Loan pool to benefit small businesses

October 30, 2009

ROCKY MOUNT, N.C. - A new $5.5 million loan pool is intended to help North Carolina's small businesses access the capital they need in a difficult economic environment.

A $5 million grant from the Golden LEAF Foundation and $500,000 provided by the state through the N.C. Rural Economic Development Center will leverage an estimated $27.5 million in loans to the state's small businesses.

"During this economic crisis, we've watched as big business received massive bailouts, but not enough attention has been paid to small businesses, which really are the foundation of our economy," Lt. Gov. Walter Dalton says in a statement.

The loan pool will be administered by the Center for Community Self-Help, with priority for loans given to companies involved in health care, construction, green industries, agriculture or manufacturing.

For details and application information, contact Jane Hatley at jane.hatley@self-help.org.

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