Who Is Eligible?
The basic requirements for Thread Capital are:
- You must be 18 years of age
- Your business must be based in N.C.
- Your business should not be involved in adult entertainment, multi-level marketing, real estate speculation, lending, or gambling
- You should have no unsettled public judgment, bankruptcy, delinquent taxes, and delinquent student loans unless they are on an active payment plan
- Anyone who owns more than 20 percent of the business must sign on the loan
- Business must be for-profit
What Activities are Eligible?
The loan funds can be used to start a new business or expand an existing business. Typical uses of proceeds include working capital, inventory, equipment, and leasehold improvements. Loan funds cannot be used to pay off personal debt or credit card debt, for personal expenses, or for real-estate speculation. The loan also cannot be used to pay-off delinquent federal, state, or local taxes.
How much: Thread Capital provides loans up to $50,000. Additionally, Thread Capital has a network of resources for small business borrowers seeking as little as $500 and as much as $5 million.
Contact: Email firstname.lastname@example.org or call 919-212-4950 for more information.