Deerbank Capital Group, a small-business funding service in Conway, South Carolina, compares the types of business lenders a South Carolina owner can approach: banks, credit unions, online lenders, equipment finance companies, community lenders and cash advance funders, what each reads and offers, and where Deerbank fits. Each lender decides for itself.
At a glance
- Commercial banking establishments, Horry County, SC
115 (CBP 2023, NAICS 522110)
- Finance and insurance employers
519 (CBP 2023)
- Who decides
Each lender, under its own standards
Six Kinds of Business Lenders Side by Side
| Lender type | What it offers | What it reads first |
|---|---|---|
| Bank | Term loans, lines of credit, equipment and real estate loans | Tax returns, financial statements, collateral, deposits |
| Credit union | Business loans and lines for members | Membership, returns, statements, the member's history |
| Online lender | Working capital, lines, term loans | Bank statements and cash flow |
| Equipment finance company | Equipment loans and leases | The equipment quote and the business's credit |
| Community lender (CDFI) | Loans with a community mission | The plan, the owner, sometimes technical assistance |
| Cash advance funder | Merchant cash advances (not loans) | Card processing and deposit history |
Types of Business Lending for Conway, SC Owners
Types of business lending follow the bill: term lending for a known cost, revolving lines for repeat gaps, asset-based lending against equipment, inventory or receivables, and receivables purchases such as cash advances. The business loans comparison explains how each is paid back; a term loan and a line of credit are the two shapes banks and credit unions offer.
Credit Union Business Loan: What Horry County, SC Owners Compare
A credit union business loan requires membership, which comes from where you live or work, an employer or another field of membership. Credit unions offer term loans, lines of credit and equipment loans to member businesses, and some cap how much business lending they do. Horry County owners compare a credit union's offer with a bank's on total cost, collateral and the time each takes to decide.
Credit Union Commercial Loan Across Horry County, SC
A credit union commercial loan for a larger project, such as a building or a business purchase, is read much like a bank's: returns, financial statements, collateral and the member's history. Ask early whether the credit union lends at the amount you need, and whether it shares larger loans with other credit unions.
What Banks Offer Business Loans? A Checklist for Horry County, SC Owners
- Commercial banks offer term loans, lines of credit, equipment loans and commercial real estate loans.
- Many banks are approved to make SBA-backed loans; the SBA South Carolina District Office lists programs.
- Banks read two or three years of tax returns, financial statements, collateral and the owner's credit.
- Ask your own bank first: an existing deposit relationship gives it records to read.
Horry County had 115 commercial banking establishments with 1,573 paid employees in 2023 (County Business Patterns, NAICS 522110), counted by location; 19 had a ZIP 29526 address (ZIP Code Business Patterns).
Types of Business Lenders: What Partners Review in Conway, SC
Every lender type reads some mix of cash flow, credit, collateral, time in business and the owner's stake. Banks weigh tax returns and collateral heavily; online lenders weigh recent bank statements; equipment companies weigh the machine; cash advance funders weigh card volume. A request one type declines can fit another.
Types of Commercial Lenders: When It Fits in Conway, SC
Match the lender to the request. A large, long project with collateral fits a bank or credit union. A short gap in a business with strong deposits may fit an online lender. A single machine fits an equipment company. A mission-driven community lender may fit an owner a bank has turned down. Compare total dollar cost across every offer.
Advice Before You Apply: SBDC and SBA Offices
The South Carolina Small Business Development Center network lists its locations on its website (scsbdc.com/locations), and the SBA South Carolina District Office describes SBA programs for the state (sba.gov/district/south-carolina). Ask the center about any fees. Neither office is affiliated with Deerbank.
Where Deerbank Fits Among South Carolina Lenders
Deerbank Capital Group matches your request with funding partners, who review it and make their own decision. Instead of applying to several lenders one by one, an owner describes the bill once and the request goes to partners whose products fit. Partners set every rate and term. The step-by-step page explains the process, and the Conway, SC page has the county's business figures; every guide is on the resources page.
A Bank Offer and an Online Offer Compared by Total Cost
Illustration only, invented figures: a bank offers $80,000 at 9% over 60 months, about $1,661 a month and $19,640 in interest (our arithmetic). An online lender in this invented example offers the same $80,000 over 24 months at 18%, about $3,994 a month and $15,854 in interest (our arithmetic). In this invented example, add fees to each total before comparing.
By Deerbank Capital Group ยท Updated
