- (828) 874-6731
- vedicnc.com
- Hours By Appointment
LOAN INFORMATION
Learn more about loans available through VEDIC
Funds Provided by USDA Rural Development(IRP, RMAP), ARC, Golden Leaf(BBLP),
NC Rural Center(VRLP)
VEDIC's IRP Regional Loan Program
The Basics
The USDA-Rural Development Loans are for businesses located in North Carolina with emphasis in the following counties: Alexander, Burke, Caldwell, Catawba, Cleveland, McDowell and Rutherford county. This program provides funding for the acquisition, construction, conversion, enlargement, or repair of a business or business facility, start-up cost, working capital, purchasing of equipment, supplies and real estate.
The Requirements
- Must be a community development project
- Job creation or retention
- Must have been turned down by a banking institution
- Money must be lent in areas where the population is less than 50,000
Terms & Conditions
- Limited to 75% of project cost
- Loan term is based upon the amount of the loan and the subject collateral
Loan Categories
Effective 09/01/2024
Pre-Applications currently being considered for up to $250,000.
Jumbo Loans – Please call our office for availability 828-874- 6731
VEDIC's Micro-Entrepreneur Assistance Loan Program
The Basics
The USDA-Micro-Entrepreneur Assistance Program is for businesses located in North Carolina with emphasis in the following counties: Alexander, Burke, Caldwell, Catawba, Cleveland, McDowell and Rutherford county. This program provides funding for businesses in need of working capital, debt refinancing, purchasing of equipment, supplies and real estate.
The Requirements
- Must be a community development project
- Job creation or retention
- Must have been turned down by a banking institution
- Money must be lent in areas where the population is less than 50,000
Terms & Conditions
- Limited to 75% of project cost
- Loan term is based upon the amount of the loan and the subject collateral
- Maximum loan amount up to $50,000
VEDIC's Burke Business Loan Program
The Basics
Provides a flexible source of capital to businesses looking for assistance with – acquisition of land, buildings and fixed equipment; construction of buildings; rehabilitation of buildings; and working capital among other items.
The Requirements
- Businesses must be located in Burke County
- Applicants must provide matching commitment
- Job creation or retention
Terms & Conditions
- Loan term is based upon the amount of the loan and the subject collateral
- Loans usually do not exceed $25,000
VEDIC's Valdese Revolving Loan Program
The Basics
Organized by the Town of Valdese, this program is designed to assist commercial, service and industrial businesses in Valdese to strengthen the Valdese business sector. Provides funding assistance with start-up cost, working capital, purchasing of equipment, supplies and real estate.
The Requirements
- Business must be located in the Town of Valdese
- Applicants must provide matching commitment
- Job creation or retention
Terms & Conditions
- Loan term is based upon the amount of the loan and the subject collateral
- Loans usually do not exceed $25,000
How To Get Started
If you are interested in applying for a VEDIC loan, please fill out our Pre-Application listed below. You may submit the completed form by mail to: VEDIC, PO Box 1225 Valdese, NC 28690 or email to: admin@vedicnc.com. Once we receive the completed Pre-Application, we will contact you to schedule an appointment to discuss your business needs. During this process we will work with you to determine which loan program best suits your request and answer any questions that you may have. We appreciate your interest in the VEDIC program and look forward to the opportunity of working with you. VEDIC is an Equal Opportunity Lender offering loans via: USDA Intermediary Re-Lending Program IRP, USDA Micro-Entrepreneur Assistance Program RMAP, Valdese Revolving Loan Program, Burke Business Loan Program. Please download/print the Pre-Application below and email to admin@vedicnc.com:
