Visit reiok.org.

The Native American Development Corporation 

North Billings, Montana

Receive counseling in government contracting through the SBA’s 8(a) 

program and other federal and state programs. Register to attend 

networking events, conferences and workshops at 

nadc.ecenterdirect.com/signup.

Hi'ilei Aloha LLC

Honolulu, Hawaii

Do you have an idea and want to see if it could become a successful 

business? For the next entrepreneurship course for Native Hawaiians, 

visit hiilei.org.

Indian Dispute Resolution Services, Inc. 

Plymouth, California

Tribal members in California, Nevada, and Oregon can receive computer accounting and business training through the microenterprise 

initiatives at idrsinc.org.

The SBA helps American Indians, Alaska Natives, and Native Hawaiians 

start and grow their businesses. iStock.com/ LaraBelova

LOCAL BUSINESS ASSISTANCE
26

FACEBOOK BLUEPRINT

We’re Builders

at Heart

Building a successful business is no easy feat. You’re responsible for managing financing, cashflow, 

hiring, payroll, taxes—all of which are areas that are challenging enough on their own before you take 

into account the efforts required to find and retain profitable customers.

Whether your business is creating products or offering services,

you’ll need to build your brand and find a way to reach your most

valuable customers and prospects. 

Like you, we’re builders at heart. At Facebook, we’ve built a 

company that connects billions of people around the world. Our 

teams are constantly iterating, solving problems and working 

together to empower people to build community and connect to 

one another in meaningful ways. 

We’ve also built powerful tools that help millions of small 

businesses to expand their reach, find new customers, and

subsequently drive transactions and build lasting

relationships with them. 

For example, Lloyd Taco, a food truck and restaurant company 

based in Buffalo, New York, built their business from scratch

using a Facebook Business Page (and Page tools) as their go-to 

platform for engaging with the community. The actions they took 

on their page included announcing the truck’s whereabouts, 

managing promotions and communicating directly with 

customers. As of mid-2018, the company reported:

• 37% of new customers learned about Lloyd Taco from Facebook

• 42,000 people reached per week, on average

• 15 hours saved per week by prescheduling Facebook

post publishing

While it’s easier than ever before to make your small business 

brand big by leveraging mobile technology and social media, we 

know it can be daunting for entrepreneurs and owners who are 

not experienced digital marketers. 

That is why we created Facebook Blueprint—a global education 

program that offers free, self-paced courses (online and video).

It will help you master the tools and create effective marketing

on Facebook and Instagram. From Creating a Facebook Business 

Page to Audience Targeting to Campaign Measurement, there’s a 

course for everyone whether you’re a beginner or advanced.

ADVERTISEMENT
 27

FACEBOOK BLUEPRINT

3 Tips

for Building Your

Brand Online

Create a place for people to “meet your business” online

You can create your Facebook Business Page in minutes. It’s 

simple, free, and looks great on both desktop and mobile. 

Be sure to select the Page template and action buttons (e.g. Shop 

Now, Send a Message, Write a Recommendation) that make the 

most sense for your business.

Build an active and engaged audience for your business

Grow your audience by inviting people who may be 

interested in what you have to offer to like your Business

Page. Your audience will likely consist of a wide variety of 

people — friends or family who are fans of your product/

content, potential customers, current customers and former 

customers. Posting on your Business Page is a great way to let 

your customers and fans know what your business is up to. 

Keep customers interested and engaged with product or service 

updates, special promotions, event notifications and more.

Manage many aspects of your business from your Page

In addition to posting, there are many more ways for you 

to use your Page to manage your business:

• Encourage customers to take specific actions - Drive 

more transactions with Page features tailored for 

your business type. For example, you can schedule 

appointments or take reservations, drive people to your 

website’s shop or donate page, or provide a link for your 

app or game to encourage people to download.

• Offer great customer service - People can communicate 

with your business through Messenger—it’s a familiar 

and convenient way to answer questions or help out a 

customer. You can even create and save responses to 

common inquiries to cut down on response time. 

• Post an open job - Reach qualified job candidates

where they’re already spending their time—on 

Facebook. You can post job opportunities on your 

Business Page for free.

• Share on offer - Create coupons and discounts right 

from your Page to let people know about specials and 

deals—it can help you re-engage existing customers and 

attract new ones.

• Promote an event - If you’re hosting an event for your 

business, you can use Facebook Events to spread the 

word. Share key details (time, location, etc.), increase 

attendance and sell tickets.

• Sell things on Marketplace - Connect your products 

and services to your local community by listing things to 

Facebook Marketplace. You can target buyers on the go 

with mobile-friendly listings.

https://fb.me/start-your-learning-here

Download and print your free ‘Grow 

Your Business’ digital infographic which 

provides a list of recommended online 

courses for 6 marketing challenges 

commonly faced by businesses.

Want to grow your

business but don’t

know where to start?

You’re building a business, which means you’re also building your brand. These days, the first place 

people look when learning more about a business is online, and having a Facebook Business Page

gives you a chance to make important information about your business easily accessible.

Here are 3 tips to set up your Facebook Business Page (and to make the most of Page tools) so you can be 

on your way to reaching your business goals.

ADVERTISEMENT ADVERTISEMENT

This is a paid advertisement. The inclusion of this paid 

advertisement in the SBA Small Business Resource Guide does 

not indicate SBA’s endorsement of the company, its owner, or its 

advertised products or services.
28

When Garrett Marrero 

and Melanie Oxley 

applied for loans to buy 

a brewpub in Maui in 

2004, it didn’t go well.

“We got laughed out of every bank in 

the state,” Marrero likes to say. 

As it turns out, they would have been a 

good risk. Over the past 14 years, Marrero 

and Oxley have built an operation that 

employs hundreds, sells internationally, 

and enriches its community. They were 

recognized by the U.S. Small Business 

Administration in 2017 as National Small 

Business Persons of the Year.

A California native, Marrero grew up 

in a family that appreciates craft beer. He 

tried homebrewing in high school and had 

A Good Risk

An SBA loan guarantee helps Hawaii entrepreneurs Garrett Marrero 

and Melanie Oxley hop up their brewing operation.

friends who brewed. “When I traveled, 

experiencing the local beer was always 

important to me,” he says. “So when I 

came to Hawaii, I thought the local beer 

was ridiculous. I knew I could put people 

together to make great beer.”

He and Oxley were living and 

working in California and, in 2004, 

decided to move to Hawaii and brew 

beer. They learned that the Fish and 

Game Brewing Company on Maui was 

for sale. Since banks wouldn’t finance 

the inexperienced entrepreneurs, 

they sold and mortgaged everything 

they could, plundered retirement 

funds, and borrowed from parents and 

grandparents in order to buy the sevenbarrel brewpub and restaurant. 

FUNDING PROGRAMS

Financing Your Small Business

written by Pam Kasey
 29

FUNDING PROGRAMS

bryan berkowitz

Maui Brewing Company's 

Kihei brewery “I had that typical young 

male can’t-go-wrong kind of 

attitude, but I think Melanie 

was more nervous.” Marrero 

recalls. “It was a little scary. 

But we both took it as extra 

motivation to succeed—we 

couldn’t fail our family and 

our friends.”

The couple were new to 

entrepreneurship, but they 

applied a strong work ethic 

and good business sense to 

the task. They quickly set up 

a 25-barrel brewhouse and, in 

2007, were among the earliest 

small breweries to distribute 

in cans—a move that 

craft breweries have since 

embraced as both financially 

and environmentally sound. 

And having savvily gotten 

a right of first refusal 

on adjacent units, they 

expanded. By 2012, they’d 

grown from 5,000 to 13,000 

square feet. “We flat-out 

needed more space,” Marrero 

says. 

This time, they approached 

the SBA for help. “The way 

it works is, you have to have 

the financing through an 

SBA lending partner—a local 

bank—and then the SBA 

guarantees part of the loan,” 

Marrero says. Maui Brewing 

took out a multimilliondollar loan to buy land and 

build a building for 25- and 

50-barrel brewhouses down 

the road in Kihei. “We would 

not have been approved for 

such a loan without the SBA.”

