Thursday, 17 February 2011
Business owners in Cherokee, Clay, Graham, Haywood, Jackson, Macon and Swain counties have a new loan product option. The New Economy Fund – the latest offering from The Sequoyah Fund – provides loans of $50,000 - $250,000 for green, knowledge- based or creative economy businesses located in the seven farwestern counties of North Carolina. Loans are available for start-ups or ongoing businesses.
The Sequoyah Fund is no ordinary commercial lender. As a nonprofit, independent Community Development Financial Institution (CDFI), Sequoyah Fund focuses on assisting individuals who are good candidates to open businesses and pay back loans, but are not having their needs met with traditional bank loan products. The Fund can also partner with banks in offering loan products, especially larger loans. In addition to lending,