The Alamance Chamber, the Alamance County Economic Development Foundation, Self-Help Credit Union and the Alamance Community Foundation have partnered to establish a revolving loan program just for Alamance County small businesses. Recognizing the value that small businesses bring to the community, these organizations want to provide a financial tool to help small business owners access the capital they need. This program aims to have a strong focus on minority and women-owned businesses, but all are welcome to apply.
Paired with the funding will be technical support and consultation from the Alamance Community College Small Business Center. Assistance can start with help completing the loan application, then move to specific business issues such as legal, marketing, or bookkeeping.
Who can apply?
- Small businesses located within Alamance County.
- Small businesses with less than $1 million in annual gross revenue.
- Business must have filed a minimum of two years of business tax returns.
What are the loan terms?
- 5.5% fixed interest rate.
- Up to an 11-year term, and 10-year amortization
- Loan amounts from $15,000 to $50,000
- First 12 months interest-only payments
- Collateral not required for loan request of $25,000 and under.
Ready to learn more and apply?
Self-Help Credit Union will be managing the application and loan fulfillment process. Click the button below for full details on the program.