Maui Brewing Company’s 

six year-round beers include 

its signature Pineapple Mana 

Wheat and Coconut Hiwa 

Porter which, like many of its 

seasonal brews, use locally 

grown ingredients. “They 

always say small business is 

the backbone of America; I 

think farmers even more so,” 

Marrero says. 
30

SBA 

Guaranteed 

Loans

For small business entrepreneurs who 

cannot get traditional forms of credit, an 

SBA-guaranteed loan can fill that need.

The SBA guarantees loans made by lending 

institutions to small businesses that would 

not otherwise be able to obtain financing.

The lender works with applicants to determine the best option for the small business. 

For those who are eligible and cannot obtain 

conventional financing with reasonable rates

and terms, the guarantee reduces a lender’s 

risk of loss in the event of a default on the 

loan. The SBA guarantee is conditional on the 

lender following SBA program requirements. 

Just like with any other loan, you make your 

loan payments directly to your SBA Lender in 

accordance with your terms.

Visit your local SBA office for a 

lender referral, or use Lender Match, 

sba.gov/lendermatch.

The SBA's online tool connects 

entrepreneurs with SBA Lenders 

interested in making small business 

loans in your area.

Melanie Oxley and 

Garrett Marrero

“We brew our seasonal POG IPA with passionfruit, orange, and 

guava juice, locally grown. Integrating that into a style that dates 

back to the 1600s, an IPA, makes it unique.”

Today the operation consists of the Kihei brewery and three 

restaurants: the original location, one established on the island 

of Oahu in 2017, and one opened at the brewery in early 2018. The 

company distributes in 23 states and internationally. By year-end, 

Marrero expects to have a fourth restaurant, employ 700 or more, 

and top $20 million in revenue. Later ambitions include distilled 

spirits and craft cocktails in cans.

In addition to supporting Hawaii growers, Maui Brewing offers 

a share of sales to local nonprofits. It also plays an integral role in 

the Maui Brewers Festival, which draws visitors and raises money 

for the Maui Arts and Cultural Center. 

And Marrero shares his hard-won expertise with aspiring 

entrepreneurs. His advice? “Work with several local lenders, but 

definitely involve the Small Business Development Center in your 

area. They’ll help with feasibility studies, putting together a good 

loan package,” he says. “Be clear and concise with your vision, 

and don’t rely on others to sell your story—you are your best 

advocate.”

FUNDING PROGRAMS
 31

SBA Lenders

FUNDING PROGRAMS

Our participating SBA Lenders serve all of South Carolina unless otherwise noted. 

For information, visit sba.gov/sc.

STATEWIDE & OUT OF 

STATE LENDERS

1st Colonial 

Community Bank

(856) 885-2042

1stcolonial.com

Atlantic Capital 

National Association

(855) 693-7422

atlanticcapital

bank.com

Bancorp Bank

(800) 545-0289

thebancorp.com

Bank of America

(800) 432-1000

bankofamerica.com

Bank of George

(702) 851-4200

bankofgeorge.com

BankUnited National 

Association

(877) 779-2265

bankunited.com

BB&T

(888) 228-6654

bbandt.com

BBVA Compass Bank

(800) 266-7277

bbvacompass.com

Byline Bank

(773) 244-7000

bylinebank.com

CBB Bank

(678) 580-5356

cbb-bank.com

Citizens Bank

(843) 657-2001

thecitizensbank.com

City National Bank of 

New Jersey

(800) 966-8262

citynatbank.com

CresCom Bank

(855) 273-7266

haveanicebank.com

Embassy 

National Bank

(800) 560-9883

embassynational

bank.com

Evolve Bank & Trust

(866) 367-2611

getevolved.com

Fidelity Bank

(404) 248-5466

lionbank.com

Fifth Third Bank

(866) 671-5353

53.com

FinWise Bank

(801) 545-6020

finwisebank.com

First Bank 

Financial Centre

(888) 569-9909

fbfcwi.com

First Bank 

of the Lake

(573) 348-2265

firstbanklake.com

First Citizens Bank

(866) 323-4732

firstcitizens.com

First Financial Bank

(877) 322-9530

bankatfirst.com

First Home Bank

(727) 685-2083

firsthomebank.com

First IC Bank

(770) 451-7200

firsticbank.com

First Landmark Bank

(770) 792-8870

firstlandmark.com

Firstrust Savings Bank

(800) 220-2265

firstrust.com

Five Star Bank

(877) 882-5782

five-starbank.com

Florida Capital Bank

(800) 318-3159

floridacapital

bank.com

Georgia Banking Co.

(770) 226-8800

geobanking.com

Harvest Small 

Business Finance

(949) 534-0240

harvestsbf.com

Independence Bank

(877) 621-1776

independencebank.com

Live Oak Banking Co.

(910) 790-5867

liveoakbank.com

Manufacturers and 

Traders Trust

(800) 724-2440

mtb.com

Metro City Bank

(888) 455-4686

metrocitybank.bank

The Mint 

National Bank

(281) 359-6468

themint.bank

Newtek Small 

Business Finance

(212) 356-9500

newtekone.com

NOA Bank

(678) 385-0826

noabank.com

North State Bank

(919) 855-9925

northstatebank.com

Pacific City Bank

(213) 210-2000

paccity.net

Quantum 

National Bank

(888) 451-0530

quantumbank.com

Radius Bank

(312) 767-2665

radiusbank.com

ReadyCap Lending

(800) 713-4984

readycaplending.com

Renasant Bank

(800) 680-1601

renasantbank.com

Small Business 

Assistance Corp.

