Manufacturing/Construction:

• An ADC loan to The Kee Company, LLC in the amount of $75,000 and an SBA loan of $530,000 was approved by the ADC Board to finish the expansion project for this producer of wood molding.  The company, located in Travelers Rest, will create up to thirteen (13) new jobs.
• Green River Cabins, located in Spartanburg County, has purchased the assets of a company that builds modular log cabins.  Dean Garriston, the purchaser, has retained all current employees of the former company and additional employment is anticipated as the company expands.  The ADC provided $200,000 in funding secondary to the National Bank of South Carolina's primary loan of $468,000.
• The ADC provided Mr. Daniel Crosby and his two partners $200,000 of the $2.4 million needed to start MetroCon, LLC, a new business formed to supply concrete to building contractors in the "lakes areas" of Pickens and Oconee Counties.  The new operation will be located near Six Mile, South Carolina.  Financing for the purchase of the land, concrete plant, and other equipment came from a combination of funds provided by RBC Centura Bank, the ADC, and investors.  This new business will employ up to twenty people.

Retail:

• Appalachian Development Corporation in conjunction with Arthur State Bank provided total funding of $984,865 for a new barbeque restaurant, J-Bones Restaurant, in Spartanburg County.  Joe and Rita Nix are the owners.  In addition to J-Bones Restaurant, the site is also home to the Chocolate Bunny Bake Shop, which serves as a bakery and sandwich shop.

Wholesale/ Service:

• A SBA 504 loan of $558,000 to David and Lisa Fink D/B/A Your Best Body located in Gaffney, Cherokee County, SC, was approved by the SBA and by the ADC Board.  Funding will be for the construction of a new gym and spa building.
• The ADC approved and funded a loan of $135,000 to Promo Pipeline.  The loan is part of a total $510,000 project introducing a new product, an internet bulletin board posting of sale incentives.  The company is located in Greenville County and will employ up to eight people.
• The Appalachian Development Corporation provided $160,000 to Cristina Singeorza, the owner of Elite Gymnastics, for the purchase of the building that the business has been leasing.  Primary financing was provided by South Carolina Bank and Trust.  The operation offers instruction in artistic gymnastics including the vault, uneven bars, beam, and floor routines, and in the rhythmic gymnastics such as ball, hoop, ribbon, rope, clubs, and floor.
• The Appalachian Development Corporation through the SBA 504 loan program and Community Reinvestment Fund have provided $1,710,000 in funding to allow Westside Eye Center to purchase the property it has been leasing on the west side of Spartanburg.  The funding from Community Reinvestment Fund will allow the borrower to realize a below market interest rate.