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Economic Development

What is the Business Loan Program?

The purpose of the Business Loan Program is to provide financing for the start-up or expansion of businesses that will create jobs for low to moderate income citizens in Cumberland County.

Who is eligible to receive assistance?

Business owners that will create jobs for low to moderate income Cumberland County residents*

*Note: Low/moderate income is determined at the time the employee is initially hired – not the salary offered to the resident.

Type of Assistance:

Loan Type: Micro Loans – Businesses with 5 or fewer employees, including the owner
Loan Amount: $500 - $25,000

Loan Type: Economic Development Loans – Businesses with 6 or more employees, including the owner.
Loan Amount: $25,001 and up*

*(based on business debt capacity)

Loan Purpose: Property Acquisition and/or Site Improvements
Interest Rate: 5%
Loan Term: 15 years

Loan Purpose: Machinery & Equipment
Interest Rate: 5%
Loan Term: 10 years

Loan Purpose: Working Capital
Interest Rate: 5%
Loan Term: 5 years

*Income restrictions apply

*We are currently NOT ACCEPTING applications for this program at this time. 

Contact Us

707 Executive Place
Fayetteville, NC 28305

Phone:  910-323-6112
Fax: 910-323-6114

Director: Dee Taylor