(912) 232-4700

sbacsav.com

South Coast 

Bank & Trust

(912) 264-8887

southcoastbank

andtrust.com

South State Bank

(800) 277-2175

southstatebank.com

Spirit of Texas

(877) 302-1836

sotb.com

State Bank & Trust

(800) 295-6920

statebt.com

Stearns Bank 

National Association

(800) 320-2899

stearnsbank.com

Synovus Bank

(800) 708-5687

synovus.com

TD Bank 

National Association

(888) 751-9000

tdbank.com

Touchmark 

National Bank

(770) 407-6700

touchmarknb.com

United Midwest 

Savings Bank

(614) 225-9728

umwsb.com

Wells Fargo Bank 

National Association

(800) 869-3557

wellsfargo.com
32

FUNDING PROGRAMS

West Town 

Bank & Trust

(855) 884-0744

westtownbank.com

AIKEN

Coastal Carolina 

National Bank

128 Laurens St. 

Northwest

(803) 644-9550

myccnb.com

Cornerstone Bank —

First Community Bank

407 Silver Bluff Road

Southwest

(803) 293-2400

firstcommunitysc.com

Regions Bank

107 Chesterfield

Street South

1799 Whiskey Road

(800) 734-4667

regions.com

ANDERSON

Countybank

300 N. Main St.

(864) 622-2695

ecountybank.com

Entegra Bank

602 N. Main St.

(864) 716-4115

entegrabank.com

People’s Bank

peoplesbanksc.com

1921 E. Greenville St. 

(864) 222-2601

3010 S. Main St. 

(864) 296-3480

3901 Clemson Blvd. 

(864) 261-3211

3009 Whitehall Road 

(864) 222-4038

SunTrust Bank

suntrust.com

3898 Liberty Highway 

(864) 844-8127

907 N. Main St. 

(864) 760-6255

BAMBERG

Enterprise Bank 

of South Carolina

2727 Main Highway

(803) 245-5171

ebsc.bank

BARNWELL

Enterprise Bank 

of South Carolina

287 Main St.

(803) 245-5171

ebsc.bank

Regions Bank

1680 Jackson St.

(800) 734-4667

regions.com

BLACKSBURG

First National Bank 

of Pennsylvania

207 W. Cherokee St.

(864) 839-2265

fnb-online.com

BLACKVILLE

Enterprise Bank 

of South Carolina

227 Main St.

(803) 284-2258

ebsc.bank

BLUFFTON

SunTrust Bank

suntrust.com

21 William Pope Drive 

(843) 706-7920

2 Westbury Parkway 

(843) 815-9600

BLYTHEWOOD

First Community Bank

201 Main St.

(803) 726-6300

firstcommunitysc.com

BOILING SPRINGS

First Tennessee

3090 Boiling 

Springs Road

(864) 578-8600

firsttennessee.com

CAMDEN

Cornerstone Bank — 

First Community Bank

631 West DeKalb St.

(803) 432-7575

firstcommunitysc.com

CHAPIN

Cornerstone Bank —

First Community Bank

127 Amicks Ferry Road

(803) 345-5952

firstcommunitysc.com

CHARLESTON

Pinnacle Bank

pnfp.com 

134 Meeting St. (843) 

769-0999

1503 Old Towne Road 

(843) 852-6400

291 East Bay St. 

(843) 606-9166

329 Folly Road 

(843) 735-5360

802 Savannah Highway 

(843) 571-6097

SunTrust Bank

suntrust.com

162 Seven Farms Drive, 

suite 200 

(843) 654-6270

276 E Bay St. 

(843) 937-8917

850 Folly Road 

(843) 779-3425

1923 Sam Rittenberg 

Blvd. (843) 619-4326

CHERAW

First Bank

901 Chesterfield

Highway

(843) 537-7656

localfirstbank.com

CHESNEE

Entegra Bank

110 S. Alabama Ave.

(864) 461-2287

entegrabank.com

SunTrust Bank

303 S. Alabama Ave.

(864) 703-9250

suntrust.com

CLEARWATER

Regions Bank

4385 Jefferson Davis

Highway

(800) 734-4667

regions.com

CLEMSON

SunTrust Bank

1051 Tiger Blvd.

(864) 986-3061

suntrust.com

COLUMBIA

Ameris Bank

1333 Main St.

(803) 765-1600

amerisbank.com

Business Development 

Corp. of South Carolina

Enoree Building

111 Executive Center 

Drive, suite 225

(803) 798-4064

business

development.org

Capital Bank

capitalbank-us.com

1320 Man St., suite 175 

(803) 779-0411

4840 Forest Drive 

(803) 748-7799

10134 Two Notch Road 

(803) 779-6670

Coastal Carolina 

National Bank

1219 Assembly St., 

suite 101

(803) 733-2582

myccnb.com

Cornerstone BankFirst Community Bank

4404 Forest Drive 

(803) 790-0100

firstcommunitysc.com

First Tennessee Bank 

National Association

firsttennessee.com

1320 Main St., suite 175 

(803) 779-0411

1340 Sumter St. 

(803) 779-0411

10134 Two Notch Road 

(803) 779-6670

4840 Forest Drive 

(803) 748-7799

Regions Bank

1010 Gervais St.

149 Columbiana Drive

(800) 734-4667

regions.com

United 

Community Bank

1523 Huger St.

(803) 461-3801

ucbi.com

CONWAY

Coastal Carolina 

National Bank

1106 Third Ave.

(843) 488-2800

myccnb.com

DENMARK

Enterprise Bank 

of South Carolina

4668 Carolina Highway

(803) 793-5018

ebsc.bank

DILLON

First Bank

localfirstbank.com

101 W. Main St. 

(843) 841-7656

206 E. Monroe St. 

(843) 841-9955

EASLEY

Cornerstone Bank —

First Community Bank

1670 E. Main St. 

(864) 306-1444

firstcommunitysc.com
 33

FUNDING PROGRAMS

Pinnacle Bank

6602 Calhoun Memorial 

Highway

(864) 306-2540

pnfp.com

SunTrust Bank

201 E. First Ave.

(864) 644-9909

suntrust.com

EHRHARDT

Enterprise Bank 

of South Carolina

13497 Broxton Bridge 

Road

(803) 267-3191

ebsc.bank

GAFFNEY

First National Bank 

of Pennsylvania

207 W. Cherokee St.

(864) 839-2265

fnb-online.com

GARDEN CITY

Coastal Carolina 

National Bank

2961 Highway 17 South

(843) 839-3066

myccnb.com

PNC Bank

701 Gervais St.

(877) 287-2654

pnc.com

GOOSE CREEK

Pinnacle Bank

597 Old Mount Holly 

Road, suite 200

(843) 553-0021

pnfp.com

SunTrust Bank

539 St. James Ave.

(843) 619-4366

suntrust.com

GREENVILLE

Aquesta Bank

27 Cleveland St.

(843) 242-1555

aquesta.com

Bank of Travelers Rest

bankoftravelers

rest.com

2021 N. Pleasantburg 

Drive (864) 244-4380

201 Pelham Road 

(864) 298-0040

5101 Old Buncombe 

Road (864) 246-6702

6204 White Horse Road 

(864) 295-0008

1041 Verdae Blvd. 

(864) 720-1100

217-B E. Washington St. 

(864) 282-2322

Coastal Carolina 

National Bank

416 E. North St.

(864) 278-0600

myccnb.com

Cornerstone BankFirst Community Bank

45 Farrs Bridge Road

(864) 294-9711

firstcommunitysc.com

Countybank

3431 Pelham Road

(864) 335-2450

ecountybank.com

Entegra Bank

501 Roper 

Mountain Road

(864) 255-9035

entegrabank.com

First Tennessee Bank

3401 Pelham Road

(864) 213-9109

firsttennessee.com

Pinnacle Bank

pnfp.com

2415 Laurens Road

(864) 234-5556

550 E. McBee Ave. 

(864) 250-9800

3900 Pelham Road 

(864) 315-1041

SunTrust Bank

suntrust.com

55 Farrs Bridge Road 

(864) 315-3029

201 S. Pleasantburg 

Drive (864) 729-6386

1610 Woodruff Road

(864) 729-6386

1715 Augusta Road 

(864) 729-6112

2111 Wade Hampton 

Blvd. (864) 729-6455

300 E. McBee Ave. 

(864) 255-7140

GREENWOOD

Countybank

419 Main St.

(864) 942-1569

ecountybank.com

GREER

Pinnacle Bank

530 W. Wade 

Hampton Blvd.

(864) 801-1165

pnfp.com

SunTrust Bank

655 W. Wade 

Hampton Blvd.

