About Us

Business Expansion Funding Corporation, BEFCOR, has been a non-profit economic development lender in North Carolina since 1982. By providing loans to small businesses, we help emerging and expanding companies grow and create jobs.

Originally founded by the city of Charlotte, the organization is now statewide in North Carolina, with lending capabilities in specified upstate South Carolina counties. We currently have offices with experienced staff in Charlotte, Raleigh and New Bern.

Licensed by the U.S. Small Business Administration, BEFCOR is a Certified Development Company authorized to provide SBA 504 loans. SBA 504 loans offer long-term, fixed-rate financing to businesses, enabling them to own their commercial real estate rather than leasing it. The program also offers financing for other fixed assets, such as machinery and equipment. Refinancing of land, building and equipment is also available.

Another loan program available from BEFCOR is the Golden LEAF Loan Program. Initially capitalized by a generous grant from the Golden LEAF Foundation, this program assists businesses in eastern North Carolina that have been adversely impacted by the decline in tobacco production industries.

For new loan applicants, we review full loan applications, conduct thorough credit and financial analyses and submit to our Loan Committee, Board of Directors and SBA, as appropriate. Our loan officers and processing staff work with small business owners throughout the process, responding to questions and providing updates on next steps.

Once approved, our loan closing staff works with our business borrowers to ensure the legal documents for the loan are signed. After the loan is made, our servicing staff works with borrowers throughout the loan term. We bring a team approach to small business lending, and we offer guidance whenever needed.

BEFCOR is a mission-driven lender whose focus is assisting small businesses. We help companies evaluate financing solutions so they can grow and create new jobs.