CLIMB Fund announces September Loan Closings!
Learn about 5 Community Development loans we closed this month!
J.H.W. Enterprises
- Type: Property Management
- Loan Type: SBA Microloan & Wells Fargo Open For Business Fund
- Location: Charleston, SC
- Website: www.jhwenterprise.com
Jaymes McCloud started J.H.W. Enterprises in 2018 as the sole employee and grew the business from managing 40 units in the first year to now managing 489 units, but COVID-19 significantly disrupted the business's cash flow. J.H.W. avoided laying off employees, but only managed to maintain current staff at low pay. With this loan package, JH.W. will be able to retain current employees by offering meaningful raises and hire an additional 8 employees to keep up with returning demand.
After closing, Jaymes reminded us of our work's impact by saying, "I never had a loan, never had a credit card, and there were days where I needed these things, but rejection for minority businesses looking for funding is real... words cannot describe how thankful I am to Grace Butler with the CLIMB Fund”
New Digital Press, LLC
- Type: Media Production
- Loan Type: Next Level Loan Program & SBA Microloan
- Location: Charleston, SC
- Website: www.nuestroestado.com
New Digital Press, a LatinX owned media production company, started in January of 2020. One year into the venture, New Digital Press has become a trusted source for news media and content creation. Their website became the Spanish news publication with the largest following on social media across all of South Carolina. As the demand for livestreaming and hybrid events grows, New Digital Press will use the funds to develop their video production capabilities to better serve the LatinX community.
ShaNique Designs, LLC
- Type: Event Planning, Floral, and Design
- Loan Type: City of Charleston COVID-19 Relief Loan & SBA Microloan
- Location: Charleston, SC
- Website: www.shaniquedesigns.com
In 2016, Shaniqua Green decided to pursue her passion for creative work by starting ShaNique Designs. Due to the pandemic Shaniqua was unable to attend festivals and saw fewer out-of-town clients planning events in Charleston, resulting in lost revenue. The CLIMB Fund is excited to offer this loan package so ShaNique Designs can infuse working capital into the business, immediately adding one full-time employee, with the potential to add four more as demand returns after the pandemic.
MCR Services
- Type: Truck and Trailer Repair
- Loan Type: SBA Microloan
- Location: Charleston, SC
- Website: www.mcrservicellc.com
Husband and wife duo Nicholas and Breanna Redmond started MCR Services, a mobile truck and trailer repair company, in August of 2020. Known in the area for quick and efficient onsite repairs, MCR Services continues to remain busy servicing trucks and trailers. To grow the business while maintaining quality service, MCR needs a new work truck, and will now be able to secure one with CLIMB Fund financing!
MIM Hydraulics
- Type: Marine Industrial
- Loan Type: City of Charleston COVID-19 Relief Loan & SBA Microloan
- Location: Charleston, SC
- Website: www.mimhydraulics.com
Navy Veterans Jeff Kenney and Sam Mayerck have over 50 years of combined experience in the Fluid Power Industry. They decided to start MIM Hydraulics when they saw a need in the market for onsite service, repairs, and maintenance. MIM will use these funds to expand their facility, hire three additional full-time employees, and purchase equipment to keep up with growth.