While the Recycling Business Assistance Center does not lend money directly, it does provide information on a range of loan types and agencies available to recycling businesses. Two of them are the North Carolina Recycling Loan Fund and the Small Business Administration, operated in partnership with the U.S. Small Business Administration.
The North Carolina Recycling Fund is administered by Self-Help, North Carolina’s community development banking group. The loan fund nurtures fledgling businesses until they become bankable and graduate to full-service private sector financing. The project’s goal is to help 8-10 businesses per year, divert 115,000 tons of material and create or retain 80 jobs.
In the past 12 years, Self-Help has lent more than $3 million to 20 recycling companies in North Carolina, including loans to companies that handle collection and processing, paper, scrap metal, construction/demolition debris, plastics and wood.
An independent agency of the federal government, the Small Business Administration aids, counsels, assists and protects the interests of small business concerns through an extensive network of field offices and partnerships with public and private organizations throughout the United States.
For links to these loan program websites and more information about sources of funding for recycling businesses, visit the Recycling Business Assistance Center website.