Capital Access II

Organization:

Rural Economic Development Center, Inc.

Amount:

$3,283,194.00

Program Area:

Economic Stimulus Program

County of Applicant:

Wake

Year:

2002

Description:

This Golden LEAF grant will be used to assist North Carolina residents in improving their economic condition by pursuing development, expansion or modernization of a small business, thereby creating and retaining needed jobs. Funds will be used to form a loan loss reserve for banks when loans are made to clients that fall within the identified program target market. The program creates the needed incentive and coverage for banks to reach the client that represents more risk that accepted under usual lending criteria. Information on the lending program and a list of participating banks can be found at www.ncruralcenter.org/grants/capital.

Contact:

Mr. Billy Ray Hall4021 Carya Dr.Raleigh, North Carolina 27610(919) 250-4314

Areas Served:

Statewide

Any project more than a couple of years old may not reflect current Board priorities.
Please contact a staff member with any questions.