Women and minority owned businesses as well as start up companies can get low cost or interest free loans and/or free grants for their business. There are many programs available in North Carolina. Find lenders, banks, corporations, credit unions and non-profit programs below that offer funds. While any small to mid-size business can apply, there will be a certain amount of money designated for minority businesses, including Black owned companies, veterans, LGBTQ, Latinos, Asians, and others. In addition the North Carolina lenders will also give priority to women owned or run companies. The list of financial assistance programs, including grants, loans, and more is updated daily.
Small to medium sized business financing is available across the state, including in Charlotte, the Raleigh – Durham area, and other major cities. Many of the programs not only provide loans or free grants to women or minority companies, but they also give other business support. This may be advertising support, advice, marketing, free tech support, website development and more. The goal is to help a small to mid-sized business, as well as a start up company, get both the funds as well as general support they need.
Find latest loans and free grants for small businesses in North Carolina
There are often new programs announced daily, weekly, or monthly. The list of loans and grants listed below in North Carolina will be updated daily. As noted, while any business or entrepreneur can apply, there will always be a certain amount of money allocated to women, Black owned businesses, Hispanic companies, and other lenders. Veteran businesses in North Carolina also tend to get priority.
Year Round Assistance
Black entrepreneurship is being promoted by NC IDEA. At most, up to $50,000 is being offered. The funds are for black women and men, and IDEA will also give them advice, mentoring, as well as coaching services. Work with successful companies as well as businesses throughout the state can help Black startups get the support they need. Read more and apply. https://ncidea.org/grants-programs/north-carolina-black-entrepreneurship-council/
October and November 2020
Up to $12 million dollars is being provided as part of RETOOLNC. The grant money is for North Carolina businesses as part of Disadvantaged Business Enterprise (DBE) firms as well as Underutilized Businesses. This may be the disabled, minority or veteran owned, LGBTQ, or women companies among others. Each qualified business will be given up to $25,000, based on need, revenue, funding, and industry. Call (800) 228-8443.
Winston-Salem and Forsyth County businesses impacted by COVID can get financial help. The Minority Business Enterprise (MBE) is overseeing applications and given out free grants to minority companies as well as startups. A number of companies, non-profits, and other groups are donating to it. Counseling, financial aid, debt advice, and other services. https://www.winstonsalem.com/minority-business-enterprise-grant-program/
September 2020
The state government Rapid Recovery program provides loans of up to $250,000 and a 0.25% interest rate to small businesses, including Black, Latino, Asian, and Minority owned companies. Many non-profits across the state are taking applications, including the NC Rural Center, Mountain BizWorks, Golden Leaf, Business Expansion Funding Corporation, and others. There is also technical help given along with the loan, including free business coaching, sales or marketing help, and more. More details here. https://ncrapidrecovery.org/
August 2020
The Alamance Chamber, Alamance County, the Alamance County Economic Development Foundation and the Alamance Community Foundation announced a partnership with Self Help Credit Union to establish a small business loan program. The loan program will aim to focus on underserved businesses and areas, and minority and woman-owned businesses are strongly encouraged to apply. https://www.self-help.org/alamance-loans
By Jon McNamara
