BEFCOR is pleased to participate in the Golden LEAF Loan Program. Initially capitalized by a generous grant from the Golden LEAF Foundation, this program, called BEFCOR Small Business Loan Fund (SBLF), assists businesses in eastern North Carolina that have been adversely impacted by the decline in tobacco production industries.
SBLF loans are available in areas that show potential for strengthening North Carolina’s long-term economy, especially rural communities that have been tobacco-dependent or that are economically distressed. Priority for lending is placed on defense industry-related businesses but consideration is also extended to small businesses engaged in manufacturing, light manufacturing, assembly, logistics and warehousing, engineering, software development and food processing.
The BEFCOR Small Business Loan Fund can loan up to $150,000 per borrower in either a first or second lien position. BEFCOR can often work with other lenders to provide the flexibility in repayment terms that is often needed by young and growing businesses.