(864) 655-6547

suntrust.com

HAMPTON

Regions Bank

403 First St. East

(800) 734-4667

regions.com

HILTON HEAD

Pinnacle Bank

1000 William Hilton 

Parkway

(843) 842-3232

pnfp.com

SunTrust Bank

suntrust.com

1 Lafayette Place 

(843) 342-8023

2 Greenwood Drive 

(843) 342-8100

INMAN

SunTrust Bank

24 S. Main St.

(864) 708-6001

suntrust.com

IRMO

Ameris Bank

1200 Lake Murray Blvd.

(803) 749-5230

amerisbank.com

JOHNS ISLAND

Pinnacle Bank

2753 Maybank Highway

(843) 559-5029

pnfp.com

JOHNSTON

Regions Bank

400 Lee St.

(800) 734-4667

regions.com

LAURENS

SunTrust Bank

201 W. Main St.

(864) 766-6003

suntrust.com

LEXINGTON

Ameris Bank

701 W. Main St.

(803) 808-4220

amerisbank.com

MARIETTA

Bank of Travelers Rest

3211 Geer Highway

(864) 836-8187

bankoftravelers

rest.com

MAULDIN

Pinnacle Bank

787-H E. Butler Road

(864) 272-0825

pnfp.com

SunTrust Bank

203 W. Butler Ave.

(864) 315-3070

suntrust.com

MONCKS CORNER

Pinnacle Bank

337 E. Main St.

(843) 899-7755

pnfp.com

MOUNT PLEASANT

First Tennessee Bank 

National Association

firsttennessee.com

28 Bridgeside Blvd., 

suite 100 

(843) 972-6000

651 Johnnie Dodds Blvd. 

(843) 971-6977

Palmetto Heritage 

Bank & Trust

3102 Highway 17 North

(843) 884-2404

palmettoheritage

bank.com

Pinnacle Bank

pnfp.com

602 Coleman Blvd. 

(843) 971-6542

3305 S. Morgans Point 

(843) 887-3832

SunTrust Bank

suntrust.com

3072 Highway 17 North 

(843) 654-6250

404 Johnnie Dodds 

Blvd. (843) 800-3047

MURRELLS INLET

Aquesta Bank

870 B Inlet Square 

Drive (843) 651-7111

aquesta.com

Palmetto Heritage 

Bank & Trust

4375 Highway 17 (843) 

651-6674

palmettoheritage

bank.com

Pinnacle Bank

11975 Hwy 17 Bypass

(843) 979-5300

pnfp.com

MYRTLE BEACH

Coastal Carolina 

National Bank

1012 38th Ave. North

(843) 839-2265

myccnb.com
34

FUNDING PROGRAMS

Pinnacle Bank

pnfp.com

3064 Dick Pond Road 

(843) 294-6000

3751 Robert M. 

Grissom Parkway 

(843) 626-2265

Sandhills Bank

sandhillsbank.com

610 International 

Drive (843) 903-1903

273 Carolina Forest 

Blvd. (843) 903-3223

4600 Hwy. 17 South 

(843) 293-7595

North Augusta

734-4667 Bank

432 W Ave.

(800) 734-4667

734-4667.com

North Charleston

Aquesta Bank

4000 Faber Place 

Drive, suite 300

(843) 242-1555

aquesta.com

Pinnacle Bank

8420 Dorchester 

Road

(843) 207-0300

pnfp.com

SunTrust Bank

suntrust.com 

8610 Dorchester 

Road (843) 619-4386

2089 Ashley 

Phosphate Road 

(843) 806-5004

NORTH MYRTLE BEACH

Coastal Carolina 

National Bank

1100 Highway 17 

North

(843) 839-3055

myccnb.com

Pinnacle Bank

710 Highway 17 

North (843) 663-2265

pnfp.com

Sandhills Bank

sandhillsbank.com

1020 Highway 17 

North (843) 280-2265

4400 Highway 17 

South (843) 663-5600

PAWLEY’S ISLAND

Palmetto Heritage 

Bank & Trust

10919 Ocean 

Highway

(843) 237-7779

palmettoheritage

bank.com

PICKENS

SunTrust Bank

210 W. Cedar Rock St.

(864) 878-3544

suntrust.com

PIEDMONT

SunTrust Bank

11001 Anderson Road

(864) 729-6435

suntrust.com

RIDGEFIELD

Enterprise Bank of 

South Carolina

102 N. Main St.

(843) 871-0225

ebsc.bank

RIDGELAND

Regions Bank

11004 N. Jacob 

Smart Blvd.

(800) 734-4667

regions.com

SALUDA

SunTrust Bank

300 N. Main St.

(864) 405-6000

suntrust.com

SENECA

SunTrust Bank

1439 Sandifer Blvd.

(864) 364-6075

suntrust.com

SIMPSONVILLE

Regions Bank

2565 Woodruff Road

(800) 734-4667

regions.com

SunTrust Bank

124 NE Main. St.

(864) 757-7128

suntrust.com

SPARTANBURG

First Tennessee Bank

firsttennessee.com

215 N. Pine St. 

(864) 948-9001

2680 Reidville Road 

(864) 576-7220

Pinnacle Bank

531 E. Main St.

(864) 573-6347

pnfp.com

Regions Bank

235 S. Pine St.

(800) 734-4667

regions.com

SPRINGFIELD

Enterprise Bank of 

South Carolina

7222 Festival 

Trail Road

(803) 258-3211

ebsc.bank

SunTrust Bank

suntrust.com

7801 Warren H. 

Abernathy Highway 

(864) 381-6660

1742 E. Main St. 

(864) 381-6700

350 E. Henry St. 

(864) 573-7214

SUMMERVILLE

Pinnacle Bank

203 N. Main St.

(843) 873-5330

pnfp.com

Regions Bank

201 S. Main St.

(800) 734-4667

regions.com

SunTrust Bank

741 N. Main St.

(843) 879-5291

suntrust.com

TAYLORS

Bank of 

Travelers Rest

6000 Wade Hampton 

Blvd.

(864) 879-7771

bankoftravelers

rest.com

TEGA CAY

First National Bank 

of Pennsylvania

207 W. Cherokee St.

(864) 839-2265

fnd-online.com

First Tennessee 

Bank National 

Association

1115 Stonecrest Blvd.

(803) 548-6666

firsttennessee.com

TRAVELERS REST

Bank of 

Travelers Rest

bankoftravelers

rest.com

42 Plaza Drive 

(864) 834-9031

500 Roe Center 

Court (864) 834-9061

WALTERBORO

Enterprise Bank 

of South Carolina

776 Bells Highway

(843) 549-1120

ebsc.bank

WEST COLUMBIA

Cornerstone 

Bank-First 

Community Bank

506 Meeting St.

(803) 791-8810

firstcommunity

sc.com

WILLISTON

Enterprise Bank 

of South Carolina

12960 Main St.

(803) 266-7474

ebsc.bank

SunTrust Bank

1 N. Hamilton St.

(864) 841-3114

suntrust.com

Participating 

Certified 

Development 

Companies

Appalachian 

Development Corp.

Greenville

(864) 382-2350

adcloans.com

Business Expansion 

Funding Corp.

Serving Chester, 

Chesterfield, 

Lancaster, and 

York counties

(704) 414-3000

befcor.com

Carolina 

Business Capital

(704) 372-1280

cbc504.com

Catawba Regional 

Development Corp.

215 Hampton St. #200

Rock Hill

(803) 327-9041

catawbacog.org

Certified 

Development Corp.

Enoree Building

111 Executive Center 

Drive, suite 225

Columbia

(803) 798-4064

business

development.org

Provident Business 

Financial Services

3937 Sunset Blvd., 

suite D

West Columbia

(803) 791-0071

providentbfs.com

Participating 

Microlenders

Beaufort County 

Black Chamber 

of Commerce

Serving Allendale, 

Bamberg, Barnwell, 

Beaufort, Colleton, 

Jasper, and 

Orangeburg counties

Beaufort, SC

(843) 986-1102

Community Works

Greenville, SC

(864) 235-6331

communitywork

scarolina.org

Local 

Development Corp.

Serving Berkley, 

Charleston, Colleton, 

Williamsburg, and 

Dorchester counties

Charleston, SC

(843) 724-3796

charlestonldc.com

Small Business 

Investment 

Corporations

Route 2 

Capital Partners

route2capital.com

110 E. Court St., 

suite 501

Greenville

(864) 484-9370

info@route2

capital.com

Charleston

200 Meeting St., 

suite 403

(854) 529-9550
 35

Small businesses can enter and excel in the international marketplace using State Trade 

Expansion Program grants and training. To find out if your state is participating visit

sba.gov/internationaltrade. You can:

• Learn how to export

• Participate in foreign trade missions and trade shows

• Obtain services to support foreign market entry

• Translate websites to attract foreign buyers

• Design international marketing products or campaigns

Financing for International Growth

Ask your SBA Lender about the Export Express Loan for enhancing your export development.

Max loan amount: $500,000

Interest rate: negotiated between lender and business, fixed or variable rate, typically not to

exceed prime + 6.5 percent

Terms based on use of loan: for real estate, up to 25 years; for equipment, up to 10 years; for 

lines of credit, up to seven years

Guarantee: up to 90 percent

The International Trade Loan can position you to enter or expand into international markets. It can also help you better compete if your business has been adversely affected by

unfair trade practices.

Max loan amount: $5 million

Interest rate: negotiated between lender and business, fixed or variable, not to exceed prime

+ 2.75 percent

Terms based on use of loan: for real estate, up to 25 years; for equipment, up to 10 years

Guarantee: up to 90 percent

Exporters looking to meet their short-term capital needs can use the Export Working Capital 

Program.Use this loan to purchase inventory to make the products you export orto finance

receivables. You can apply forlines of credit priorto finalizing an export sale or contract.

Max loan amount: $5 million

Interest rate: negotiated between lender and business, fixed or variable rate

Terms: typically one year, cannot exceed three years

Guarantee: up to 90 percent

Benefits of 

Exporting

Nearly 96 percent of consumers 

live outside the U.S., and twothirds of the world’s purchasing 

power is in foreign countries. If 

you’re a small business owner, 

here’s how to work with the SBA 

for your trade needs.

STEP 1 GET COUNSELING

STEP 3 GET FUNDING

One-Stop Exporting Shops

Find an SBA professional in one of these 21 U.S. Export Assistance Centers located 

in major metro areas, sba.gov/tools/local-assistance/eac. The centers are also 

staffed by the U.S. Department of Commerce and, in some locations, the ExportImport Bank of the United States and other public and private organizations.

