In 2011 the
U.S. Small Business Administration launched Community Advantage, which is their
pilot loan program. This program is targeted towards underserved small
businesses. Recent news has stated that this pilot is being expanded and is now
available statewide thanks to Appalachian Development Corp. The ADC is an
economic development nonprofit lender located in the Upstate area that just
received the Community advantage certification earlier this year. This
organization has offered loans to qualified small businesses ranging from
$25,000 to $250,000 through the Community Advantage program. According to this article
the pilot program is “allowing qualified small businesses to access financing
through nonprofit financial intermediaries”. Since its certification the ADC has
made two Community Advantage loans this year and four pending SBA approval.
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