The Appalachian Loan Fund (ALF) is a local source of financing for businesses whose projects will result in the creation or retention of full-time jobs for every $40,000 of ALF funds borrowed.
These funds are a 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 ALF partners with a lender to provide loan assistance to businesses located in Anderson, Cherokee, Greenville, Oconee, Pickens, and Spartanburg counties. The ADC can also provide a direct loan in some cases. Funds can be used for fixed assets such as real estate and equipment, working capital, and leasehold improvements. These revolving loan funds were awarded to the ADC from The Appalachian Regional Commission (ARC), the South Carolina Appalachian Council of Governments (SCACOG), and from the SCACOG via the South Carolina Budget and Control Board for relending to eligible borrowers.