Rocky Mount sponsors a Microenterprise Revolving Loan Fund intended to help businesses open and expand in Town. Loan terms are flexible and help fill a gap left by traditional financing institutions.
Loans are eligible for up to $10,000 per job created that meets Full Time Equivalency (FTE). Applicant can count as one job. Each FTE job created, excluding the applicant, must be for someone who qualifies as low-to-moderate income.
Business must be located within the limits of the Town of Rocky Mount. If business relocates outside of Town, the loan is immediately due.
The Microenterprise Loan Board will be more flexible in considering applications than a normal bank. Special terms and conditions may apply.