Carolina Small Business Development Fund — Small Business Loans
Carolina Small Business Development Fund (CSBDF)
Up to $350,000
Researched for this program: 5 rejection traps · 6 required documentsWhat decides this award ↓
North Carolina statewide CDFI lender
Carolina Small Business Development Fund is a statewide 501(c)(3) nonprofit Community Development Financial Institution (CDFI) and SBA microlender serving all 100 counties of North Carolina. Its core loan product provides up to $350,000 across a wide range of industries with flexible terms, for both start-ups and existing businesses, with a focus on entrepreneurs who have difficulty accessing traditional bank financing. CSBDF also offers Rural Microentrepreneur Assistance Program (RMAP) loans up to $50,000 at a 7% interest rate for businesses in USDA-designated rural areas, and a Mecklenburg County 'Meck Lending' product up to $75,000. The loan process begins with a business consultation so CSBDF can recommend the best fit.
- Funding type
- Loan
- Level
- Private
- Amount range
- $1,000 – $350,000
- Realistic amount
- Most CSBDF borrowers take a loan well under the $350,000 ceiling — commonly microloans (RMAP up to $50,000) or small term loans in the five-to-low-six-figure range sized to the business's needs and repayment ability.
- Deadline
- Rolling
- Status
- active
- States
- North Carolina
- Payment model
- loan
Who qualifies
- Business located in North Carolina (statewide, all 100 counties)
- For-profit small business (start-ups and existing businesses both eligible)
- All industries except 'sin' businesses
- RMAP microloans require a USDA-designated rural area
- Meck Lending product requires a Mecklenburg County business
- Entrepreneurs who have difficulty accessing traditional bank financing are the focus
What it covers
Eligible expenses
- Working capital
- Inventory and supplies
- Equipment and machinery
- Start-up costs
- Business expansion and improvements
Ineligible expenses
- 'Sin' businesses (excluded)
- Personal, non-business expenses
How to apply
-
1
Request a business consultation
Start with a consultation so CSBDF can assess your needs and recommend the best loan product (core loan, RMAP rural microloan, or Meck Lending).
~2 hrs
-
2
Assemble financials and apply
Provide business and personal financials, tax returns, and a use-of-funds plan (plus a business plan/projections for startups). Submit the application for the recommended product.
~6 hrs
-
3
Underwriting and decision
CSBDF underwrites the loan based on repayment ability and the business plan, with mission focus on borrowers underserved by traditional lenders.
~3 hrs
-
4
Close and fund
Execute loan documents and receive disbursement for your stated business use.
~2 hrs
Lead with the free business consultation — CSBDF uses it to steer you to the cheapest product you qualify for, and a rural business can land an RMAP microloan at a flat 7%. Because RMAP funds are 'while supplies last,' rural applicants should apply early in the funding cycle rather than waiting.
Deadline & timing
Applications accepted on a rolling basis; the process begins with a business consultation. RMAP microloans are described as available 'while supplies last,' so rural microloan funding can be limited.
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