Capital Opportunities for Small Businesses - sbtdc

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C A P I T A L O P P O R T U N I T I E S F O R SMA L L B U S I N E S S E S 252.522.8021 Type: Group Counties: Greene, Jones, Lenoir, and Wayne www.lenoircc.edu/Small_Business_Center/micl oanindex.htm Mountain BizWorks, formerly Mountain Microenterprise Fund 153 S. Lexington Ave. Asheville, NC 28801 828.253.2834 Type: Group Counties: Buncombe, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison, Polk, Swain, and Transylvania www.mountainbizworks.org NC Institute of Minority Economic Development 114 W. Parrish St. Durham, NC 27701 919.956.8889 Type Individual Counties: All 100 www.ncimed.com NC REAL Enterprises 3739 National Dr., Suite 110 Raleigh, NC 27612 919.781.6833 Type: Individual Counties: active programs in 74 counties www.ncreal.org River City CDC 501 East Main St. Elizabeth City, NC 27909 252.331.2925 Type: Individual Counties: Camden, Chowan, Martin, Pasquotank, Perquimans, and Tyrell www.rivercitycdc.org Roanoke Electric Co-op POB 1326 Ahoskie, NC 27910 252.209.2236 Type: Individual www.roanokeelectric.com/default.aspx Tyrell CDC POB 58 Columbia, NC 27925 252.796.1991 Type: Individual Upper Coastal Plains Council of Governments Post Office Drawer 2748 1309 South Wesleyan Blvd Rocky Mount, NC 27802 252.446.0411 Type: Individual Counties: Edgecombe, Halifax, Nash, Northampton and Wilson www.ucpcog.org Yadkin Valley Economic Development District Inc. POB 1840 205 South Jackson St. Yadkinville, NC 27055 336.679.2200 Type: Individual Counties: Davie, Surry, Stokes, and Yadkin Defense Ventures Fund In mid-2005 Neuse River Development Authority received approval from the Golden LEAF Foundation for a grant to the Authority in the amount of $2 million to establish a Defense Ventures Fund. The Fund became active in 2006 and is designed to assist North Carolina companies or companies re-locating to North Carolina that are currently active or wish to become active in the Defense Contracting Industry. The “Defense” 124
C A P I T A L O P P O R T U N I T I E S F O R SMA L L B U S I N E S S E S definition includes all branches of the Armed Forces, Department of Defense, Homeland Security as well as certain State Department activities such as embassy protection, etc. While the Fund concentrates on manufacturing companies, all service and other Defense related industries will be considered for eligibility. The Fund can invest up to $250,000 per company in the form of “Subordinated Debt”. Contact Guy Williams at 252.638.6724 North Carolina Capital Access Program The Rural Center, in conjunction with 11 participating banks, initiated this program in 1994. The program provides loans to small and medium-sized businesses through participating banks in the state. Permissible Borrowers include corporations, partnerships, joint ventures, sole proprietorships, state-designated charitable, religious, or other non-profit or eleemosynary institutions, government-owned corporations, consumer and marketing cooperatives, and faith-based organizations. A special reserve fund was created to protect the institutions against losses from loans enrolled in the program. Funds for the Capital Access Program reserve, in the amount of $4 million, have been provided by the Golden LEAF Foundation, the Appalachian Regional Commission, the US SBA, and the N.C. General Assembly. These funds are expected to generate over $120 million in small business loans. This enables North Carolina’s financial institutions to increase lending for business start-ups and expansions without sacrificing credit quality in the bank’s overall loan portfolio. The average loan size is just over $50,000. Any legal business entity incorporated in one of the 85 rural counties of North Carolina is eligible. Businesses interested in the program should contact a commercial loan officer of one of the participating financial institutions. Participating institutions include Branch Banking & Trust Company, East Carolina Bank, First Bank of Troy, First Citizens Bank, First National Bank of Shelby, High Country Bank, Lumbee Guaranty Bank, Macon Bank, Neuse River Development Authority, Piedmont Bank, Randolph Bank & Trust Company, and Yadkin Valley Bank North Carolina Rural Economic Development Center 4021 Carya Dr., Raleigh, NC 27610 919.250.4314 www.ncruralcenter.org Clean Water Partners Program Clean Water Partners Program assists communities with planning activities, such as feasibility studies, capital improvement plans and engineering studies, for water and sewer infrastructure. Planning grants may be used for projects that address a critically needed solution to an infrastructure problem. The aim is to assist rural communities in preparations that will lead to affordable solutions in meeting their water and waste needs. Priority will be given to communities that are in violation of public health and environmental rules and regulations, to get them back into compliance. Documentation of the critical need is required to support the grant request. Additional details may be found at www.ncruralcenter.org, or contact Julie Cubeta at (919) 250-4314 or jhaiglercubeta@ruralcenter.org (To go straight to the application, see the Find It Fast menu on the right, and click on “Grant application and Reporting Forms.”) 125
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APPENDIX A: QUICK REFERENCE TO SBA
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PROGRAM AMOUNT % GUARANTEE (MAX) US
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Capital Opportunities for Small Businesses - sbtdc

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