GREENVILLE, S.C. (Sept. 29, 2011)—Michelin North America Inc.'s Development Upstate program, which provides low-interest loans to socially and economically disadvantaged small- to medium-sized businesses in Upstate South Carolina, has approved loans totaling $241,000 for four area companies.
The businesses receiving loans are:
* Divine Desserts in Simpsonville. The company recently was launched by Andrea Goodjoin, who walked away from a seven-year nonprofit position to turn her passion for baking into a full-time business, according to Michelin. Divine Desserts sells a full line of Southern-style desserts, including cakes and cupcakes, and has online sales capabilities;
* RockinBoat L.L.C. in Clinton. Owned by Scott Manley, the firm seeks out inventions with marketing potential from research universities, government labs, commercial institutions and individual inventors. RockinBoat began producing its first product, a surface coating stripping solvent under the brand name RonJohn, in 2011. The loan from Michelin will enable the start-up company to fund military testing as well as equipment and marketing expenses;
Textile Trends L.L.C. in Jacksonville. The start-up company converts American-made fabric into napkins, table covers and aprons using a specialized cut-and-sew operation, Michelin said. These linens are then sold to industrial laundry retailers, which then rent them out to restaurants and hotels. Textile Trends said it will use the loan to purchase equipment and add 100 employees; and
Vision 2 Destiny in Spartanburg. Launched in 2003, the company is primarily an assembly, sequencing and manufacturing business but has added a transportation services division. The company is using its loan to purchase five trucks and hire up to 11 Class A CDL professional drivers.
Michelin Development Upstate loans are available in amounts between $10,000 and $100,000 and have up to five-year payment terms. They are available to businesses based in the counties of Abbeville, Anderson, Cherokee, Greenville, Greenwood, Laurens, Oconee, Pickens, Spartanburg and Union., according to Greenville-based Michelin.