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Choose a topic for more information:
Finding money
for your business
From local banks to venture capital, you can find the money
you need for your business or idea in Watauga County!
Traditional Lending
Local Banks & Lending Institutions:
Numerous local and regional banks and lending institutions provide
access to traditional small business loans. Click here to visit
the Boone Chamber's website listings for banks and lending institutions.
U.S. Small Business Administration:
MicroLoan Program: New and existing small businesses can apply
for up to $25,000, with up to six years repayment plan. Intermediary
lenders such as the High Country Council of Governments in Boone
partner with the SBA to provide not only the loan, but also
management and technical assistance designed to help ensure
success.
U.S. Small Business Administration - Charlotte Business District
230 South Tyron, Suite 700
Charlotte, NC 28202
(704.372.0711)
Venture Capital
AdvantageWest NC - Blue Ridge Angel Investor Network (BRAIN):
The membership based, non-profit BRAIN is chartered to: educate
entrepreneurs on capital opportunities; create a meeting place
for members to network and share ideas; and provide a forum
for business ideas to get reviewed by investors.Alternative
Lending
Assisted Lending
Small Business Center, CCC & TI:
NC REAL Enterprises, a non-profit organization based in Chapel
Hill, NC, works with Caldwell Community College & Technical
Institute (CCC & TI) and other community colleges to provide
adults of all ages with the opportunity to become entrepreneurs.
In the first year, participants will analyze the local community,
choose the business they intend to operate, develop a viable
business plan, and seek funding (from NC REAL's revolving Loan
Fund or other sources.) In the second year, participants will
learn the skills they need to operate their businesses successfully
and solve management problems that arise. Students have continuous
assistance from staff, instructors and members of the Community
Support Team, a group of local business and community leaders.
Applicants are interviewed and evaluated to determine interest,
abilities and potential for success in the program prior to
acceptance. For more information, contact:
Director, Small Business Center
Caldwell Community College & Technical Institute
1000 Hickory Blvd, Hudson, NC 28638
(828.297.2185)
High Country Council of Governments and Small Business Loans:
Designed to help communities by stimulating growth and expansion
of small businesses within a defined area of operation through
long-term, fixed-asset financing. By providing this service,
the program enables communities to create jobs, increase their
local tax base and expand business ownership. Through this joint
federal government/private sector program, financing for the
acquisition of land and building construction, expansion, renovation
and equipment is available to small businesses for up to 25
years. High Country provides 50% of the financing; SBA, 40%;
the small business, 10%.
High Country Council of Governments
Executive Arts Building, Suite 11, Box 1820
Boone, NC 28607
Contact: Rick Herndon at 828.265.5437
www.RegionD.org
Minority, Rural and Low-Wealth Business Resources
Public and Private sector organizations providing a range of
business-related services to businesses owned by economically/socially
disadvantaged individuals and/or women:
Community Development, North Carolina Dept. of Commerce
430 N. Salisbury Street, Raleigh, NC 27611
(919.733.5811)
www.nccommerce.com
Carolina Association of Minority Supplier Development Councils
5624 Executive Center Drive, Suite 106, Charlotte, NC 28212
(704.536.2884)
Small Business Administration,
Minority Economic Development Division
200 North College Street, Suite A 2015, Charlotte, NC 28202-2173
(704.344.6590 or 800-U-ASK-SBA)
www.sba.gov
WAMY Community Action:
W.A.M.Y. administers a MicroLoan Program funded by the Small
Business Administration with additional funding from the Sisters
of Mercy of North Carolina Foundation, Inc. The purpose of the
program is to assist female, minority, and low-income entrepreneurs,
small business owners, and other interested persons by providing
the necessary funding and technical assistance to start, expand,
and maintain a small business.
Funds are available as fixed-interest loans of no more than
$10,000 with a term of six years or less. Loan proceeds may
by used for working capital, inventory, supplies, and equipment.
For more information contact:
Wamyloan@bellsouth.net or visit www.wamyca.org.
(828) 765-9123 ~ (828) 264-2421
Self-Help Credit Union:
Self-Help is an innovative lender providing financing to small
businesses and nonprofit organizations in North Carolina. They
specialize in lending to successful enterprises that need special
financing not available from their local banks. Their financing
can help companies and nonprofits that need more capital than
a bank will provide, or companies that are just not yet ready
for conventional financing.
Visit their website for a complete list of available loan products
and assistance: http://www.self-help.org/commerciallending/index.asp.
Self-Help - Asheville office
34 Wall Street, Suite 704
Asheville, NC 28801
(704) 253-5251
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