SCOTLAND COUNTY INNOVATION:

What HELP?
Do you know what programs are available to help displaced workers or small businesses survive this difficult economy?

Here are a few NC Rising has highlighted.

GATE Program:

GATE stands for: Growing America Through Entrepreneurship.
North Carolina is one of four states participating in this program for displaced workers in the state’s 85 rural communities. The US Department of Labor is picking up the tab on the program expected to end later this year, 2011. The idea is to help laid off workers become their own boss. GATE counselors help participants develop business plans and then coach these would be entrepreneurs through the challenging stages of opening or expanding a business. Along with the advice, some microenterprise loans are available.

The program is offered at the Small Business Centers at eight different NC Community Colleges: Isothermal, Lenoir, Randolph, Richmond, Robeson, Rockingham, Surry, Western Piedmont. Virtual sites are also available with counselors providing help by phone.

1-888-962-4283
www.ncprojectgate.org


CAP Program:

CAP stands for Capital Access Loans.

The idea behind this federal program to is to help existing or start up businesses that might not typically qualify-- get loans and in turn, grow the state’s economy.
Businesses with fewer than 500 employees are eligible to borrow up to 5 Million Dollars.Businesses pay an extra fee to the fund to help cover these higher risk loans.

North Carolina was the first state to offer one of these loans. A Lincolnton logging company took advantage of the opportunity to expand their business. North Carolina will be able to loan up to 800 Million Dollars thanks to this program. The North Carolina Rural Center is in charge of administering the loans over the next two years.

Here’s a list from the Rural Center’s web site of the banks who are participating so far:

Anson Bank & Trust

Bank of Stanly

BB&T

Cabarrus Bank and Trust

Carolina Trust Bank

Citizens South Bank

Community Bank of Rowan

East Carolina Bank

First Citizens Bank

First National Bank of Shelby

Forest Commercial Bank
Great State Bank

KeySource Commercial Bank

Lumbee Guaranty Bank

Macon Bank

Mountain Biz Capital

N.C. Minority Support Center

North State Bank

Randolph Bank & Trust

Select Bank & Trust

SoundBank

Southern Community Bank & Trust

The Little Bank


Contact the NC Rural Center for more information:
(919) 250-4314
www.ncruralcenter.org