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CU System
N.C. governor launches small biz lending initiative
GREENSBORO, N.C. (10/4/10)--North Carolina Gov. Beverly Perdue has launched the Capital Access Network initiative to increase government guaranteed lending to small businesses statewide. The state’s commissioner for small business and the commissioner of banks are working together on the initiative and have introduced a statewide network of 65 business advisers who are available to assist credit union and bank clients with financing issues (North Carolina Credit Union League’s Weekly Update Sept. 28). Credit union employees may refer any small or mid-sized business owner to a local business adviser through the Department of Commerce’s Business Link North Carolina (BLNC). The BLNC staff will conduct an initial interview, provide some guidance on the documentation the business owner will need to support a loan application, and refer them to a local business adviser. The adviser will then work face-to-face with the business owner to improve the loan application and understanding of eligibility requirements for all types of debt financing, including debt guaranteed by the Small Business Administration and U.S. Department of Agriculture. If a credit union refers a member business owner to one of the business advisers for assistance in preparing a loan package, the advisers have agreed to return that client to the credit union for loan submission. The counseling services are confidential and free. The business advisers are members of the Small Business and Technology Development Center, the Small Business Center Network and SCORE, a nonprofit association dedicated to educating entrepreneurs and helping small business.


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