South Carolina Telework Loan Program
This program offers loan guarantees and interest rate subsidies to qualifying South Carolinians with disabilities, their families and authorized representatives to obtain equipment for telework.
“Telework” is paid employment that is regularly performed at a location other than the employer’s customary office or place of business, including the worker’s home or a telework center or paid self-employment where a significant share of the work is done from the applicant's home.
Who can apply?
Any qualified South Carolina resident with a disability seeking a loan that would allow a very high likelihood of enabling them to either increase income through telework or initiate telework to avoid losing income through a loss of or reduction in employment.
How must the loan be used?
The program will facilitate loans to purchase a broad range of equipment. “Equipment” is defined as mechanical or electronic devices, software or telecommunication systems necessary to perform telework.
Equipment may include, but is not limited to:
- Computers, printers and related peripherals
- Software
- Office machines
- Scanners
- Office machines (e.g., calculators)
- Telecommunication devices
- Telecommunications system installation charges (e.g., telephone, DSL and internet hookup fees)
- Office furniture
- Home modifications for accessibility and/or to create a home office
- Motor vehicles for business purposes
- Assistive technology that allows an individual with a disability to improve independence, enhance quality of life and is necessary to telework.
Will everyone be able to get a loan?
No. You must have a good likelihood of repaying the loan. The program will look at your income compared with debt, stability in residence/job, business plan (if applicable) and credit history. Some applicants will be declined. But the program’s criteria (much less stringent than most banks use) often will enable many people to get loans who otherwise would not qualify.
How much can I borrow?
What is the interest rate?
Loans may range from $1,000 to $30,000. Rates will vary, but are generally lower than most loans would be for the same type of purchases.
How do I apply?
Applications are currently available by mail or fax. Contact Leslie Shipp (803-896-4553) for an application.
Leslie ShippS.C. Telework Loan Program
1410 Boston Ave., P.O. Box 280243
West Columbia, SC 29228
For more information, contact:
Timothy B. Russell
803-896-6349
Leslie Shipp
803-896-4553
Or call toll free
866-247-8354