USDA Business Loans in Myrtle Beach, SC
Find lenders offering usda business loans in the Myrtle Beach, including Conway, North Myrtle Beach, Surfside Beach, and surrounding areas. Compare rates, terms, and programs from 2 lenders.
USDA Lenders Serving Myrtle Beach
2 lenders offering usda business loans in the Myrtle Beach, SC area.
Live Oak Banking Company
SBAWILMINGTON, NC
One of the nation's top SBA 7(a) lenders, specializing in lending to small businesses across healthcare, veterinary, beverage, self-storage, and other industries. Offers SBA loans, USDA loans, conventional business loans, and commercial real estate financing.
Celtic Bank Corporation
SBASALT LAKE CITY, UT
Industrial bank and top SBA preferred lender headquartered in Salt Lake City. Specializes in SBA 7(a) lending for business acquisitions, partner buyouts, commercial real estate, and working capital. Also offers USDA business loans.
Myrtle Beach Commercial Real Estate Market
Myrtle Beach's CRE market is overwhelmingly driven by tourism and retirement migration, with the Grand Strand's 60 miles of coastline generating demand for hospitality, retail, and resort-oriented commercial properties. The market has diversified beyond seasonal beach tourism with medical facility expansion from Tidelands Health and Conway Medical Center, as well as growing demand for self-storage and senior living facilities tied to the area's rapid population growth. The Highway 17 Bypass and Highway 501 corridors are the primary commercial arteries, with significant retail, medical office, and flex-space development. Market seasonality remains a key underwriting factor, as many retail and hospitality properties generate 60-70% of annual revenue during the May-through-September peak season.
Key Economic Drivers
- ●Grand Strand tourism economy attracting approximately 20 million visitors annually
- ●Rapid retiree and permanent resident in-migration driving multifamily, medical, and retail demand
- ●Myrtle Beach International Airport's expanded service increasing year-round accessibility
- ●Coastal Carolina University and Horry-Georgetown Technical College anchoring the Conway corridor
Market Insight
Myrtle Beach is one of the fastest-growing metro areas by population percentage in the U.S., and this sustained in-migration has shifted the CRE market from purely seasonal tourism toward year-round demand for medical offices, grocery-anchored retail, and workforce housing.
USDA Business Loans in Myrtle Beach, South Carolina
USDA Business & Industry (B&I) loans provide government-guaranteed financing for rural businesses. Similar to SBA loans but for rural areas, they offer competitive terms for business acquisition, real estate, equipment, and working capital in communities with populations under 50,000. In the Myrtle Beach metro area, borrowers can access 2 lenders offering USDA financing, including Conway, North Myrtle Beach, Surfside Beach, and surrounding areas. Loan amounts typically range from $50K to $25M with rates from Variable or fixed, competitive.
Who Should Consider USDA Business Loans?
- Rural businesses
- Agricultural operations
- Rural real estate
- Businesses in towns under 50,000 population
Key Requirements
- Business in area with population <50,000
- For-profit or nonprofit
- Unable to get credit elsewhere
- Sufficient cash flow
Advantages
- ✓Up to 80% government guarantee
- ✓Long terms available
- ✓Competitive rates
- ✓Flexible use of funds
Considerations
- •Must be in eligible rural area
- •Lengthy approval process
- •Extensive documentation
- •Limited lender availability
USDA Business Loans in Other South Carolina Cities
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