Small Business Lending in Tobacco-Dependent Counties

Organization:
Center for Community Self-Help
Amount:
$200,000.00
Program Area:
Open Grants Program
County of Applicant:
Durham
Description:

The grant to the Center for Community Self-Help grant will be used to begin a targeted program of lending to small businesses in rural NC, particularly those counties most affected by the decline in the tobacco industry. The main focus of the project would be job creation through expanding small businesses and providing technical assistance for start-up and growth. Self-Help will leverage the grant 4:1 with new and existing loan capital, drawing $1 million in new lending to areas most negatively impacted by the decline in tobacco. The GLF grant will allow Self-Help to provide technical assistance to 150 to 200 businesses over three years. The $1 million in new loan capital could impact 20 to 30 businesses directly, helping to create up to 100 jobs.

Contact:
Ms. Mairi Rosko 301 W. Main Street Durham, North Carolina 27701 (919) 956-4442
Areas Served:
Carteret, Craven, Duplin, Edgecombe, Greene, Jones, Lenoir, Nash, Onslow, Pamlico, Pitt, Wayne, Wilson, Beaufort, Bertie, Camden, Chowan, Currituck, Dare, Gates, Halifax, Hertford, Hyde, Martin, Northampton, Pasquotank, Perquimans, Tyrrell, Washington, Alamance, Caswell, Davidson, Davie, Forsyth, Guilford, Montgomery, Randolph, Rockingham, Stokes, Surry, Yadkin, Chatham, Durham, Franklin, Granville, Harnett, Johnston, Lee, Moore, Orange, Person, Vance, Wake, Warren

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