Visit your local Small Business Development Center (see page 8) for free exporting 

assistance from professional business counselors.

If you need assistance with international trade regulations, the SBA can be your 

advocate in foreign markets. Call toll free (855) 722-4877 or email international@sba.

gov. Include your name, company name, mailing address, 

and phone number, as well as a brief description of the trade problem or challenge 

you are encountering.

STEP 2 FIND BUYERS

Why Export?

You want to increase revenue. Exporting would make you less 

dependent on any one market. It’s also a smart option for stabilizing 

sales if your product is seasonal. 

FUNDING PROGRAMS
36

Investment 

Capital

If you own a U.S. small 

business, you could 

receive capital from 

a Small Business 

Investment Company

that is regulated by the 

SBA. The agency provides 

guarantees to investment 

companies with financing expertise in certain 

sectors or industries. 

These investment companies then use private 

funds, along with SBAguaranteed capital, to 

invest in qualifying small 

businesses. The small 

business then receives a 

loan, equity, or a combination of both. Equity is 

a share of ownership an 

investment company gets 

in a business.

Mature, profitable businesses with sufficient cash

flow to pay interest are

more likely to receive capital from a Small Business 

Investment Company. 

Each one has its own 

investment profile in terms

of targeted industry, geography, company maturity, 

the types and size of 

financing they provide. To

search the SBIC directory, 

visit Investment Capital 

under Funding Programs 

at sba.gov.

Looking for investors? Consider a Small Business Investment Company.

FUNDING PROGRAMS
 37

FUNDING PROGRAMS

R&D Opportunities for 

Next Gen Entrepreneurs

If you are engaged in high-risk research and development, your small business may be eligible 

to compete for funding to develop your tech and get it to market.

Do you work in one of these areas?

» Advanced materials

» AgTech

» Artificial intelligence

» Biomedical

» Cybersecurity

» Energy

» First response

» National security

» Space exploration

The Small Business Innovation Research and the Small Business 

Technology Transfer programs, also called America’s Seed Fund, 

provide more than $2.5 billion in early stage capital through more 

than 4,000 new awards annually.

How it works

Every year, 11 participating federal agencies announce topical areas 

that address their R&D needs. Eligible businesses submit proposals 

through a competitive process, and if successful, enter a three 

phase awards program.

» Phase I, the proof-of-concept stage, typically lasts from 6-12 

months, often providing $100,000-$225,000

» Phase II, the full R&D period, lasts about 24 months and 

typically provides $600,000-$1.5 million.

» Phase III, the commercialization stage, where you seek public 

or private funds for your venture

How else does your startup benefit? The funding agency does not

take an equity position or ownership of your business. The federal 

government also has a protection period in which it does not 

disclose your reports and data.

Visit sbir.gov to find funding opportunities and helpful program

tutorials, as well as past award winners, such as Qualcomm, iRobot, 

Illumina, and Symantec.

Participating agencies:

» Department of Agriculture

» Department of Commerce

» National Institute of Standards and Technology

» National Oceanic and Atmospheric Administration

» Department of Defense

» Department of Education

» Department of Energy

» Department of Health and Human Services

» Department of Homeland Security

» Department of Transportation

» Environmental Protection Agency

» NASA

» National Science Foundation

OUSA CHEA/UNSPLASHALEXANDRE DEBIÈVE/UNSPLASH
38

What is the American 

dream? To many, it is the 

ideal that every United 

States citizen has an 

equal opportunity to achieve success 

and prosperity through hard work, 

determination, and initiative. Ember 

Industries, Inc., a family-owned company 

in San Marcos, Texas, exemplifies that 

national ethos. Established in 1986 as 

a small contract design firm, Ember 

Industries has grown into a full-service 

contract manufacturing business that 

builds, tests, and calibrates electronic 

devices and wire and cable assemblies. 

The company’s products are used to build 

things like above-ground tank monitors 

for oil fields and Lockheed military 

drones. In 2015, the company was on 

track to have one of its most profitable 

years, and then disaster struck.

 “Things were going great. Honestly, 

the factory was going wonderfully. In 

June we were on pace for a record month, 

but instead the Blanco River decided to 

come over its banks,” says President Rob 

Leonardis.

In May 2015, the Blanco River flooded 

disastrously, overflowing its banks to 

record levels and destroying more than 

1,000 homes. Ember Industries suffered 

catastrophic damages. “We had 32 inches 

of water in the entire building. Basically, 

it ruined all of our manufacturing 

equipment,” says Vice President of 

Finance and Administration Frank 

Leonardis. “It shut us down. It was pretty 

devastating.” 

The flood destroyed about one-third 

of Ember’s raw-material inventory and 

all of the work in progress as well as 

office furniture, computers and servers, 

and all of the company’s high-tech 

production equipment. “A week into it, 

our dad came to us and asked, should we 

be trying to do this? Should we even be 

trying to rebuild this?” Rob Leonardis 

recalls. But instead of shutting the doors, 

the company was approved for a $2 

million SBA disaster loan, and just six 

weeks after the flood, Ember Industries 

was back to full production. 

In 2017, Ember Industries received the 

SBA Phoenix Award for Outstanding Small 

Business Disaster Recovery. “Without the 

SBA loan, we would not have been able 

to survive as a company,” Rob Leonardis 

says. 

“The Office of Disaster Assistance at 

the SBA looks at businesses that have 

suffered through a disaster, recovered, 

and put their employees back to work. 

And Rob’s story about how SBA’s disaster 

loan helped the business recover is one 

of preserving the American dream,” 

explains Bill Koontz, public information 

officer for the Disaster Field Operations 

Center–West.

Rising Tide

Brothers Frank, Greg, 

and Rob Leonardis 

rebuilt their company 

with an SBA loan after 

a devastating flood.

Ember Industries receives SBA’s 2017 Phoenix Award for its recovery 

after a disaster.

written by Nikki Bowman

FUNDING PROGRAMS DISASTER ASSISTANCE
 39

The SBA, the Federal Emergency Management Agency and other 

organizations work together to provide assistance to those affected by 

a disaster. Once immediate safety and security needs are met, the SBA 

helps get you and your community back to where you were before the 

disaster. The SBA provides loans to businesses of all sizes, nonprofits, 

homeowners and renters to cover rebuilding costs not covered by 

insurance or other forms of assistance.

Small businesses and nonprofits are also eligible to apply for economic 

injury losses, even if they suffered no physical damages. These direct loans 

come with low-interest rates and long terms. Property owners can also 

secure additional SBA funds to help protect their business or home against 

a disaster. Visit sba.gov/disaster.

After the flood, Ember continued to pay all its employees even though they 

were not able to resume operation immediately. “It is remarkable that Ember 

Industries has come back. It is remarkable they’ve been as successful in the 

wake of this as they have been,” says Koontz. “They haven't just rebuilt, 

they’ve grown bigger and better.” 

“I honestly believe we couldn’t have been able to rebuild without the 

SBA loan,” Rob Leonardis says. “It allowed us to continue to live the 

American dream.”

The President & the 

SBA Administrator 

Can Declare a Disaster

Contact the SBA directly to apply for a disaster 

loan. Businesses of all sizes, nonprofits, homeowners and renters are eligible to apply:

• Online at https://disasterloan.sba.gov/ela/

• Visit a federal/state Disaster Recovery Center 

in your area

• Call our customer service center at 

(800) 659-2955 (TTY: 800-877-8339) and 

ask for an application package to be 

mailed to you 

FEMA grant assistance for homeowners or renters 

is not available under an SBA declaration.

Information needed to get started:

• Address of damaged residence or business and 

contact info

• Insurance information, including type of insurance, policy numbers, amount received

• Household and/or business income

• Routing and bank account numbers

• Description of disaster-caused damage 

and losses

Who to contact after a 

disaster is declared by 

the President

Register with FEMA at disasterassistance.gov, or 

call (800) 621-3362 (TTY: 800-462- 7585), or visit a 

Disaster Recovery Center. Locations can be found 

at fema.gov/drc.

Businesses are automatically referred to 

the SBA. Most homeowners and renters will be 

referred by FEMA to the SBA to apply for disaster 

loan assistance. You must complete the SBA 

application to be considered for assistance. If the 

agency cannot help you with a loan for all your 

needs, the SBA will, in most cases, refer you back 

to FEMA.

