Capital Overview
Lending
A strong private sector is vital for rural communities to thrive, and the health of our small towns is reliant on the success of our urban hubs now more than ever. This is why the NC Rural Center is committed to serving small businesses and small-town entrepreneurs - connectors between urban and rural spaces - to ensure the sustainability and growth of our entire state.
Lending is one of the main facets of our work. We deliver capital and other resources to support existing small businesses and enable the emergence of successful entrepreneurs throughout the state through intermediary and direct lending programs. Each program works differently, but serves the same purpose: to expand access to capital.
Our Lending Programs
Each unique in offering, our lending programs offer ways for trusted, mission-aligned lenders to partner with us for greatest impact, and for entrepreneurs and small business owners to secure financing to realize their dreams. We invite you to learn more about what we offer and encourage you to connect with our staff as we work together to ensure economic stability in all parts of our state.
Intermediary Lending
Our intermediary lending programs are tailored to mission-driven lending organizations that provide loans to small businesses and entrepreneurs.
State Small Business Credit Initiative (SSBCI) – Established in 2010 by the Small Business Jobs Act and funded by the U.S. Department of Treasury, SSBCI is now in its second iteration with an infusion of nearly $202 million from the American Rescue Plan Act in 2022. The NC Rural Center operates three indirect lending programs under SSBCI, the Loan Participation Program, the Capital Access Program, and the NC Venture Capital Program. These three programs are regulated and designed to work with community banks, CDFIs, and investment managers in all of North Carolina’s counties.
CornerSquare Community Capital – CornerSquare Community Capital supports a trusted network of CDFIs and minority depository institutions. They are focused on reaching and serving individuals and communities that historically have struggled to access capital for reasons that include race, gender, wealth, or experience. Through this program, CornerSquare de-risks small business loans while increasing access to capital in North Carolina, 16 other states, and Washington, D.C.
Direct Lending
Our direct lending programs are tailored to small business owners and entrepreneurs who are looking to access capital for their work and who may also need coaching and other resources.
Thread Capital – Thread Capital is a CDFI focused on providing access to capital, coaching, and connections and promoting economic mobility throughout North Carolina.
Effective May 1, 2024, Thread Capital is not accepting new loan applications while we undertake a strategic assessment regarding the long-term future of our direct micro-lending program.
CLIENT PROFILE
Late-Blooming Entrepreneur Flourishing with New Barbershops
"Owning a business is like the law of attraction — you start attracting more business owners and creatives in your network and build really gratifying relationships."
Edmund Washington, owner of two franchise locations of men’s luxury barbershop No Grease