Loan Closing: $75K to Market on Main of Lake View, LLC

LOAN OVERVIEW

Borrower:	Market on Main of Lake View, LLC
Loan Amount:	$75,000
Location:	Lake View, SC - Dillon County
Project Type:	Healthy Food Enterprise

SITUATION

Lake View was once a thriving small town that supported three small grocery stores. After some industry moved out over the last few years, they were left with a community in need of jobs and a food supply. Most residents have had to travel 10 miles or more to the nearest grocery store.

SOLUTION

Matthew Elvington decided to open a small grocery store in the heart of Lake View to provide the community with access to healthy food but he could not secure conventional financing for the project. Matthew attended one of South Carolina Community Loan Fund's loan application workshops last year and worked with the Small Busin ess Development Center to complete his business plan. We provided funding for the rehabilitation of a building for the grocery store as well as machinery, equipment and inventory.

IMPACT

A small full service grocery store will be locating in a low supermarket access area and a persistent poverty county. Market on Main will be the only business to offer fresh meat and produce within a 10 mile radius. The company will be hiring and serving low income individuals and the residents and surrounding communities will benefit from a place to purchase fresh food locally. Market on Main is committed to keeping prices low, and quality high.

Learn more about our loan programs at our

2016 Annual Meeting on April 12th!

Since 2004, we have provided 297 loans for $27.4 million in financing

that facilitated more than $221.6 million in community development projects; we

financed 1,291 housing units, 7 healthy food outlets, 9 community facilities, and 10

community businesses, creating or retaining 2,929 jobs and providing a safe,

affordable place to call home for 2,228 individuals and families.