South Carolina small business grants, loans and training funds (2026)

What South Carolina offers, sorted by who receives the money

Most “South Carolina small business grant” lists blend loans, tax credits and grants for nonprofits. Here is how the real 2026 programs break down:

• Bank loans you repay, with the state taking part of the risk. The SSBCI Loan Participation Program, administered by the Business Development Corporation of South Carolina (BDC) ⁠⁴.
• Equity for startups. The InvestSC Co-Investment Program puts SSBCI money into companies alongside private investors ⁠¹⁠⁵.
• Grants to technology companies. SCRA’s Startup, Acceleration and Federal Matching grants ⁠⁶⁠⁷.
• Training paid to colleges, or rebated through payroll taxes. readySC and retrainSC from the SC Technical College System, and federal WIOA on-the-job training through SC Works ⁠¹⁰⁠¹¹⁠¹³.
• Income tax credits. The jobs tax credit and the apprentice credit in Title 12 of the state code ⁠¹².
• Export reimbursements. S.C. Commerce’s Export Incentives Program, funded by the SBA’s STEP grant and the state’s SCOPE program ⁠⁸.

How JEDA’s SSBCI money reaches a borrower through BDC

Under the loan participation program, BDC buys part of a loan that your bank makes. It also takes a subordinate position if the loan defaults, which lets the bank approve a borrower it would otherwise turn down ⁠⁴.

Treasury’s program summary lists a $1 million per-transaction maximum ⁠¹. BDC’s own program page gives $500,000 as the maximum participation ⁠⁴. Ask BDC which cap applies to your deal.

Eligible uses include owner-occupied real estate, equipment, construction and interim financing, and term loans for business purposes. Passive real estate, buying an ownership interest in a business, paying delinquent taxes and paying dividends are excluded ⁠⁴. The bank sets the interest rate, subject to BDC’s agreement ⁠⁴. You cannot apply to BDC directly; the loan has to come from one of BDC’s participating banks ⁠⁴.

The program is active. In fiscal year 2025 (July 2024 to June 2025), it helped 60 businesses close $78,865,263 in loans, of which $13,719,313 was the SSBCI participation ⁠³. Since 2011, it has financed 503 businesses ⁠³. JEDA reports that 55.66% of its SSBCI transactions went to businesses owned by socially and economically disadvantaged individuals (SEDI) ⁠³.

InvestSC: equity for startups that already have investors

InvestSC, a South Carolina nonprofit, manages $51 million of SSBCI venture money for JEDA ⁠². Its co-investment program matches money from accredited investors in South Carolina startups, from seed stage through early stage. Investments average $200,000 to $400,000 ⁠¹. The $20 million venture capital program goes to venture funds as a limited partner, not to companies ⁠¹. In fiscal 2025, nine South Carolina businesses received $4,074,993 in total ⁠³.

This is ownership capital, not a grant. InvestSC screens on team, problem, progress (revenue growth), product and valuation. You apply by registering in its portfolio management system and uploading an executive summary and a balance sheet ⁠⁵.

SCRA grants: real cash, for technology companies only

SCRA was chartered by the state in 1983 ⁠⁷. In October 2026, it lists four rolling grants for startups ⁠⁶:

This is South Carolina’s SBIR/STTR match. It covers up to 50% of a qualifying federal award, capped at $50,000, and a company can receive two in its lifetime, each tied to a different award ⁠⁷. To qualify, you must show the federal agency’s award notice and your first data. The company must be registered as a for-profit with the SC Secretary of State and either headquartered in the state or have at least 51% of its full-time staff there. It also has to be an active SCRA Member Company ⁠⁷. Debt repayment, rent, legal fees, salaries and past expenses are not eligible costs. Approved awards are usually funded within 30 days of the decision ⁠⁷. SCRA’s 2026 Tech Catalyst Fund for rural healthcare startups accepted applications from May 27 to June 25, 2026, and is closed ⁠⁶. A restaurant, retailer or service business will not qualify for any SCRA grant.

Training the state pays for: readySC, retrainSC and SC Works

readySC recruits and trains workers for companies that are creating new jobs in South Carolina. The company pays little or nothing directly ⁠¹⁰. The jobs must be permanent and pay a competitive local wage, and the benefits package must include health insurance. The project also has to create enough jobs for the training to be cost-effective, and readySC does not train to replace turnover ⁠¹⁰. It suits an expanding plant or call center, not a two-person startup.

retrainSC is for existing manufacturing, processing, warehousing/distribution and technology-intensive businesses. It rebates up to $1,000 per eligible employee per calendar year through South Carolina withholding tax ⁠¹¹. You must offer health insurance that pays at least 50% of full-time employees’ premiums. Trainees must be full-time production, technology or warehouse workers or their direct supervisors, with at least one year on your payroll ⁠¹¹.

