STEP for Small Business in Lansing Accepting Applications

Staff Report

LANSING– Lansing small business entrepreneurs can now apply for loans through the STEP (Small Town Economic Prosperity) for Small Business program. The STEP for Small Business Community Loan Fund works with individuals from Lansing who have sound ideas for starting or expanding a small business but may have difficulty obtaining a loan from traditional sources.

Details about the fund include:

· 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.

· The loan fund does not compete with banks or other lenders; 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 zip code;

· applicant is 18 years or older; and

· applicant has a sound business idea.

To learn more about the application and loan process or to apply, contact Marcy Little, Lansing town clerk, at 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.

Staff Report

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