About this programme
The IGNITE Loan Program is run by Carolina Small Business Development Fund (CSBDF), a community development financial institution making fully amortizing loans up to $75,000 to North Carolina small businesses, with terms up to 84 months.
How it works
Loans go up to $75,000 with terms up to 84 months, fully amortizing.
Interest rates are competitive and based on the Prime Rate, set case by case.
Veteran-owned businesses get a 1% interest rate discount.
Costs include a 3% origination fee and a $150 loan processing fee, both of which may be paid out of loan proceeds.
Who can apply
Business must be located in North Carolina and have been operating for at least two years.
No more than six non-sufficient-funds (NSF) occurrences in the past two years.
Must have proof of general liability and business personal property insurance.
No unsatisfied judgments, liens or unresolved legal cases; no repossession or foreclosure within the last three years; no bankruptcy in the past 5 years.
Charge-offs and collections must be under $1,000 (medical debt excluded), with no more than five instances of being 30 days delinquent within the last 24 months.
At least 25% of total revolving credit limit must be available.
How to apply
- Complete a counseling request with CSBDF.
- Gather the required documents with your assigned Business Solutions Officer.
- Submit the formal loan application.
Documents you’ll typically need
- Credit forms
- Six months of business and personal bank statements
- Recent tax returns
- Business debt schedule
- Proof of general liability and business personal property insurance
Frequently asked
How much can I borrow and for how long?
Up to $75,000, on fully amortizing terms of up to 84 months.
Is there a discount for veterans?
Yes, veteran-owned businesses get a 1% interest rate discount.
What fees are involved?
A 3% origination fee and a $150 loan processing fee, both of which can be paid from the loan proceeds.
What credit history do I need?
No unsatisfied judgments, liens or unresolved legal cases, no repossession or foreclosure in the last three years, no bankruptcy in the past 5 years, charge-offs and collections under $1,000 (medical excluded), and at least 25% of your revolving credit available.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.