PTRC Regional Investment Fund

Organization:
Piedmont Triad Regional Development Corporation
Amount:
$1,000,000.00
Program Area:
Community-Based Grantsmaking Initiative
County of Applicant:
Forsyth
Description:

This grant provides funding to the Piedmont Triad Regional Development Corporation (PTRDC) to create an investment fund to address quality job creation, small to large business and entrepreneurial support, and redevelopment in all 12 of the PTRDC counties. The fund will also be capitalized by the Economic Development Administration (EDA) which will provde $2 million for the revolving loan fund. The PTRDC will manage the loan committee, loan underwriting and servicing, and has over 30 years of Small Business Administration (SBA) loan experience. PTRDC member banks will be consulted to market the fund. The project will also use an IMPLAN model to measure success and positive economic impact. IMPLAN software measures business loan impacts that include changes in jobs, household incomes, tax revenue, and gross regional product. Golden LEAF will provide $1 million that EDA requires as a match.

Contact:
Mr. Joseph Furstenberg 1398 Carrollton Crossing Drive Kernersville, North Carolina 27284 (336) 904-0300
Areas Served:
Alamance, Caswell, Davidson, Davie, Forsyth, Guilford, Montgomery, Randolph, Rockingham, Stokes, Surry, Yadkin

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