There are two central forms of financing: Loans (conventionally provided by banks) and equity (value shares issued by the company to investors, family, friends, etc.). These are some potential financing sources for accessing capital.
- Chatham Loan Fund
- North Carolina Rural Economic Development Center
- SBA (Small Business Administration)
- Siler City Revolving Loan Fund for Small Business
- Slow Money NC
- USDA Rural Development
Chatham Loan Fund
The Chatham Loan Fund is a tool to help businesses in Chatham County access capital. It is used as collateral for a business loan, covering up to 50% collateralization of a loan, up to $50,000.
Chatham Economic Development Corporation will work with you and your lender to establish an account to be used as collateral on the business loan. The full amount of the loan will stay with the bank until the loan is repaid.
To learn more, contact Chatham Economic Development Corporation at 919-542-8274.
Town of Siler City Revolving Loan Fund
Town of Siler City leaders have formed a partnership with the N.C. Rural Economic Development Center to launch a $100,000 small business revolving loan fund. The goal of the partnership is to encourage small business and entrepreneurial growth in the Town of Siler City corporate limits and extraterritorial jurisdiction (ETJ).
For more information and to apply, contact Jack Meadows, Director of Planning & Community Development, at 919-742-2323 or firstname.lastname@example.org, or Jon Spoon, Chatham Small Business Center Director, at 919-545-8013 or email@example.com.