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Chatham loan fund launched

Posted Tuesday, November 25, 2008

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Pittsboro, NC – The Chatham County Economic Development Corporation (CCEDC) and The Center for Community Self-Help are pleased to announce the establishment of the Chatham Loan Fund to help finance loans to entrepreneurs in Chatham County. The revolving loan fund is capitalized, in part, by Chatham County government.

Anyone starting or operating a business, for-profit or not-for-profit, is eligible to apply, with focus on minority- and women-owned businesses, youth entrepreneurs (ages 15-35), and CCEDC-identified business sector clusters.

“We’re excited to partner with Self-Help to provide much needed capital to local businesses,” said Dianne Reid, CCEDC President, “particularly in this era of tight credit.” She notes that support for entrepreneurship is a major component of the county’s new economic development strategic plan.

“While we have made some commercial loans in Chatham County in the past, the Chatham Loan Fund will enable Self-Help to become much more involved with local businesses,” said Roberta Boyd-Norfleet, Regional Director, Self-Help Central NC Branch. “We look forward to establishing lending relationships with numerous Chatham companies.”

Interested borrowers can contact the CCEDC at 542-8274 or email info@chathamedc.org for more information. A loan application is available online at www.self-help.org.

The nonprofit Center for Community Self-Help and its financing affiliates, Self-Help Credit Union and Self-Help Ventures Fund, provide financing, technical support and advocacy for those left out of the economic mainstream. Since its founding in 1980, Self-Help has reached out to female, rural, and borrowers of color across North Carolina, in Washington, D.C., California, and many other states.

Building on the County’s strategic location between the Piedmont Triad and the Research Triangle, the Chatham County Economic Development Corporation is working to position Chatham as the preferred location for emerging growth companies. CCEDC provides services and support to entrepreneurs and existing businesses within the County, and employs targeted attraction efforts to encourage companies to locate here.

 
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