How to Qualify for Small Business Financing in North Carolina
According to a 2020 report, North Carolina is home to over 900,000 small businesses , and most of them need help acquiring financing. Small business loans are invaluable to both established enterprises and brand new startups. Working capital provides a wealth of opportunities for your business to expand, no matter how long you’ve been around. Rest assured, there are financing solutions for every small business in North Carolina. Here’s a brief guide to the most common funding options available to small business owners: Bank Loans When you’re beginning to research small business financing, long-term loans from banks and credit unions are a great place to start. Just one example – if you qualify, the Carolina Small Business Development Fund offers loans of up to $250,000. SBA Loans The Small Business Administration (SBA) is a federal agency which was created to provide resources to small businesses looking for funding. It offers a variety of low-interest long-term small business financin