Agenda - 08-04-1997 - 9c - Laserfiche WebLink

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CAPITAL OPPORTUNITIES FOR SMALL BUSINESSES 6 STATE PROGRAMS _.TROGRAM NAME.,,,._'';! A/l icmal1TE.v,,. , !-::`DBCRIpn1ON .. :DISC AMMEIM RESTRICTIONS NC Dept.of Caahsrat-Carermm Fiurtce Caper 919/7335297 -?v Frog a^applies want SS,000 per nonrtanufamurtng job Loan is negotiated under a participation .FstpessieDarelapedait - be local gmernment unit Loan an be used far eastruaion, created. $15,000 per mfg.job created agreement with bard" individual firm. PD�IG,s,;z;, in conjunction with bank renovation,laud acquisition or She purchase SOX of 1996 Economic Uevelaprnmeu and local government applicant Bank •' s.;.. -.„r of new pugrnenl funds woe sot aside for small business runt provide at leap 50%of loan .�.' and small business. ,,,;, .-,,;,,...n.,.•+. loan protects. capita, .s•. """`° COBG funds are made Lawn funds exist only in some counties. available to local Local governments set up fords using Ip�Fteti govemmnents who set up technical assistance from organizations $100,000 to local government applicant Funds roust predominantly benefit low CDfG for its micro enterprise program. to moderate income persons. In NC 98 microeuoprise lean experienced in macro-enterprise lending. counties are eligible. i funds'. ig itsainrt' • e, Commercial business Loans are for capital related energy $100,000 to$500,000 per loan for up to T improvements such u energy saving motors, 7 years at rate not higher than 5%.Funds Requires letter of credit from a '.. Pregame�". located oc moving to NC. biller improvements and low I' i are hied from a participating bank. m provemen energy igFn ng• provi part of$2.5 million. .- - Laing-tend,low interest financing.Law rates Maximum tax exempt bond amount is Available only to firms paying 10% Manutactving companies available on low serest issues because the $10 million per jaise iction over a six year over the average county wage. Funds Imisslral Rovrdrss nand faacquiring fixed pants. bads are sub' period.1996 state volume cap was$337 must be used for capital expenditures. legit to federal income tax. m million.Taxable issues are not subject to New firs must put up 25%of the Usually 8 to 10 yr.maturity. this limit bud amount • - Campantes with over 5 Tax credit for businesses creating jobs in 5500 to 512,000 per job created A max. The new jobs must pay 10%above the lobCreeliarlJan Credt em of S0%of total tax liability can be offset average weekly manufacturing wage of ploy— eligible industries. over a four year penod. the county Must be used for manufacturing liviis so-W Du"elopMp hind Local Government Fads available for ra creation of $4,000 per job,up to a maximum of proles in a county designated as ....:. .. ....: .. Applicants nunuauturing and P« ^8 lobs• 5400,Ot30, economically distressed NC Dem.of Camoo ee-Division of Cimmounit f Assistance 919/733.2113 Isemeeliwee Eceeoreie Unit of local government Each year program focus changes. Devdepsatt Dopoa�ation in partnership with private Assistance for local projects targeting a Up to$350,000 per award Taal of$1 1996 focus is on projects that aid W companies. specific state need. million available in 1996. people emerging from welfare or substance abuse programs. NC DeFYL of Commerce-International Tri tle Division 919/7337193 i Exporters can increase their profit margins by Generally 15%of eigwrt profits are ran FSC becomes cost effective when exempt.Maximum tax savings can be as excluding a potion of Heir foreign sales export sales reach 5500,000.Must Foeeryd.Salm Corp. Exposers intone from federal and state taxable high as 30%.Less than S%of U.S. have m Mast one director who is not a intone.Formation cost starts at$2.000. exporting companies take advantage of US reswent. FSC option. Y NC DepL of Commerce-Business and Industry Division 919/73341 S1 - - Businesses locating or Marry can be used for equipment.structural Average award is about$250,000.$10.5 IrndealrW RaapiYuswt expanding in NC deer repairs,renovating buildings,and million off 12 million fund committed Only a selected group of small CatpMbve Fuld- to be vital to a healthy construction of or improvements to new or between Dec.93-hrn.95. businesses and industries. Mate economy. existing water,sewn,gas or electric. Nertln Cardin asst ' Itnrre 919/7312113 ",.. .,. Low interest loans offered on a participating Assets are currently used ably for farm NmW Carolina AWW " basis with the Real Ecoromit and Rural families N/A purchase and improvement loans and Rural Agency and the loans to small food Agricultural Finance Authority operations in rural areas.' � t i i 1 i� 1 i i 88