Manufacturing / Construction:
- ADC participated in funding three projects for ADEX Machining Technologies, LLC and Center Street Equipment, LLC that involved the expansion of its machining operation in Greenville County by funding various pieces of equipment. The ADC portion of the projects consisted of a SBA 504 loans for up to 40% of the project. The primary bank was Greer State Bank.
- The Thomas Creek Brewery, LLC, located in Greenville, received $42,500 from the ADC to be used to purchase additional equipment and acquire additional cold storage space. Branch Banking and Trust Company participated in the funding.
- Encore LLC located in Greenville County purchased equipment through the SBA 504 program. This loan was used to establish a manufacturing line to produce plastic drums, equipment to clean the drums, and the equipment to recycle drum material.
- ALF funds in the amount of $200,000 were approved for Doug2, AAmco Transmissions. Funds were used for to help re-establish an AAmco Transmission shop on Wade Hampton Boulevard in Greenville. BB&T of South Carolina served as the primary lender for this project
- ADC provided funding to a project for Wash Resources, Inc. dba Snappy Two in Greenville SC, which involved the renovation and expansion of a car wash on Woodruff Rd that had been closed. The business that was formerly a self service car wash is now a full service facility. The ADC used the SBA 504 program to fund $598,000. The primary bank for the project was United Community Bank.
Wholesale / Service:
- A SBA 504 loan to Gemini Investments, LLC was approved for the remodeling of a building on Main Street West End area of Greenville. The funds of $506,000 will finance the renovation of the building into an Art Gallery and Events Center. This project was done in conjunction with the Bank of Travelers Rest.
- A B&I loan of $1,540,750 for Hampton Avenue, LLC was approved for use in the renovation of a property in Pickens, SC. Hampton Avenue, LLC is the newly established real estate holding company for a residential treatment facility, located in Pickens, SC and operated by Avalonia Group Homes, Inc. The residential treatment facility provides both general and specialized non-hospital based interdisciplinary services 24/7 for persons with behavioral health disabilities; victims or perpetrators or domestic violence or abuse; and persons with eating disorders, sexual disorders, or various addictions. The primary clients served are adolescents, aged 12 through 18, in the SC Department of Social Services and Department of Health and Human Services (DHHS) systems.
- A 504 loan was provided to TCP Global Investments. TCP Global is considered to be experts in the world of automotive paint and restoration, airbrush supplies, spray guns, auto body equipment, and detailing supplies. TCP purchased a building in Duncan in Spartanburg County to house this expansion for an East-coast distribution center. TCP is headquartered in California, but has substantial sales east of the Mississippi. Citibank partnered with ADC, whose 504 portion of the project totaled $938,000.
- The ADC funded a request from Chiropractic Family Physicians, PA of Easley, SC for $73,000 from its ALF funds to assist in purchasing fixed assets for the business. The business had been leasing its location and equipment and was presented an opportunity to purchase these assets. Home Trust Bank is the primary lender.
- A request to Julia Peters Studio was approved for ALF funding in the amount of $144,000. This amount was combined with funds from Palmetto Bank on this $360,000 project to purchase and renovate space for Ms. Peters’ art studio, art classroom, and art gallery in downtown Greenville.