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Rival Gaza protest groups clash at UCLA; IL farmers on costly hold amid legislative foot-dragging; classes help NY psychologists understand disabled people's mental health; NH businesses, educators: anti-LGBTQ bills hurting kids, economy.

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Ukraine receives much-needed U.S. aid, though it's just getting started. Protesting college students are up in arms about pro-Israel stances. And, end-of-life care advocates stand up for minors' gender-affirming care in Montana.

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More rural working-age people are dying young compared to their urban counterparts, the internet was a lifesaver for rural students during the pandemic but the connection has been broken for many, and conservationists believe a new rule governing public lands will protect them for future generations.

Report: NC Small Businesses Depend on Community Lenders More Than Ever

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Monday, December 17, 2012   

OAKBORO, N.C. - In today's economy, it's not easy for a small-business owner such as Tim Liescheidt to get a loan to build his business outside Charlotte. Traditional lenders say they can't take the risk and the Small Business Administration told him his start-up steel business was too small. That's when Liescheidt applied for and received a $50,000 loan that enabled him to finance projects.

He now has $3 million worth of business orders to fill, thanks to that loan from The Support Center.

"It becomes a house of cards at that point. It just flows, because then we made a little money on that job and were able to take that money and finance a little bit bigger job, and take that money and finance a little bit bigger job."

A report released today by The Support Center, a community development financial institution in Raleigh, found that lenders like them have helped start 33,000 businesses in the state, creating 3100 jobs. CDFIs have existed for 18 years, providing loans to small businesses unable to secure loans through traditional sources.

In 2011, according to today's report, the 999 CDFIs nationwide made 16,000 loans and investments, totaling $1.2 billion. That created 25,000 jobs. It's a boost that Lenwood Long, president and CEO of The Support Center, believes the state couldn't live without.

"We see ourselves as a vital player in the economic recovery of this state, because there's no question that over 70 percent of small businesses drive the economy."

CDFIs are made possible through public and private investments. Long believes the state should consider additional investment in institutions such as this to further spur economic growth and recovery in the state.

The full report is at The Support Center.




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