The Rural Economic Development Center analyzes capital markets statewide, determines gaps in business financing and makes recommendations for corrective action. The Microenterprise Loan Program and the Rural Venture Fund help fill identified gaps with special types of funding.
Microenterprise Loan Program
The Microenterprise Loan Program serves the smallest rural businesses through a combination of loans, business planning and technical assistance offered in partnership with small business centers. The program works with individuals who have sound ideas for starting or expanding a small business but do not qualify for bank loans. The Center offers group lending available in selected counties and individual lending, available in all 85 counties. The Microenterprise Loan Program processes loans up to $25,000 in combination with business planning and technical assistance.
Rural Venture Fund
The Rural Venture Fund will offer a new source of capital specifically designed for qualified businesses in economically distressed counties of North Carolina. Investments will carry the expectation of a return, but on less demanding terms and over a longer period of time than available with traditional business financing. Through their growth, these businesses will create jobs and build wealth where they are needed most.
The North Carolina Rural Economic Development Center runs the Microenterprise Loan Program and the Rural Venture Fund offering a variety of financing options for business start-ups and expansions in rural North Carolina.
For eligibility and application requirements, visit the North Carolina Rural Economic Development Center Business Loan Program website.