Express Loans

The Express Loan is for business owners looking to start or build their business through a more expedited loan application process. Business loans can be used for a variety of general business purposes including equipment, inventory, lease improvements, or working capital. Express Loans range from $1,000 to $10,000 up to 48 months at a fixed rate of up to 9.50% with a 3% origination fee.

Be prepared to upload the following documents:

• Legal picture ID
• 3 months of personal & business bank statements 
• Personal Expense Worksheet
• Sources & Uses
• Most recent personal & business federal tax return with W2s
• Year to Date Profit & Loss
• Business Plan Canvas 
• Verification of Personal Income (paystub, annual benefits letter, etc.)
• Resume
• Articles of Incorporation or Operating Agreement, if applicable

Due to a high volume, we are unable to accept loan applications for start-up businesses. CommunityWorks defines a start-up business as a business that has been in operation for less than two years, verified by their business tax returns and not the date the business was registered with the state. If your business falls into the start-up category, we invite you to schedule a 30-minute conversation with a loan officer to discuss your business plans and prepare for future funding opportunities.

CommunityWorks is pausing acceptance of applications for businesses that are in the NAICS Code 62 category, which includes health care and social assistance industries. We are currently unable to accept new loan applications for businesses that fall into this category.

Microbusiness Loans

The Microbusiness Loan is for a business that has been open for at least a year and is looking for loan capital to build or grow the enterprise. These business loans can be used for a variety of general business purposes including equipment, inventory, lease improvements, energy efficiency/solar upgrades for owner-occupied commercial real estate, or working capital. Microbusiness Loans are from $10,001 to $50,000 up to 60 months at a fixed rate of 8.75% with a 3% origination fee.

Be prepared to upload the following documents:

• Legal picture ID
• 3 months of personal & business bank statements
• Personal Expense Worksheet
• Sources & Uses Form
• Personal Financial Statement
• 2 Most Recent Years of Personal and Business Federal Tax Returns with W2s
• Business Plan, or a Business Plan Canvas if a Business Plan is unavailable
• Year to Date Profit & Loss Statement
• 12-Month Business Cash Flow Projections
• Verification of Personal Income (paystub, annual benefits letter, etc)
• Resume
• Articles of Incorporation or Operating Agreement, if applicable

Due to a high volume, we are unable to accept loan applications for start-up businesses. CommunityWorks defines a start-up business as a business that has been in operation for less than two years, verified by their business tax returns and not the date the business was registered with the state. If your business falls into the start-up category, we invite you to schedule a 30-minute conversation with a loan officer to discuss your business plans and prepare for future funding opportunities.

CommunityWorks is pausing acceptance of applications for businesses that are in the NAICS Code 62 category, which includes health care and social assistance industries. We are currently unable to accept new loan applications for businesses that fall into this category.

Small Business Loans

CommunityWorks will consider small business loans up to $350,000 to qualifying, existing entities. These business loans can be used for the purchase of equipment or real estate, to refinance existing debt, energy efficiency/solar upgrades for owner-occupied commercial real estate, or for use as working capital. Terms can be up to 10 years for equipment/working capital loans and 25 years for real estate-secured loans. The rate will typically float at Wall Street Journal Prime Rate plus up to 6.00%.

Be prepared to upload the following documents:

• Legal picture ID
• 3 months of personal & business bank statements
• Business Debt Schedule
• Sources & Uses
• Personal Financial Statement
• Most recent 3 Years of Personal and Business Tax Returns (with all schedules, W2, and/or K-1)
• Business Plan
• 24-Month Business Cash Flow Projections
• Year to Date Profit & Loss, Balance Sheet, and Cash Flow Statement
• Verification of any personal income (most recent paystub, annual benefits letter, etc.) if applicable
• List of Collateral
• Copy of Governing Documents Filed with SC Secretary of State
• 3 Most Recent Years of Business Financials including Profit& Loss and Balance Sheet)
• Resume

Due to a high volume, we are unable to accept loan applications for start-up businesses. CommunityWorks defines a start-up business as a business that has been in operation for less than two years, verified by their business tax returns and not the date the business was registered with the state. If your business falls into the start-up category, we invite you to schedule a 30-minute conversation with a loan officer to discuss your business plans and prepare for future funding opportunities.

CommunityWorks is pausing acceptance of applications for businesses that are in the NAICS Code 62 category, which includes health care and social assistance industries. We are currently unable to accept new loan applications for businesses that fall into this category.

Start-up Loans

Due to a high volume, we are unable to accept loan applications for start-up businesses. CommunityWorks defines a start-up business as a business that has been in operation for less than two years, verified by their business tax returns and not the date the business was registered with the state. If your business falls into the start-up category, we invite you to schedule a 30-minute conversation with a loan officer to discuss your business plans and prepare for future funding opportunities. 

This business loan product is exclusively for start-up businesses that are in the pre-launch stage through 1 year of operation. The loan can be used for equipment, inventory, lease improvements, and/or up to 3 months of working capital necessary to start or run your business. Terms are up to 5 years at a fixed interest rate of 8.75% with a 3% origination fee.