Who to contact after a 

disaster is declared by 

the SBA

DISASTER ASSISTANCE FUNDING PROGRAMS
40

Keep in mind

An SBA disaster loan is a 

direct loan from the government. Other organizations may reduce or not 

award you a grant if you 

have received an SBA loan 

or other assistance. Be sure 

to check with other organizations to see how an 

SBA loan might affect your

eligibility for their program.

In general, recovery 

expenses covered by 

insurance, FEMA or other 

forms of assistance may 

reduce the amount provided by your SBA disaster loan.

Verification & Processing

An SBA loss verifier will estimate the total loss to your property damaged by

the disaster.

A loan officer determines your creditworthiness and eligibility after reviewing

any insurance or other recovery funds. The SBA can approve and disburse a loan 

while your insurance recovery is pending. You will be advised in writing of all loan 

decisions.

Terms may go up to 30 years. The SBA sets terms based on each borrower’s 

ability to repay, no early payoff fees or penalties.

Rates are low, based on the type of loan and if you have credit available 

elsewhere.

For Physical Damages

A business of any size and any nonprofit may borrow up to $2 million to repair or

replace damaged or destroyed real estate, machinery and equipment, inventory, 

and other business assets.

A homeowner may borrow up to $200,000 to repair/replace primary residence 

damage.

A homeowner or renter may borrow up to $40,000 to repair/replace damage 

to personal property, including vehicle losses.

For Economic Injury

The SBA also offers Economic Injury Disaster Loans for up to $2 million to help

meet working capital needs caused by a disaster.

Who are eligible: small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most nonprofits.

Economic injury assistance is available regardless of whether the business suffered any property damage.

Closing & Funds Disbursement

Approval decision and disbursement of loan funds is dependent on receipt of 

your documentation.

Be sure to sign your closing documents. This can be done by mail or with an 

SBA representative at a closing center if one is open in your area.

The SBA disburses loan funds as recovery work is completed, items are replaced, 

and/or as funds are needed. The SBA will typically make an initial disbursement of up 

to $25,000, if all requirements are met, within five days of receiving your signed loan

closing documents. Your case manager will schedule subsequent disbursements 

of the full loan amount. Your case manager will work with you to help you meet all 

loan conditions. Your loan may be adjusted after closing according to your changing

circumstances, such as unexpected repair costs or additional insurance proceeds.

How an SBA 

Disaster Loan Works

The SBA provides loans to businesses of all sizes, nonprofits, homeowners and renters 

to cover rebuilding costs not covered by insurance or other forms of assistance.

FUNDING PROGRAMS
 41

How to Prepare 

Your Business 

for an Emergency

The financial cost of rebuilding a business after a disaster can be overwhelming.

However, with a business continuity plan in place, you will be able to rebound 

and reopen quickly. You’ll be in a better position to contribute to the economic 

recovery of your community. First steps include:

Establish a protocol to communicate with employees outside of the office to

ensure they and their families are safe. Test the procedures regularly.

Keep your plan and all related documents in a digital format or in an accessible, protected, off-site location.

Review your insurance coverage

• Contact your insurance agent to find out if your coverage is right for your business; make sure you understand the policy limits and deductibles.

• Ask about business interruption insurance, which compensates you for lost 

income and covers operating expenses if your company has to temporarily 

shut down after a disaster.

Establish a solid supply chain 

If your vital vendors and suppliers are local and the disaster is widespread, you 

will all be in the same situation—struggling to recover. 

• Set yourself up to be able to get key supplies from companies outside your 

area, if possible.

• Create a contact list for important contractors and vendors you plan to use in 

an emergency

• Make sure you know your suppliers’ recovery plans.

Plan for an alternate location

• Do some research in advance of the disaster for several alternative places to 

relocate your company in case a disaster forces you to close your business for 

an extended time. 

• Contact a local real estate agent to get a list of available office space. You

could make an agreement with a neighboring business to share office space.

You could also make plans for employees to telecommute until your office

reopens.

The Ready Business program, 

ready.gov/business, gives 

step-by-step guidance on how 

to prepare your business for 

a disaster. The series includes 

preparedness toolkits for 

earthquakes, hurricanes, 

inland flooding, power 

outages, and severe winds/

tornadoes. Spanish materials 

are available.

FUNDING PROGRAMS
42

Surety Bonds

Surety bonds help small 

businesses win construction, 

supply and service contracts 

by providing the customer with 

a guarantee the work will be 

completed. Many contracts 

require surety bonds, which are 

offered by surety companies.

The SBA guarantee provides an 

incentive for surety companies 

to work with small businesses 

that would normally not be 

able to obtain the bond. Eligible 

small businesses can receive 

the bonding assistance necessary to compete for contracting 

and subcontracting jobs using 

the Surety Bond Guarantee 

Program. This program is aimed 

at small businesses that lack the 

financial resources or performance track record necessary to 

secure bonding through regular 

commercial channels.

Small businesses that often 

come to the SBA for surety 

bonds:

• Startups and firms in business less than three years

• Businesses with credit issues

or internally prepared financial

statements

• Subcontract trades with a 

desire to establish their own 

bonding as a prime contractor

• Those wishing to increase

their current bonding limits

Surety bonds help small businesses win construction, supply, and service contracts.

FUNDING PROGRAMS
 43

For Public and Private Prime 

Contracts and all Subcontracts

For Federal Contracts

The SBA guarantees: bid, payment, performance, and 

ancillary bonds issued by surety companies

Cost of contract: up to $6.5 million

SBA reimburses surety companies in case of default 

90 percent of losses sustained for veteran and service-disabled veteran, minority, 8(a), and HUBZonecertified small businesses; all projects up to $100,000

80 percent for all other small businesses.

The SBA guarantees: bid, payment, performance, 

and ancillary bonds issued by surety companies—

if a guarantee would be in the best interest of the 

government

Cost of contract: up to $10 million

SBA reimburses surety companies in case of default 

90 percent of losses sustained for veteran and service-disabled veteran, minority, 8(a), and HUBZonecertified small businesses; all projects up to $100,000

80 percent for all other small businesses.

Typically, small businesses provide financial statements and other documentation when

applying for surety bond guarantees. This process is streamlined under the SBA’s QuickApp 

program, which is for contracts below $400,000. The streamlined application reduces the normal paperwork to a simple two-page application, and the small business does not need to file

any financials with the SBA.

The SBA partners with 31 surety companies and hundreds of bonding agents. Online applications submitted through SBA authorized agents are approved in less than two days for regular 

applications and within hours for QuickApps. Find authorized agents at sba.gov/osg.

SBA’s QuickApp Program

Questions? 

Do you want to discuss the advantages of the SBA’s Surety Bond Guarantee Program 

or need to locate an SBA authorized agent? Contact a bonding specialist:

Tamara E. Murray

Denver, Colo.

(303) 927-3479

Kevin Valdes

Seattle, Wash.

(206) 553-7277

Jennifer C. Bledsoe

Washington, DC

(202) 205-6153

FUNDING PROGRAMS
44

INTEREST RATE: prime + 6 percent

TERMS: up to 25 years for real estate, 10 years for equipment and 

working capital

GUARANTEE: 75 to 90 percent

Microloan Program

Eligible businesses can startup and grow with working capital or 

funds for supplies, equipment, furniture and fixtures. Borrow from

$500 to $50,000 and access free business counseling from SBA 

microlenders.

INTEREST RATE: loans less than $10,000, lender cost + 8.5 percent; 

loans $10,000 and greater, lender cost + 7.75 percent

TERMS: lender negotiated, no early payoff penalty

504 Certified Development Company 

Loan Program

If you do not qualify for traditional financing, but would like to

purchase/renovate real estate or buy heavy equipment for your 

business, ask about the 504 loan program. It provides competitive 

fixed-rate mortgage financing through an SBA Lender and a Certified

Development Company.

