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The STEP for Small Business Community Loan Fund works with individuals from across rural North Carolina who have sound ideas for starting or expanding a small business but may have difficulty obtaining a loan from traditional sources.  Here are a few details about the fund:

 

WHAT DOES THE SMALL BUSINESS COMMUNITY LOAN FUND OFFER?

-  Loan amounts range from $500 to $25,000 for small business startup or expansion

-  All loans are offered in combination with business planning and technical assistance

-  Loans will be reviewed by a local committee and serviced by the Rural Center

-  Loan funds may be used to purchase equipment, inventory, or as working capital

-  The loan fund does not compete with banks or other lenders, but rather, it is designed to serve as gap funding or complementary financing for small businesses

 

WHERE ARE FUNDS AVAILABLE? Modeled

There are STEP for Small Business Community Loan Funds established in seven rural North Carolina towns:

 

-        Elizabethtown

-        Elkin

-        Lansing

-        Marion

-        Scotland Neck

-        Siler City

-        Star


 


WHO IS ELIGIBLE?

Please contact your local loan officer for the specific requirements for your towns loan fund. (found below)

Basic requirements are:

-  You wish to start or expand a small business.

-  Your business is located _______ (towns to define area)

-  You are 18 years or older

-  And, of course, you have to have a sound business idea.

The fund also encourages applications from low-income, female and minority borrowers.  The only way to be sure if you qualify is to apply.

 

HOW DO I GET STARTED?

Contact your local loan officer or the Rural Center staff for more information. To apply, complete and submit a pre-application. Once received, your local loan officer and a member of the Rural Center staff will help you through the remainder of the process.Click here to start your application.

 

 

CONTACTS

 

Amanda Sorrells

Director of Entrepreneurship

N.C. Rural Center

asorrells@ncruralcenter.org

(919) 250-4314

 

Billie Hall

Elizabethtown Loan Officer

bhall@elizabethtownnc.org

(910) 862-2066

 

Freddie Killough

Marion Loan Officer

freddiek@frontier.com

(828) 652-2215 

 

Nancy Jackson

Scotland Neck Loan Officer

Njackson@townofscotlandneck.com

(252) 826-3152

The STEP for Small Business Community Loan Fund works with individuals from across rural North Carolina who have sound ideas for starting or expanding a small business but may have difficulty obtaining a loan from traditional sources.  Here are a few details about the fund:

 

WHAT DOES THE SMALL BUSINESS COMMUNITY LOAN FUND OFFER?

-  Loan amounts range from $500 to $25,000 for small business startup or expansion

-  All loans are offered in combination with business planning and technical assistance

-  Loans will be reviewed by a local committee and serviced by the Rural Center

-  Loan funds may be used to purchase equipment, inventory, or as working capital

-  The loan fund does not compete with banks or other lenders, but rather, it is designed to serve as gap funding or complementary financing for small businesses

 

WHERE ARE FUNDS AVAILABLE? Modeled

There are STEP for Small Business Community Loan Funds established in seven rural North Carolina towns:

 

-        Elizabethtown

-        Elkin

-        Lansing

-        Marion

-        Scotland Neck

-        Siler City

-        Star


 


WHO IS ELIGIBLE?

Please contact your local loan officer for the specific requirements for your towns loan fund. (found below)

Basic requirements are:

-  You wish to start or expand a small business.

-  Your business is located _______ (towns to define area)

-  You are 18 years or older

-  And, of course, you have to have a sound business idea.

The fund also encourages applications from low-income, female and minority borrowers.  The only way to be sure if you qualify is to apply.

 

HOW DO I GET STARTED?

Contact your local loan officer or the Rural Center staff for more information. To apply, complete and submit a pre-application. Once received, your local loan officer and a member of the Rural Center staff will help you through the remainder of the process.Click here to start your application.

 

 

CONTACTS

 

Amanda Sorrells

Director of Entrepreneurship

N.C. Rural Center

asorrells@ncruralcenter.org

(919) 250-4314

 

Billie Hall

Elizabethtown Loan Officer

bhall@elizabethtownnc.org

(910) 862-2066

 

Freddie Killough

Marion Loan Officer

freddiek@frontier.com

(828) 652-2215 

 

Nancy Jackson

Scotland Neck Loan Officer

Njackson@townofscotlandneck.com

(252) 826-3152