Appalachian Development

The Appalachian Development Corporation (ADC) has been a technical assistance and lending partner to businesses located in Upstate South Carolina since 1982. The ADC was organized primarily for the purpose of furthering economic development, job creation and retention and financially assisting in the growth and development of business concerns in six counties of Upstate South Carolina.

The Appalachian Loan Fund (ALF) is a locally controlled source of financing for businesses whose projects will result in the creation or retention of permanent full-time jobs for every $40,000 of ALF funds borrowed. The Appalachian Loan Fund (ALF) is a locally controlled source of low cost, subordinate, fixed rate financing for businesses whose projects will result in the creation or retention of permanent full-time jobs.

The SBA 504 Loan Program provides long-term, fixed rate, subordinate financing for acquisition and/or renovation of capital assets including land, buildings and equipment. The Appalachian Development Corporation (ADC) provides the SBA 504 Loan Program statewide.

An SBA 504 loan offers long-term, fixed rate, subordinate financing for acquisition and/or renovation of capital assets including land, building and equipment, eligible soft costs such as architect, engineering, and environmental fees, change of ownership of capital assets and certain debt refinancing.SBA 504 funds cannot be used for working capital, A/R, inventory or vehicles.

Bogari, LLC is a European Contemporary Furniture store that out grew their leased space. With the help of the ADC, BNC Bank and SBA, they were able to expand into a 15,000 square foot building at 66 Carolina Point Parkway, Greenville, SC. Stella's Southern Bistro purchased the building they were leasing in Simpsonville, SC.