Agribusiness Loans

I. Objective

To assist agribusinesses in obtaining capital to start up, increase or make changes to their business.

Agribusiness loans are designed to provide capital to acquire and build facilities.

II. Who May Receive Loans

North Carolina Agribusinesses licensed by the Secretary of State or Proprietor living in North Carolina.

Active agricultural businesses that are in the manufacturing, processing, or retail wholesale servicing the agricultural community or are processing agricultural commodities for sale in general commerce.

III. Eligibility Requirements

Must be an individual or business entity which is:

Located in North Carolina.
Lacks current financial strength to obtain sufficient capital to acquire or improve their business.

IV. Loan Rates and Terms

Maximum term will not normally exceed 15 years. Variable rate based on the Prime Rate published in the Wall Street Journal.

V. Loan Limits

Maximum Loan - Approximately $5 million; Minimum Loan - Normally $100,000.00.

VI. Application Fee

$500.00

VII. Origination Fee

An origination fee will be assessed for one percent of the loan amount.