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.
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 |
Your business
must:
-Have fewer
than 10 full-time employees
-Be located
in a rural county |
|
Available technical assistance includes:
- Help developing
a bus.plan
- Classes & Workshops
-
Support from other bus. people
-
Counseling |
The individual lending program, operated by the Rural Center, is more
like a bank. It's a good choice for people with more business experience
and greater financial needs than the group lending program. Referrals
are made to the program by a network of community organizations and individuals
already providing business assistance.
What is required? |
-You 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 be competitive based on the market & degree of risk involved
with request. |
Some borrowers join a group lending program. This program is especially
good if you have been in business for less than two years or would like
more support while developing your business. You will work with a group
of four to ten small business owners, so you can learn from each other.
Loans are available in three stages from an initial stage of up to $1,500
to a third stage of no more than $8,000. The group lending program is
operated through local sponsoring organizations. |
For more information about these programs please contact: |
 |
Vu Donie
Enterprise Agent
327 N. Queen St.
Kinston, NC 28501
Ph: (252) 522-4676 ext. 2018
Email: vdonie@lenoircc.edu |
 |
Bobby Taylor
Enterprise Agent
327 N. Queen St.
Kinston, NC 28501
Ph: (252) 522-4676 ext. 2008
Email: btaylor@lenoircc.edu |
|
| |
| - Back to SBC |
| |
| - Back to LCC Home |