MAX LOAN AMOUNT (up to 40 percent of the total project): up to 

$5 million; $5.5 million for manufacturing or energy public policy 

projects

INTEREST RATE: below market fixed rates for 10, 20 or 25 year terms

TERMS: 20 or 25 years for real estate or long term equipment, 

10 years for general machinery and equipment

GUARANTEE: the SBA Lender provides a senior loan for 50 percent 

of the project cost (with no SBA guarantee); the CDC finances

up to 40 percent in a junior lien position (supported by the SBA 

guarantee)

SPECIAL CONDITION: a minimum borrower contribution, or down 

payment, is required, amounts vary by project but are usually 

10 percent

Need 

Financing?

The 7(a) Loan, the SBA’s Largest 

Financing Program 

If you’re unable to get conventional financing and you meet the

eligibility requirements, you can use a 7(a) to buy real estate, 

equipment, or inventory for your small business. May also be used 

for working capital, to refinance business debt or purchase a small

business.

MAX LOAN AMOUNT: $5 million

INTEREST RATE: generally prime + a reasonable rate capped at 

2.75 percent

TERMS: loan term varies according to the purpose of the loan, 

generally up to 25 years for real estate, 10 years for other fixed

assets and working capital

GUARANTEE: 50 to 90 percent

Caplines

Meet your revolving capital needs with lines of credit. CAPLines can 

be used for contract financing, seasonal lines of credit, builders line

of credit, or for general working capital lines.

SBAExpress Loan

Featuring a simplified process, these loans are delivered by

experienced lenders who are authorized to make the credit decision 

for the SBA. These can be term loans or revolving lines of credit.

MAX LOAN AMOUNT: $350,000

INTEREST RATE: for loans less than $50,000, prime + 6.5 percent; 

for loans of $50,000 and greater, prime + 4.75 percent

TERMS: loan term varies according to the purpose of the loan, 

generally up to 25 years for real estate and 10 years for other fixed

assets and working capital.

GUARANTEE: 50 percent

Community Advantage Program

Financing for women, veterans, low-income borrowers, and minority 

entrepreneurs just starting up or in business for a few years. Receive 

free business counseling as you work with a community-based 

financial institution.

Visit your local SBA office or lender to learn about 

these SBA loan programs.

FUNDING PROGRAMS
 45

My Next 

Career Path

Renee Boyce, president and 

CEO of My Next Career 

Path Staffing, LLC, knows 

firsthand the challenges of 

small business ownership. 

“Some of the biggest challenges are 

getting capital and financing to allow 

us to grow,” he says. “Sometimes it is 

hard to get a seat at the table. As a small 

business, we just need a fair opportunity 

CONTRACTING

Doing Business with the Government

to bid on contracts.”

Founded in 2014 in Las Vegas, Nevada, 

My Next Career Path Staffing (MNCP 

Staffing) is a consulting and staffing 

firm that provides resources to private 

businesses, public sector firms, and 

local, state, and federal government 

agencies nationwide. The company offers 

temporary and permanent recruitment 

or recruitment by project in the fields of 

information technology; engineering; 

medical, clinical, and professional 

services; and sales and marketing, 

and it is known for its IT solutions. The 

company is a certified 8(a), Minority 

Business Enterprise, Disadvantaged 

Business Enterprise (DBE), and Emerging 

Small Business in Nevada as well as a 

certified DBE in Arizona, California, 

Maryland, Oregon, Texas, and Utah.

“My Next Career Path saves 

companies time and money,” Boyce says. 

“Companies often receive hundreds of 

resumes in response to job ads, and it's 

time-consuming to go through them. 

Reviewing resumes to locate the best 

candidates is another full-time job. 

We save time by honing in on the best 

matches for the firm.”

All business owners know that 

making a bad hire is expensive. Not only 

do you spend time and money training 

someone who isn't a fit for the job, but 

then you have to start another candidate 

search, My Next Career Path prides itself 

in locating the candidates who are a 

great match from the start. 

In 2017, Boyce was chosen as the 

SBA Nevada District Office Minorityowned Business of the Year. “The SBA 

has helped me grow my business by 

being a useful resource and providing 

guidance on working in the federal 

space,” says Boyce. My Next Career 

Path became a government contractor in 

2016 and now reports more than 

60 percent of the company's business 

is in the federal arena. 

The SBA is a resource for small 

businesses that are interested in working 

with the government. Boyce says, “It 

takes time and patience to work in the 

federal space. It’s certainly not for every 

business. But by establishing and 

written by Nikki Bowman

This small business has made it their business to provide quality 

staffing in the federal arena. 
46

1. Identify your product or service number at naics.com.

2. Search the FedBizOpps database (fbo.gov) or web.sba.gov/

subnet to see if any federal agencies are looking for your product or service.

3. Attend an SBA district office workshop on contracting. Visit

sba.gov/localassistance, or see pages 16-19, to find your local

office.

4. Talk to a local Small Business Development Center counselor 

(page 8) or visit a Procurement Technical Assistance Program 

adviser for free counseling. Find your closest center at 

aptac-us.org.

5. Obtain a free DUNS number at https://fedgov.dnb.com/

webform.

6. See if you’re eligible for a contracting program and start 

the certification process. All required documents must be

uploaded to certify.sba.gov before submitting an offer on a

contract set aside for a specific program.

7. Register with the System for Award Management 

(sam.gov) to start doing business with the government.

How to 

do business 

with the 

government

The SBA has 

helped me 

grow my 

business 

by being 

a useful 

resource and 

providing 

guidance on 

working in 

the federal 

space.”

Renee Boyce, 

MNCP Staffing president and CEO

building relationships and teaming with 

partners, we’ve learned how to navigate 

the federal arena.” 

Running a small business can be 

challenging but it is also very rewarding. 

Boyce advises other small businesses to 

use the resources available like PTAC, 

SBA, and local business chambers. “It is 

important to build a strong network of 

relationships,” he points out. “Do not 

rule out opportunities to subcontract. It 

will allow you to understand the process 

and gain experience.”

Boyce has big plans for the future. 

“My goal is to continue to grow and 

expand the company globally with even 

more locations nationwide, while still 

delivering value-added services to the 

government and private businesses.”

CONTRACTING
 47

SBA Contracting 

Programs

Your business could earn profit and gain valuable work experience 

by providing goods or services to the government.

The federal government sets aside contracts 

for small business, and these contracting 

programs are designed to help you compete 

for and win federal contracts. Visit SBA.gov/

contracting to learn more about set-asides 

and whether one or more of these government contracting programs is right for your 

business.

All Small Mentor-Protege 

Program 

Looking for an opportunity to partner with 

a more experienced firm for mentorship?

You may find that effort rewarded in the

All Small Mentor-Protege Program, sba.

gov/allsmallmpp. At the same time you’re 

gaining invaluable direction and experience, you and your mentor can compete for 

government contracts, further growing your 

business.

To qualify for this program:

• Proteges must have a mentor prior to 

applying for the program. Visit your 

local SBA office for guidance. Ask about

the SBA’s Resource Partners and the 

Procurement Technical Assistance 

Program for help in connecting you with a 

mentor business.

• You must be certified as a small business

within your NAICS industry classification

and have experience in that field.

• Mentors and proteges must be organized 

for profit or as an agricultural cooperative.

• Mentors cannot own more than 40 percent 

equity in the protege’s business.

• An SBA determination of affiliation must

not exist between the mentor and the 

protege. All Small-approved partnerships 

receive an exclusion of affiliation for contracting purposes.

8(a) Business Development 

Program

If you’re an entrepreneur who is socially and 

economically disadvantaged, you could get 

business training and government contracting assistance through the 8(a) Business 

Development Program, sba.gov/8a. The 

program includes free business development education, training workshops, and 

match-making opportunities with federal 

buyers. Firms owned by Alaska Native 

Corporations, American Indian tribes, Native 

Hawaiian organizations, and Community 

Development Corporations are also eligible 

for 8(a) business development assistance. 

To be eligible for the 8(a) program, your 

small business must meet the following 

criteria:

• Qualify as a small business which is unconditionally owned and controlled by one or 

more socially and economically 

disadvantaged people of good character

Glenn Davis, an 8(a) program graduate, 

operates BranCore, a consulting 

business, out of Richmond, Virginia.

