Banks: Why partner with us?

We are not a lender of last resort. Instead our programs have been established to provide a capital resource to qualifying small businesses in our rural counties.

Bank participation along with our loan funds may allow projects to obtain favorable financing terms.

All of our loan decisions are made by the regional boards of East Carolina Development Company, Inc. and Piedmont Development Company, Inc. This local emphasis means prompt response time to loan requests and less "red tape" for borrowers and participating lenders. However USDA regulations do apply. Since we have a repayment obligation to the USDA, loans must be adequately secured.

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