CDIC Programs
Business Loan Program
The Community Development & Improvement
Corporation (CDIC) is now able to provide micro loans
to businesses that seek additional financing. The mission
of the CDIC loan program is to create and/or retain
employment opportunities and stimulate the growth and
development of revenue-generating businesses by increasing
the accessibility of financial resources. The main objectives
of the CDIC business loan program are to:
1. Promote the development of new businesses and expansion
of existing businesses.
2. Infuse capital into low and moderate-income communities.
3. Assist businesses owned and/or operated by women,
minorities, or persons who are economically
or socially disadvantaged.
4. Provide opportunities for job stabilization and creation.
In addition, CDIC has formed a partnership
with Business Carolina, Inc (BCI), a South Carolina
statewide not-for-profit financial institution, to offer
loans to new and existing small businesses. Business
Carolina is a certified Community Development Financial
Institution (CDFI). BCI is a certified Small Business
Administration (SBA) lender and a provider of the South
Carolina Jobs-Economic Development (JEDA) loan programs.
BCI has designated CDIC as a Building Dreams Level II
Partner. CDIC was one of the first Level II Partners.
In order to become a Level II Partner with BCI in its
Building Dream Initiatives, organizations must be a
non-profit entity incorporated in South Carolina and
have community development, economic development, and/or
business development as a primary mission.
Loan program funds may be used to acquire, expand,
renovate real estate, purchase machinery & equipment,
fixtures, leasehold improvement, and working capital.
Any credit-worthy individual, partnership, corporation
shall be eligible to apply. The interest rate and terms
will vary depending on the type of loan program.
For more information about this program or to schedule
an appointment, contact Hawthorne Welcher,
Development Manager at (803) 663-6848
or hwelcher@aikenhousing.org.
You may also visit the CDIC Financial Center located
at 560 Jefferson Davis Highway in Graniteville, South
Carolina (located next to Honda Cars of Aiken).
Micro Loan Program
CDIC is accepting applications for the Micro Loan Program.
The program is designed to create employment and stimulate
business growth by increasing the availability of financial
resources. Program funds may be used to acquire, expand,
renovate real estate, purchase machinery & equipment,
fixtures, leasehold improvement, and working capital.
Any credit-worthy individual, partnership, corporation
shall be eligible to apply. The interest rate and terms
will vary depending on the type of loan program.
For more information about this program or to schedule an appointment, contact Hawthorne Welcher at (803) 663-6848 or hwelcher@aikenhousing.org
Down Payment/Closing Cost Assistance Program
Community Development & Improvement Corporation
(CDIC) provides first-time homebuyers with down payment
and closing cost assistance on the purchase of a new
or existing home that meet FHA requirements.. The minimum
assistance amount is $1,000 and is determined based
on the need of the family.
Home Buyer Education
Home buyer education classes are offered four times
a year. Topics include but are not limited to the following:
understanding credit, managing money, pros and cons
of homeownership, qualifying for a home loan, and preventing
foreclosure. Classes are taught by trained professionals
and certificates are issued to participants upon successful
completion.
New Construction/Purchase Program
The New Construction or Purchase Program allows qualified
applicants to chose a lot/land and house design for
new construction or to purchase. Down Payment and Closing
Costs Assistance applies.