Loan Fund: Partnership with Community Banks

Year Funded

2010

Amount

$220,000.00

Funds will leverage an $820,000 grant from the US Dept. of Commerce for a permanent revolving loan fund to encourage banks to make loans to businesses targeting agriculture and advanced manufacturing, particularly small companies developing new value added products at the Kannapolis research campus. Loans will be for fixed assets and must create jobs, and are subordinated to other creditors providing an additional $1,000,000 in loans.

Ms Laura Mundell
Centralina Economic Development Commission 1300 Baxter Street Suite 450 Charlotte, NC 28304