CONTRACTING
48

• Be controlled by a U.S. citizen who lives in 

the United States

• Demonstrate current capacity and potential for success

Socially disadvantaged: those who have 

been subjected to racial or ethnic prejudice or 

cultural bias without regard to their individual 

qualities because of their identity as members 

of certain groups. The following groups of 

people are assumed to be socially disadvantaged: Black Americans, Native Americans, 

Alaska Natives, Native Hawaiians, Hispanic 

Americans, Asian Pacific Americans, and

Subcontinent Asian Americans. A person who 

is not a member of one of these groups must 

establish that it is more likely than not that 

they have suffered disadvantage.

Economically disadvantaged:

those whose ability to compete in the 

marketplace has been impaired because 

the person has not had as much capital and 

credit opportunities compared to others in 

the same or similar line of business who are 

not socially disadvantaged. 

The benefits:

• 8(a) businesses are assigned an SBA professional to help coordinate your business 

development assistance.

• You could be awarded an 8(a) sole-source 

contract up to $4 million for goods and 

services; $7 million for manufacturing, 

exceptions apply.

What is an 8(a) sole-source contract?

A direct awarding of a contract to an 8(a) 

small business that can provide the needed 

services.

HUBZone 

Businesses located in Historically 

Underutilized Business Zones, also called 

HUBZones, sba.gov/hubzone, must be 

certified to gain special access to federal

contracts. To qualify for the program, 

a small business must:

• Be at least 51 percent owned and controlled by a U.S. citizen(s), a Community 

Development Corporation, an agricultural 

cooperative, or an Indian tribe.

• Be located within a HUBZone, which 

includes Indian reservations and military 

facilities closed by the Base Realignment 

and Closure Act. Enter your address in our 

interactive map to see if your business 

is located in a HUBZone, https://maps.

certify.sba.gov/hubzone/map.

• Have at least 35 percent of your employees 

residing in a HUBZone.

For Service-Disabled 

Veterans:

If you’re a service-disabled veteran looking 

to enter the federal marketplace, you may be 

eligible for this small business certification.

CONTRACTING

• To determine your eligibility, contact a 

veterans’ business development officer

at your local SBA office, or the SBA’s

Office of Veterans Business Development

at sba.gov/ovbd. 

• After you have set up to do business with

the government in sam.gov, update 

your status as a service-disabled veteran 

business.

Keep in mind

The SBA does not officially certify this

designation, so when a contract awarded 

based on this eligibility is protested, the 

SBA will determine if your business meets 

the eligibility status, ownership and control 

requirements.

Hops and Scotch owners 

David Ng and Darren Tow grew 

their business in Brookline, 

Massachusetts with the help of 

an SBA-guaranteed loan.
 49

Women-Owned Small 

Business Certification

If you're a woman proprietor looking to sell to the federal 

government, you may be eligible for the Women-Owned Small 

Business certification, sba.gov/wosb. 

Here’s how to get certified:

• Your business must be at least 51 percent owned and controlled by one 

or more women who are U.S. citizens. The ownership must be direct 

and unconditional.

• A woman must hold the highest officer position and have managerial

experience required to run the business.

• One or more women must manage the daily business operations on a fulltime basis and conduct long-term decision making and planning.

To qualify as an economically disadvantaged woman-owned small business, your company must meet these criteria and the business owner and/

or manager must meet certain income and asset requirements.

• Register with the System for Award Management (sam.gov) to start doing 

business with the government.

• Update your status as a woman-owned small business in sam.gov.

• Search the FedBizOpps database (fbo.gov) for your new business 

opportunity.

Self-certify as a woman-owned small business or an economically disadvantaged 

woman-owned small business for free, or obtain certification from one of

the SBA’s approved third-party certifiers (which costs a fee):

• El Paso Hispanic Chamber of Commerce

• National Women Business Owners Corporation

• U.S. Women’s Chamber of Commerce

• Women’s Business Enterprise National Council

All required documents must be uploaded to certify.sba.gov prior to 

submitting an offer on a contract set aside for the program.

1. Make sure you’re eligible

2. Register

4. Update your status

5. Search the database

3. Certify

CONTRACTING

South Carolina 

Procurement 

Technical 

Assistance 

Centers

Businesses that want to sell products or services to 

federal, state, or local governments receive one-onone counseling and training at Procurement Technical 

Assistance Centers, free or low cost.

How can a procurement assistance center

 help you?

» A center adviser can help you determine if your 

business is ready for government contracting.

» An adviser can help you register in the System for 

Award Management (sam.gov).

» Your adviser will help you see if you are eligible for 

any small business certifications and programs.

Columbia

1225 Laurel St.

(803) 777-7877, scsbdc.com/ptac.php

North Charleston

6296 Rivers Ave., suite 300

(843) 740-6160, charlestonsbdc@moore.sc.edu

charlestonsbdc.com

Regional/State 

Contracting 

Programs

Division of Small and Minority Business 

Contracting and Certification

1205 Pendleton St., suite 525

Columbia

(803) 734-5010

oepp.sc.gov/osmba

SC Department of Transportation

Office of Business Development and Special

Programs

955 Park St.

Columbia

scdot.org
50

To further the mission of helping small 

businesses succeed, the SBA has regional 

offices across the country. Here are some 

fun facts about each region from sba.gov

Reasons to Love 

Your Region

Region 1 (Connecticut, 

Massachusetts, Maine, New Hampshire, 

Rhode Island, Vermont) New Hampshire 

was home to the first ski club in the

United States. As of 2014, Region 1 had 

the highest number of small business 

skiing facilities per square mile in the 

country, and all six region 1 states had 

skiing facilities.

Region 2 (New York, New Jersey, 

Puerto Rico, Virgin Islands) Small businesses are of key importance to Puerto 

Rico’s economy. Four out of five Puerto 

Rican workers are employed at small 

businesses, as compared to 48% for the 

United States as a whole.

Region 3 (District of Columbia, 

Delaware, Maryland, Pennsylvania, 

Virginia, West Virginia) Washington D.C., 

Maryland and Virginia are some of the 

best states for women-owned businesses. 

Washington, D.C., and Maryland rank 

1 and 3 respectively for the number of 

businesses owned by women. These two 

states and the district are in the top 10 for 

the amount of sales and employment from 

women-owned businesses.

Region 4 (Alabama, Florida, Georgia, 

Kentucky, Mississippi, North Carolina, South 

Carolina, Tennessee) Region 4 is a center 

of minority-owned businesses. 23% of all 

minority-owned businesses are located in 

region 4, making it the second in the nation. 

This includes over 35% of all African Americanowned businesses, the highest compared to 

any other region.

Region 5 (Illinois, Indiana, Michigan, 

Minnesota, Ohio, Wisconsin) Region 5 has 

an active veteran business community. It 

ranks second in terms of the number of 

veteran-owned businesses, with Ohio and 

Illinois in the top 10 states.

Region 6 (Arkansas, Louisiana, New 

Mexico, Oklahoma, Texas) Region 6 leads 

the nation in long-term GDP growth

(2009–2016) with 22% over the seven-year 

period. Texas and Oklahoma experienced 

the largest growth in the region with 28% 

and 22% respectively.

Region 7 (Iowa, Kansas, Missouri, 

Nebraska) Region 7 has a booming small 

health care industry. The region has the 

most hospitals, general health care, and 

social assistance small businesses per 

capita than any other region.

Region 8 (Colorado, Montana, North 

Dakota, South Dakota, Utah, Wyoming)

Region 8 is a great place for crafty entrepreneurs.

Montana ranks first in the nation in the number of small breweries per capita; Colorado is 

third, and the region as a whole ranks second.

Region 9 (Arizona, California, Hawaii, 

Nevada, Guam) Region 9 is a diversity hub. Its 1.9 

million minority-owned businesses amount 

to 24% of all U.S. minority owned businesses, 

placing it first in the United States in this category. Hawaii tops the country in diversity: 64% of 

Hawaiian businesses are minority-owned.

Region 10 (Alaska, Idaho, Oregon, 

Washington) Region 10 leads the country in 

coastline, fishing, and seafood exports. The 

region’s maritime endowment is led by Alaska, 

whose 6,640-mile-long coast is longer than 

those of the other 49 states combined. The 

region has the most small fishing operations

of any region, and three of its ports—Portland, 

Seattle, and Anchorage—account for 67% 

of America’s fish exports.

LOVE YOUR REGION
 51
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