The Rural Center's NC Venture Capital Program, branded as NCInvest, supports early-stage, high-growth small businesses in North Carolina, primarily through equity investments. This program’s goal is to invest in small businesses, founders, or fund managers who qualify under the guidelines for socially and economically disadvantaged individuals.
North Carolina programs providing financial assistance for entrepreneurs
North Carolina operates three small business financing programs: one loan participation program, one capital access program, and one equity/venture capital program. The North Carolina Department of Commerce is the implementing entity for the state and the North Carolina Rural Economic Development Center administers all programs.
State SSBCI programs
North Carolina Loan Participation Program
The Loan Participation Program works with local lenders across North Carolina to help expand access to capital. The Rural Center has managed the program as part of its SSBCI portfolio since it launched in 2011, partnering with banks, community development financial institutions (CDFIs) and other institutional lenders to help small businesses grow.
North Carolina Capital Access Program
The Capital Access Program provides additional loan loss reserves to institutional lenders for business loans that they enroll. The reserve is funded by the lender and borrower together contributing 7 percent of a loan or line of credit to the reserve fund which will be matched with NC CAP funds. Lenders may use the reserve account to cover any losses on their CAP loans.
North Carolina Capital Access Program
The Capital Access Program provides additional loan loss reserves to institutional lenders for business loans that they enroll. The reserve is funded by the lender and borrower together contributing 7 percent of a loan or line of credit to the reserve fund which will be matched with NC CAP funds. Lenders may use the reserve account to cover any losses on their CAP loans.
Featured state lenders
Grameen America
Grameen America offers microloans to women entrepreneurs in various cities across the United States. To be eligible for a loan, applicants must reside within approximately 15 miles of a branch location.
Meck Lending
In partnership with Mecklenburg County, CSBDF offers the Meck Lending program to empower entrepreneurs and grow local businesses. The program provides loans of up to $75,000 to support small businesses in Mecklenburg County with expansion, working capital or other business needs.
The Rural Microentrepreneur Assistance Program
The Rural Microentrepreneur Assistance Program offers microloans up to $50,000 with a 7% fixed interest rate to eligible small business owners in USDA-designated rural areas across North Carolina.
Carolina Small Business Development Loan
CSBDF’s Carolina Small Business Development Loan is available for both emerging and established businesses across all 100 North Carolina counties. It offers term loans with a maximum loan amount of $350,000 and flexible repayment terms.
Capital for Growth
Partner Community Capital's Capital for Growth loan program lends to small to mid-sized businesses, agricultural enterprises and nonprofits that have positive community, economic and environmental impacts but can't access traditional financing due to perceived risks.
Ready, Set, Grow! Loan
Designed for entrepreneurs transitioning from a side hustle to a full-time business, this loan offers up to $15,000 in flexible funding. With a simplified application process, it's ideal for early-stage businesses looking to cover startup costs, inventory, marketing or working capital.
Madison County Small Business Loan Fund
The Madison County Small Business Loan Fund aims to provide a rapid source of assistance for Madison County-based businesses that have been impacted by COVID-19. Loans are available for up to $10,000, based on the business' pre-COVID-19 revenue.
NC SSBCI program details at a glance
State Small Business Credit Initiative (SSBCI) program administrator(s): The North Carolina Department of Commerce along with the North Carolina Rural Economic Development Center