Recent Projects

Manufacturing / Construction:

The ADC participated in a project for Freidrich and Rath, Inc., a plastic injection molding company located in Anderson, SC. The ADC funds of $200,000 will be used for the purchase of equipment and working capital along with funds from National Bank of South Carolina

Thermal Processing a brazing company located in Greenville County received $70,000, as part of a total $175,000 project that involves the purchase of a furnace for brazing. Pinnacle Bank participated in the funding.

The Thomas Creek Brewery, LLC, located in Greenville, received $42,500 from the ADC to be used to purchase additional equipment and acquire additional cold storage space. Branch Banking and Trust Company is participating in the funding.

Retail:

Esbenshade, Inc d/b/a Auntie Anne’s Soft Pretzels was approved for a loan in the amount of $102,000, which is part of a total project of $287,500 to expand to Haywood Mall in Greenville. The project involves BB&T of SC as the primary lender. Esbenshade, Inc. currently has the Auntie Anne’s franchise at the mall in Myrtle Beach

The Bari Company, LLC was funded through the SBA 504 program for a loan of $600,000. BankAmerica is the lead lender on this project to purchase real estate of the Peppino’s Pizza restaurant location in Clemson,  SC

The Country Crossroads C-Store was provided an ALF loan in the amount of $200,000 as part of a total $695,000 project. The project involves the purchase of assets of an operating convenience store in southern Anderson County. The project was undertaken with Palmetto Bank.

Wholesale / Service:

A SBA 504 loan to Gemini Investments, LLC was approved for the remodeling of a building on Main Street West End area of Greenville. The funds of $506,000 will finance the renovation of the building into an Art Gallery and Events Center. This project was done in conjunction with the Bank of Travelers Rest.

A B&I loan of $1,540,750 for Hampton Avenue, LLC was approved for use in the renovation of a property in Pickens, SC. Hampton Avenue, LLC is the newly established real estate holding company for a residential treatment facility, located In Pickens, SC and operated by Avalonia Group Homes, Inc. The residential treatment facility provides both general and specialized non-hospital based interdisciplinary services 24/7 for persons with behavioral health disabilities; victims or perpetrators or domestic violence or abuse; and persons with eating disorders, sexual disorders, or various addictions. The primary clients served are adolescents, aged 12 through 18, in the SC Department of Social Services and Department of Health and Human Services (DHHS) systems.

A loan of $200,000 was made to Riverdale Development Venture, LLC for the rehabilitation of a hydro-electric plant at the former Inman Mills Riverdale plant in Enoree, SC. The company has obtained the required permit to operate from the U.S. Federal Energy Regulatory Commission and has a Power Purchase Agreement from Duke Energy to purchase all power production from the Riverdale site. This project was undertaken in joint effort with Amerifund and a $50,000 grant from USDA.

A request to Julia Peters Studio was approved for ALF funding in the amount of $144,000. This amount was combined with funds from Palmetto Bank on this $360,000 project to purchase and renovate space for Ms. Peters' art studio, art classroom, and art gallery in downtown Greenville.