Organizations Filed Purposes:
PALMETTO STATE GROWTH FUND LESSENS THE BURDENS OF SOUTH CAROLINA'S STATE GOVERNMENT BY ASSISTING THE SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY IN MEETING ITS STATUTORY PURPOSES AND OBLIGATIONS OF PROMOTING ECONOMIC DEVELOPMENT AND INCREASING AND/OR RETAINING EMPLOYMENT IN SOUTH CAROLINA.
PALMETTO STATE GROWTH FUND PROVIDES FUNDING FOR ECONOMIC DEVELOPMENT LOANS THAT PROMOTE PRIVATE BUSINESS DEVELOPMENT AND JOB GROWTH. THE COMPANY PROVIDES LOANS TO A SPECIALIZED SMALL BUSINESS LENDER WHICH IN TURN USES THE FUNDS TO PURCHASE LOAN PARTICIPATIONS IN SMALL BUSINESSLOANS THAT WOULD NOT BE MADE THROUGH TRADITIONAL SOURCES.
PALMETTO STATE GROWTH FUND IS A LIMITED PARTNER IN A SBA SMALL BUSINESS INVESTMENT COMPANY (SBIC) WHICH MAKES BUSINESS LOANS AND EQUITY INVESTMENTS IN LOWER MIDDLE MARKET BUSINESSES. THE COMPANY'S INVESTMENT PROVIDED INITIAL CAPITAL FOR THE SBIC WHICH IS THE FIRST SBIC BASED IN SOUTH CAROLINA. THE SBIC WAS LICENSED AND BEGAN OPERATIONS IN 2018.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Greg Thompson | DIRECTOR | 1 | $0 |
| Karen J Calhoun | DIRECTOR | 1 | $0 |
| Joseph C Reynolds | SECRETARY | 1 | $0 |
| Michael W Nix | DIRECTOR | 1 | $0 |
| J Thomas Johnson | PRESIDENT & | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201923189349309882_public.xml