The Institute's Financial Programs & Services

SBA Loan Programs

Emerging Markets Investment Fund

The Emerging Markets Investment Fund (EMIF) was created to offer working capital to help small, minority and woman-owned businesses to: grow, expand and sustain their operations; participate in the multi-billion dollar government procurement market; and achieve meaningful participation in the private sector market

The minimum loan amount is $40,000. The maximum amount is $250,000.

The following documents are needed in order to apply:

• Signed contract
• Cost estimate/cash flow projections for contract
• YTD financial statements
• Prior year financials (income statement and balance sheet)
• Personal financial statement
• Credit report (business & personal)

Click here to download flyer with frequently asked questions.

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Golden LEAF Loan Program at Self-Help

The Institute is partnering with Golden LEAF and Self-Help to provide loans to help small businesses in economically-distressed, rural, and tobacco-dependent counties in North Carolina

Requirements for Program

• Solid business plan with 2 years of cash flow projections
• Experience/skill in your industry and in management of a business
• For start-ups, at least 20% of loan amount in cash to put into the business
• A clear explanation of how this loan will help your business grow or expand
• Moderate to good credit
• Collateral in proportion to loan size

 Eligible Uses Include

• Start-up capital
• Working capital
• Equipment and inventory purchases
• Acquisition, construction, or renovation of facilities

 Click here to download flyer.

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Bonding Assistance

The Institute will provide:

• A clearinghouse for technical assistance.
• Technical assistance in business plan writing, loan packaging and developing business projections.
• Additional referrals, when necessary.

Our bonding partners will provide:

• Turnaround of 5 business days or less for completed package submitted.*
• A relationship with a committed surety that will underwrite with flexibility.
• Recommendations on increasing bonding capacity for each submission.

* Faster turnaround for bonds less than $300K with personal credit scores of 650+.

Firms should meet the following requirements:

• In business for at least 2 years.
• Have adequate liability and workers' compensation insurance.
• Have done work for a state or municipality agency in the last 12 months.
• Have demonstrated successful completion of jobs in the past.
• Have appropriate licenses.
• Are incorporated in North Carolina.

The following core documents are needed to apply for bonding:

• Bonding Application **
• Tax Returns and/or Financial Statements
• Reference (State agency or local municipality)
• Bank Reference **
• Personal Financial Statement **

Click here to download flyer.

**Contact NCIMED for the applicable forms.

 Loan Packaging

The Institute can assist MWBEs with commercial, small business, and working capital loan acquisition. Much of the due diligence required in processing business loans can be done in-house, potentially shortening the loan origination and underwriting timeframe. Also, the Institute benefits MWBEs by pulling one copy of their personal and business credit reports and supplying it to its lending partners as opposed to each prospective lender pulling their own credit report.

Lending

N.C.-Based Venture Capital Firms 

* Life sciences encompasses companies in the fields of biotechnology, pharmaceuticals, biomedical technologies, life systems technologies, nutraceuticals, cosmeceuticals, food processing, environmental, biomedical devices, and organizations and institutions that devote the majority of their efforts in the various stages of research, development, technology transfer and commercialization.

Additonal information about financing opportunities can be found at the SBTDC's Capital Opportunities website and Business Link North Carolina's Financing and Capital website.

SBA Loan Programs

The 8(a) Business Development Program

The program provides eligible firms with greater access to the resources they need to grow and develop their businesses. This, in turn, improves their ability to compete on an equal footing with other firms in the mainstream American economy.  For more information on 8(a) status determination and forms, visit the 8(a) program site.

The 504 Program

The CDC/504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. A Certified Development Company is a nonprofit corporation set up to contribute to the economic development of its community. CDCs work with the SBA and private-sector lenders to provide financing to small businesses.  There are about 270 CDCs nationwide, with each covering a specific geographic area.

Typically, a 504 project includes a loan secured with a senior lien from a private-sector lender covering up to 50 percent of the project cost, a loan secured with a junior lien from the CDC (backed by a 100 percent SBA-guaranteed debenture) covering up to 40 percent of the cost, and a contribution of at least 10 percent equity from the small business being helped.

More information can be found at the SBA's 504 web site.

Specific financing opportunities around eco-friendly and "green" initiatives can be found at the N.C. Incentives for Renewable Energy website.