Entrepreneurs in Transylvania County are in a great position. Our community has numerous partners capable of providing advice, technical expertise, and capital resources to help your idea and business become reality. The Alliance can connect you with appropriate resources based on your individual needs.
Small Business Administration (SBA): Since its founding the U.S. Small Business Administration has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses. The SBA offers loans specifically designed for small businesses: 7(a), Microloan Program, Real Estate & Equipment Loans: CDC/504. To learn about these programs and to understand if, and which opportunity might be beneficial to your business please contact the local office to schedule a 1-on-1 appointment or phone call.
North Carolina Rural Center: The Rural Center’s mission is to develop, promote and implement sound economic strategies to improve the quality of life of rural North Carolinians. As part of this mission the Rural Center has developed a Microenterprise Loan Program. This program is designed for individuals with sound ideas for starting or expanding a small business but may not qualify for a traditional bank loan. The program has three components:
- Standard loans, which are available in amounts up to $25,000
- Express loans, which are capped at $5,000. Loan decisions can be made within 5 business days.
Mountain BizWorks: Mountain BizWorks provides small business loans to help businesses in Western North Carolina launch and expand. Loans provided through this organization range from $1,000 to $150,000. Loans are targeted towards entrepreneurs who have trouble securing funding from banks and other traditional sources. Mountain BizWorks emphasizes cash flow analysis, considers non-traditional collateral, and offers flexible loan structures. The organization also works to ensure clients’ success by offering highly customized, peer-to-peer business coaching by an extensive network of local, successful business owners. This innovative blend of lending and learning helps entrepreneurs overcome obstacles, grow strategically, and create jobs.
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