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About The Program

Michelin Development provides loans to start-up and small companies in the Upstate of South Carolina. The focus of the program is socially and economically disadvantaged businesses.

Michelin Development: Funding and expert advice for local start-up and small-sized socially and / or economically disadvantaged businesses.

How Do I Qualify: Program Criteria and Loan Process

Michelin Development loans are up to $50,000 with no minimum, at the prevailing interest rate prime plus 2%. Terms are up to 5 years plus the first 6 months are interest only. We do not required personal guarantees, but loans will be secured against business assets plus 35% in Hard Equity is required. The decision to provide loans is at the discretion of the Michelin Development Steering Committee and its decision is final.

Michelin Development offers Free of Charge access to our business expertise. This is available in all areas where we have internal expertise except for Legal advice, web development, engineering and insurance. This expertise must be problem, project or issue specific and is for a maximum of five days. We do not help clients start or run their companies. We only make suggested recommendation and do not implement.

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