Flickr user jferzoco

Monetary relief may be coming soon to current and future small business owners in the state of South Carolina. 

The State Small Business Credit Initiative is freeing up $18 million dollars of federal money to nudge banks into lending for small business. 

 the program will offer loans of up to $5 million. The state already has a similar program but it can offer loans of no more than $100,000 each.

The Business Development Corporation of South Carolina and the South Carolina Bankers Association will unveil the new federally funded program on July 26. This should help to get small businesses off the ground, hire new employees and invest in their overall operations. 

We here at TheDigitel will keep you posted.