Chatham County Loan Fund – Self-Help Ventures Fund
The Chatham Loan Fund is the result of a partnership between The CCEDC (Chatham County Economic Development Corporation) and The Center for Community Self-Help.
The revolving loan fund will be used to help finance loans to entrepreneurs in Chatham County, North Carolina.
Interest Rates: Loans will be priced at Self-Help’s premium rates for the type of credit being extended.
– Term of Loans: No restrictions – Size of Loans: No minimum or maximum; can be combined with other Self-Help funds.
– Special Fees: Standard Self-Help origination fees – Special Underwriting: Same as all Self-Help loans.
– Loans will generally be secured by all available collateral.
– Location Restrictions: Business must be based in Chatham County.
Eligible Borrowers Any individual or entity that starts or is operating a business, for-profit or not-for-profit, in Chatham County.
Applicants who are eligible for SBA guaranteed loans and similar programs are generally not eligible for the Chatham program unless the fees or other requirements of the SBA make the loan impractical or economically infeasible.
While loans may be made to anyone, particular focus will be on minority- and women-owned businesses, youth entrepreneurs (ages 18-35), and Chatham County Economic Development Corporation-identified business sector clusters (to be defined by CCEDC).