Goose Creek contributes $500,000 to help local small businesses expand
GOOSE CREEK, S.C. (WCSC) - The city of Goose Creek is now supplying small businesses with loans as part of their Kickstart the Creek 2.0 joint initiative.
The original program was created as a COVID relief initiative. City officials say they are continuing to provide funds because they want small businesses to grow and stay local.
The city is contributing $500,000 to businesses that are looking to expand but might not qualify or have been denied a traditional bank loan.
During the pandemic, Goose Creek City Council put together a small business COVID relief loan fund. They partnered with CLIMB Fund, a nonprofit community development lender.
Now, they are partnering again for Kickstart the Creek 2.0. It’s in full effect and they are continuing to provide Goose Creek small businesses with loans.
Matt Brady with the city says startups or small businesses looking to expand in the city will be assessed by CLIMB fund. The organization will look at their business plan for example and how much capital they are looking to access to determine how much they’ll get.
At the very most, the kickstart funds will contribute 25% of any total financing package.
“We see small businesses as sort of the lifeblood of our community. They employ a lot of people, they make a community what it is, they help create strong bonds and strong business relationships within a community,” Brady says.
Brady says he’s happy to walk business owners through the process and provide them with any help needed before submitting a loan application. The city wants to make sure they are ready for the next step.
Funds will be available for borrowers starting in June.
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