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 ADC now meets its purpose Statewide while concentrating on the Upstate.
Through the Appalachian Loan Fund, The ADC provides funding to businesses located in the Anderson, Cherokee, Greenville, Oconee, Pickens and Spartanburg and other counties of Upstate South Carolina. The ADC provides funding to small business statewide through programs in conjunction with the U.S. Small Business Administration and the US Department of Agriculture. The ADC’s participation is geared toward benefiting these areas, as measured by increased employment and payroll, increased sales volume, and increased tax base. The ADC uses funds available through government programs to help grow businesses in our communities.
Businesses who partner with the ADC can be positioned to acquire a loan with a reduced equity contribution, extended amortization, and in most cases, a fixed interest rate.
Financial institutions who partner with the ADC can structure their financing packages to mitigate credit risk by improving the loan-to-value of a project, improve the borrower’s monthly debt service, and position themselves to obtain more business by offering loans to qualified borrowers through reduced equity requirements.
When a financial institution and a borrower use the ADC loan programs, the results will normally result in an improved loan structure and economic development benefits for the community in which the project is financed.