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| MICROENTERPRISE LOAN PROGRAM |
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The Microenterprise Loan Program operates under the umbrella of the Small Business Center at Lenoir Community College. The primary goal of the program is to help entrepreneurs establish and grow their businesses by brokering professional technical assistance and by providing small loans for start-up and growth capital to small business owners in Lenoir, Jones and Greene Counties.
The program is designed to help people who may have trouble getting loans
from banks or other traditional lending sources. This often includes women,
members of minority groups, people with low incomes and limited assets,
and people who live in rural areas. But you don't have to fit into any
particular group to get help.
This individual lending program is similar to bank financing. Referrals are made to the program by a network of community organizations and individuals already providing business assistance.
What is required? |
You must:
- Be a U.S.
citizen or permanent resident
- Live in
North Carolina
- Be at
least 18 years of age
- Own/operate a business in NC/or have sure plans to do so |
- Have fewer than 10 full-time employees
- Be located
in a rural countyusiness
must: |
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| Available technical assistance includes: |
- Help developing
a business plan
- Classes & Workshops |
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Support from other business people |
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Counseling |
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| How does it work? |
-Submit
a loan request that includes information on your
personal finances & business.
-A credit
committee reviews your loan application and makes a loan decision.
-The largest
loan available is $25,000.
-You pledge collateral, such as a car or equipment, as security.
-You may
have up to five years for repayment.
-Interest
rates are competitive, based on market & degree of risk. |
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| For more information, please contact: |
Greg Hannibal
Director of Small Business Center/Microenterprise Loan Agent
Kinston Enterprise Center (Building 26)
327 N. Queen St.
Kinston, NC 28501
Ph: (252) 522-4676, ext. 2021
Email: ghannibal@lenoircc.edu |
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