Borrow up to $25,000 Borrower Eligibility Primary place of business is in Alamance County, NC Business or organization that had 25 or fewer full-time equivalent employees (FTE) as of March 1, 2020. In business continuously since April 1, 2019. No unsatisfied judgments, tax liens or bankruptcy proceedings within the past year. Credit reports will be reviewed. If borrower has no credit score, or a credit score under 550, then borrower credit history will be reviewed on a case by case basis. Loan Terms Loan amount will be based on: Payment that could have been afforded pre-COVID-19. No more than 6 months of pre-March 1, 2020 expenses (2019). Repayment duration up to 6.5 years depending on the loan amount. No payments due for the first 6 months, if payment deferral is needed. 4% fixed interest rate. $10 fee payable at closing ($5 will go into a savings account for the borrower). No fee if loan not approved. Minority and women-owned business enterprise (MWBE) owners are strongly encouraged to apply. Borrowers who have received loans through the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) or EIDL are eligible, but only if Community Recovery Loan funds will be used for different purposes or time periods than the SBA loans. Key Steps in the Loan Application Process: Click on the APPLY NOW button to access the loan application. You may contact the Small Business Center at Alamance Community College for help with completing the application (see contact information below). Submit the application to Self-Help CU. You may contact Scott Schomburg in the Greensboro branch for details (see contact information below). APPLY NOW APLICA AHORA Scott Schomburg City Executive Self-Help CU - Greensboro (336) 545-9916 Scott.Schomburg@self-help.org Ervin L. Allen, Jr. Director, Small Business Center at Alamance Community College (336) 578-2002 (336) 506-4312 Ervin.Allen@alamancecc.edu alamancecc.edu Program Partners The Alamance Community Foundation, Alamance County Government, and the Economic Development Foundation of the Alamance Chamber have partnered to provide a small business loan program to assist for-profit and nonprofit businesses in Alamance County. This program provides low-interest, flexible loans to small businesses in the community. With each borrower repayment, the payments are deposited back into the revolving loan fund to make future loans available to Alamance County small businesses. The Small Business Center at Alamance Community College helps business owners develop and grow critical business skills that are vital for growth and sustainability. The Center is staffed and structured to train, educate, develop and support nonprofits, small businesses and entrepreneurship across Alamance County, and is a key partner in this community recovery program.