On-the-Job Training through SC Works is federal WIOA money. It reimburses up to 50% of a new hire’s wage during training, and up to 75% in some cases. Contact your local SC Works center to ask about funding ⁠¹³.

Tax credits for hiring and apprentices

• Apprentice credit. If you employ an apprentice registered with the U.S. Department of Labor, you can claim the greater of the apprenticeship’s cost or $1,000 per apprentice. The credit is capped at $4,000 per apprentice, or $6,000 for a youth apprentice ⁠¹². The apprentice must work for you at least seven full months of the tax year. The credit applies for up to four years per apprentice, plus $1,000 a year for up to three more years if the apprentice finishes and stays on. Statewide credits are capped at $5 million a year ⁠¹².
• Jobs tax credit for small employers. A taxpayer with 99 or fewer employees qualifies by adding at least two full-time jobs. Those jobs must pay at least 120% of the county or state per capita income, whichever is lower ⁠¹². The per-job credit runs from $1,500 in Tier I counties to $25,000 in Tier IV counties. It is available for five years, starting the year after the job is created, and can offset no more than 50% of the tax it is claimed against ⁠¹².

Export reimbursements from S.C. Commerce

S.C. Commerce’s Export Incentives Program reimburses pre-approved export expenses. It is funded by the SBA’s State Trade Expansion Program (STEP) and the state’s South Carolina Opportunities for Promoting Exports (SCOPE) program. It helps about 65 small businesses a year ⁠⁸. The current STEP budget is $433,333, with $325,000 federal and $108,333 non-federal ⁠⁸⁠⁹. Eligible costs include:

• International trade show fees and booths
• U.S. Commercial Service services such as Gold Key
• S.C. Commerce trade missions
• Export training
• Website translation, search optimization and e-commerce upgrades
• Export credit insurance fees and foreign sales trips ⁠⁹

Applicants must be for-profit, independently owned, located in South Carolina and have an export-ready product ⁠⁹. Awards depend on available funds, the number of applications and their quality. S.C. Commerce publishes no per-company cap, so get pre-approval before you book anything ⁠⁸.

Columbia’s city loan fund and other local money

Some of the most usable local money in the state is in the capital. The City of Columbia’s Office of Business Opportunities runs a Commercial Revolving Loan Fund for startups and existing businesses inside city limits ⁠¹⁵. The fund pays for construction, real estate, equipment and working capital, and loans must create or keep a set number of jobs per dollar lent. Start-ups have to submit a business plan, three years of financial projections, and three years of business and personal tax returns and financial statements ⁠¹⁵. A seven-member committee approves each loan; it met as recently as September 9, 2026 ⁠¹⁵. The city’s forgivable-loan storefront program, the Commercial Retention & Redevelopment Program, is paused until further notice ⁠¹⁵. These are repayable loans, not grants.

Getting from first call to funding in South Carolina

1. Start with the SC SBDC

   Its SSBCI technical assistance is free and focuses on very small businesses (fewer than 10 employees) and rural firms. Advisers help with business plans, projections, bookkeeping, choosing a legal structure and loan applications ⁠¹⁴. JEDA reports the network has about 20 locations ⁠³.

2. Pick the program by your business type

   A bank loan for real estate or equipment points to BDC. A technology startup should look at SCRA and InvestSC. An exporter belongs with S.C. Commerce. A company hiring or training staff should use readySC, retrainSC or SC Works.

3. For an SSBCI-backed loan, go to a bank first

   Ask whether it participates in BDC’s SSBCI program, and bring at least 5% equity, financial statements and a plan for using the money ⁠⁴. The bank brings in BDC; you can call BDC at 803-744-0309 to find a participating bank ⁠⁴.

4. For SCRA grants, become a member before you apply

   Ask about membership, and you will be assigned a Relationship Manager who decides whether to invite an application. SCRA usually decides within a week of your pitch ⁠⁷.

5. For export costs, apply before you spend

   Submit the S.C. Commerce application and wait for pre-approval, because reimbursement covers only approved activities ⁠⁸.

6. For tax credits, plan around the tax year

   Register apprentices with the U.S. Department of Labor and keep them at least seven months. Track net new full-time jobs and wages against the 120% per capita income test ⁠¹².

7. If you are turned down, try the next option

   A loan decline from one bank can go to another participating bank. SCRA and S.C. Commerce review applications on a rolling basis or as funds allow, so ask what was missing and reapply ⁠⁴⁠⁶⁠⁸.

For other South Carolina assistance, see the South Carolina overview, or compare states on the small business grants hub.