Black Chamber of Commerce can assist small business owners

The Beaufort County Black Chamber of Commerce is now providing financial help to small-business owners by lending from $5,000 to $50,000 to micro-enterprises. Small-business owners can get financial help through the Black Chamber of Commerce as a micro-lender. The loans can be for start-ups, expansions or material costs. The chamber can only fund 75% of a given project and 25% must come from a non-federal source.
To be eligible for this program, you must meet the following criteria:
• Must have income at or below 80% of the area median family income.
• Must be current clients or graduates of an approved microenterprise or business training program.  Graduates must have completed a business training course.
• Must be the business owner and have collateral in the business.
• Start-ups and existing businesses must provide an approved business plan.
• Businesses must submit a balance sheet and income statement from the previous two years of operation.
• Must be in Beaufort County. Businesses in the non-incorporated areas will be given priority.
• Must have five or fewer employees.
For more information, call 843-986-1102.

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