Community Advantage

Loans up to $350,000 for a variety of business purposes, supporting significant growth and capital needs.

Small business loans with competitive interest rates from 11% to 14% to support your growth.

Our Products

About Community Advantage

Carolina Community Impact offers business loans up to $350,000, support your growth needs—from expansion to new equipment. Designed to meet SBA Community Advantage criteria, they are accessible to underserved markets, including minority, veteran, and women-owned businesses.

What We Offer

We provide business loans of up to $350,000 to help you achieve your business goals. Our loan offerings are designed to cater to a wide range of needs, ensuring that your business has the financial support necessary for sustainable growth. Whether you need funds for expansion, purchasing new equipment, or addressing other significant capital requirements, our loans are structured to provide the flexibility and resources you need.

Our loan program is particularly tailored to meet the unique needs of underserved markets, including minority, veteran, and women-owned businesses. By focusing on these groups, we aim to foster inclusivity and equal opportunities within the business community. We understand the challenges faced by these businesses and are committed to providing accessible and supportive financial solutions.

In addition to financial support, we offer personalized assistance to help you navigate the loan process. Our team of experienced professionals is dedicated to understanding your specific needs and providing guidance to ensure you make the most of the financial resources available. From initial application to loan disbursement, we are here to support you every step of the way.

Our loans are not just about providing funds; they are about empowering businesses to thrive and contribute to their communities. We believe that by supporting the growth and expansion of underserved businesses, we can drive economic development and create job opportunities in diverse communities.

Qualifications

Who Can Apply?

Small businesses that meet SBA Community Advantage (CA) criteria, including those in underserved markets or owned by minorities, veterans, or women.

To qualify for our loans, your business must meet certain criteria that ensure both the viability of your business and its positive impact on the community. Our goal is to support a diverse range of businesses, particularly those that face greater challenges in accessing traditional financing options.

Here are the detailed requirements for eligibility:

Small Business Eligibility

Businesses must meet SBA Community Advantage (CA) criteria, ensuring support for diverse and underserved markets.

Underserved Market Focus

Eligible businesses include those located in underserved markets, fostering community growth and economic development.

Minority-Owned Businesses

Loans are available to businesses owned by minorities, supporting inclusive entrepreneurship and diverse business landscapes.

Veteran or Woman-Owned Businesses

Special loan options for businesses owned by veterans and women, promoting inclusivity and empowering these entrepreneurs to succeed.

Requirements

Use of Funds / Terms

Our loans can be used for a variety of business purposes, providing the flexibility to meet your unique business needs. Whether you are looking to enhance your daily operations, invest in new technology, or expand your physical presence, our loan options are designed to support your business’s growth and success.

With terms that cater to both working capital and long-term investments, Carolina Community Impact is committed to helping you achieve your business objectives and reach new heights of success.

Up to 10 Year Term

Flexible terms up to 10 years, designed to support your daily operations and ensure smooth cash flow management.

Fixed Asset Loans:

Extended terms up to 25 years, ideal for long-term investments in property, equipment, and other fixed assets.

Interest Rate

Competitive interest rates at prime rate plus a maximum of 6%, ensuring affordability and predictability.

Collateral May be Required

Collateral is generally required to secure the loan, providing additional assurance and flexibility for your business.

Start Application

Ready to take the next step towards financial success? Carolina Community Impact is here to assist you every step of the way. Our streamlined application process is designed to be straightforward and user-friendly, ensuring you can focus on what matters most – your goals.

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FAQ

At Carolina Community Impact, we understand that navigating the world of business financing can be complex. To help you make informed decisions, we’ve compiled a list of frequently asked questions.

What documents are needed for a business loan application?

You will need personal and business federal income tax returns, a personal financial statement, organizational papers for LLCs or corporations, a business plan and financial projections for startups, and valid identification for all owners/guarantors.

What are the 5 C’s of Credit considered in the loan evaluation process?

The 5 C’s are Character, Capacity, Capital, Conditions, and Collateral.

How can I prepare my small business loan request?

Organize necessary documents such as tax returns, financial statements, business plans, and identification. Know your credit report and be ready to explain any discrepancies.

What is considered collateral for a business loan?

Collateral can include business assets, real estate, personal assets like vehicles or land, or high-cost equipment that is fully paid for.

What additional costs should I expect with a business loan?

Be aware of closing costs and fees. Inquire if these costs can be rolled into the loan or must be paid out-of-pocket.

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Building Stronger Communities

Real Stories of Impact

Our success is best told through the stories of the businesses we’ve helped. Read testimonials and spotlights on clients who have benefitted from our programs and services, and see the tangible impact of our work in their lives.