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Finding Funding for Your Business
Obtaining capital can be a difficult and a time consuming part of every business start-up. The Small Business Center, Technology Commercialization Center and Business Incubation staffs work with business owners to increase their chances of funding success. Business owners can receive assistance in:
- assessing their capital needs
- creating a funding plan that includes different sources of capital
- understanding the importance of timing in the capital raising process
With a funding plan in place, we then assist the client in the execution of their funding strategy by reviewing grant proposals, helping to prepare executive summaries and funding presentations and looking for opportunities to introduce clients to people involved in the capital markets. Although the Small Business Center and Business Incubation program does not administer loans, grants, or investment capital; we try to make sure our clients are in a position to secure capital with a fundable business model.
For a list and description of available sources of capital for North Carolina businesses:
- Fueling your Business in North Carolina is a good starting point. It has a great overview of financing and will definitely open your mind for different options.
- Capital Opportunities for Small Businesses - get a free guide listing sources for funding for your business needs.
- Blue Ridge Angel Investor Network (BRAIN) - a resource for connecting capital with WNC growth companies.
- Blue Ridge Entrepreneurial Council - provides support and promotes entrepreneurship across Western North Carolina through the following focus areas: mentoring and networking, communications, capital formation, and connections to critical resources.
- Ibiliti - provides facilitation in the process of getting novel medical ideas to patients.
- Innovation Fund North Carolina - a statewide initiative led by Catawba Valley Community College as a Kauffman Foundation and Innovation Fund America pilot project in order to provide technology start-ups in North Carolina with the resources necessary to become thriving businesses. Innovation Fund North Carolina seeks to improve the odds of promising technologies turning into great companies that are led by extraordinary entrepreneurs. North Carolina startups in Agricultural Technology, Advanced Manufacturing Technology, Healthcare Technology or IT/Communications can apply for either a $25,000 Proof-of-Concept grant or an Early Launch Loan (non-collateral) up to $100,000.
- Mountain BizWorks - Offers small business loans range from $1,000 to $150,000 and are designed for businesses who may have trouble securing funding from banks and other traditional sources.
- Self-Help Credit Union - assists borrowers nationwide to build wealth by providing fair and responsible loans to businesses, consumers and prospective homebuyers.
- Small Business Administration Lending Resources - find a listing of all the lending programs available through the SBA.