LANSING-Town leaders have formed a partnership between the town and the N.C. Rural Economic Development Center to launch a $100,000 small business community loan fund. The goal of the partnership is to encourage small business and entrepreneurial growth in the Lansing area.
The STEP (Small Town Economic Prosperity) for Small Business local committee in Lansing began its work in the fall of 2015.
“Helping small businesses start, grow and thrive in Lansing will allow this area to be viewed as a vibrant community in which to live, work, play and relax. We are extremely excited about the opportunity that the North Carolina Rural Center is providing for this community,” says Jim Parsons, local business leader and STEP for Small Business Lansing committee member. “This loan program will allow us to promote self-employment, small business creation and economic independence. This type of economic development will help new businesses and existing business grow and flourish, which will ultimately draw more people to experience the charmingly rustic town of Lansing. Lansing has incredible landscapes and scenery with many outdoor recreation opportunities,” continued Parsons.
The STEP for Small Business initiative focuses on three essential elements for success:
- Demographically renewing the community. The loss of innovative talent affects the economic future of a community as well as its civic and social leadership.
- Increasing business opportunities by fostering entrepreneurship and small business development; and
- Improving the quality of life and place-making of the area because talented people gravitate to great places to live.
The following are a few details about the fund:
- Loan amounts range from $500 to $25,000 for small business startup or expansion.
- All loans are offered in combination with business planning and technical assistance.
- Loans will be reviewed by a local committee and serviced by the Rural Center.
- Loan funds may be used to purchase equipment, inventory or as working capital. Lansing and NCRC offers the STEP for Small Business loans for economic development
- The loan fund does not compete with banks or other lenders, but rather, it is designed to serve as gap funding or complementary financing for small businesses.
Basic requirements are:
- applicants must wish to start or expand a small business;
- the business is located in the 28643 area code;
- applicant is 18 years or older; and
- applicant has a sound business idea.
To learn more about the application and loan process, contact Marcy Little, Lansing Town Clerk, at firstname.lastname@example.org or 336-384-3938.
The Town of Lansing is one of eight towns in this initiative selected largely because of its success in the N.C. STEP program, a Rural Center program involving 67 towns across North Carolina between 2006 and 2015.
The Rural Center is a private, 501(c)(3) nonprofit dedicated to develop, promote and implement sound economic strategies to improve the quality of life of rural North Carolinians.