Main Street Lending Fund ($100 Million)
Overview
- The fund provides loans to cash flow positive, North Carolina businesses that may face challenges obtaining traditional bank loans but deserve to borrow money at reasonable but slightly higher interest rates.
- The fund is entrepreneur-friendly. Business owners are treated with respect and get honest answers quickly. People feel better leaving than when they came.
- The fund provides a social benefit by considering borrowers traditionally perceived to be disadvantaged. The fund is not only for people who are disadvantaged, though.
- The fund is a for-profit entity.
Business Qualifications
The fund will lend to the following:
- Businesses that have been operating for more than one year.
- Businesses that are cash flow positive—that can prove they are making a cash profit.
- Businesses that are most commonly found on “Main Street” and that are providers of goods and services.
- Businesses that are not speculative startups.
Types of Loans
- Loans are between $25,000 and $1,000,000.
- Interest rates are between 8% and 15%.
- Loan terms are from six months to five years.
To learn more, please contact us at [email protected]
