Summary:

The South Carolina Jobs-Economic Development Authority's Taxable Bond Program offers numerous benefits to the borrower and allows JEDA the opportunity to finance new types of enterprises in South Carolina at below Prime rate financing.

Parties involved in this program are kept to a minimum and allows the bond to be issued in as little as 45 days. The participants include:
Amortization may be customized to the specific transaction; terms may run as long as thirty (30) years.
There is no requirement for public disclosure of sensitive and/or confidential information; disclosure to the letter of credit (LOC) provider is tantamount to that which would be required for qualification under a traditional bank loan.
Construction and/or permanent financing is provided since bond proceeds may be regarded as both.
Principal can be repaid at any time without penalty.
Each transaction is independent of others within the program.
Multi-project financings can be combined within a single transaction.
Issues of program participants are secured with a bank letter of credit; hence, SEC registration is not required.
Ability to convert to fixed rates.
Subject to LOC bank approval, proceeds can be used for any purpose.

A full list of required materials and documents are found on the program website.

Eligible Recipients:

For-Profit Business

Eligible Recipients Detail:

Any corporation, partnership, LLC or similar entity with the authority to issue taxable bonds should consider this program. With favorable borrowing costs, this program works well with a wide variety of private enterprises, such as the following: Manufacturing facilities, Self storage facilities, Distribution centers, Medical facilities, Nursing homes, Office buildings, Automobile dealerships, Daycare centers, Shopping centers, Multifamily housing projects, Commercial developments, Acquisition financing, Debt restructuring, General corporate purposes.

Eligible Purpose:

Last Mile Infrastructure

Eligible Purpose Detail:

Industrial Revenue Bonds can be used primarily for acquisition of land, construction of a building and acquisition of equipment.