CLIMB Fund Honored as Top SBA Microloan Provider in South Carolina
CLIMB Fund Honored as Top SBA Microloan Provider in South Carolina
CLIMB Fund is proud to announce it has been recognized by the U.S. Small Business Administration (SBA) as both the leading provider of SBA Microloans by volume and the leading provider by total dollars loaned in South Carolina for 2023.
The SBA is a government agency that supports small businesses through programs like microloans. Microloans provide small, short-term loans up to $50,000 that spur business launches and growth. They help fill a critical gap for entrepreneurs and small businesses that lack access to traditional bank loans.
"We're honored to receive this distinction from the SBA," said Cindi Rourk, Chief Executive Officer of CLIMB Fund. "Microloans are a lifeline for many entrepreneurs. They fill a critical gap in accessing capital, allowing individuals to chase their dreams and turn their ideas into reality. We understand the significant impact these loans can have, not just on the businesses themselves, but on the communities, they serve and the local economy as a whole."
In 2023 alone, CLIMB Fund facilitated 47 SBA Microloans totaling more than $1.5 million. This significant volume of lending reflects CLIMB Fund's leadership in connecting capital to diverse small businesses statewide. Beyond simply providing loans; CLIMB Fund offers financial guidance, mentorship, and other resources to equip small businesses with the tools they need to succeed.
Since 1979, CLIMB Fund (formerly Charleston LDC) has partnered with the SBA to lend millions to small business owners in South Carolina. Over the last 12 years the organization has approved 338 loans totaling $10.2 million. In addition to capital, CLIMB Fund's comprehensive services help small businesses launch and thrive long-term. This recognition underscores the organization’s pivotal role in realizing the SBA's mission of promoting entrepreneurship, especially in disadvantaged areas. CLIMB looks forward to continuing this impactful collaboration with the SBA in the years to come.
About CLIMB Fund:
CLIMB Fund is a 501(c)(3) nonprofit and federally certified Community Development Financial Institution (CDFI) dedicated to leveraging capital in support of social and economic justice. With a focus on providing access to capital for BIPOC, women-owned, and veteran-owned businesses and as South Carolina's leading SBA microlender, CLIMB Fund remains committed to creating access, jobs, and opportunities where they are most needed.
For questions or more information, contact CLIMB Fund at 843-973-7298 or keonta@climbfund.org.