Local microlender and business-consulting nonprofit Mountain BizWorks has received $750,000 in microloan financing from the U.S. Small Business Administration.
“I’m really grateful for the investment from the SBA,” commented Mountain BizWorks CEO Greg Walker-Wilson, “because it will allow us to make a minimum of 30 loans to small businesses that would not qualify for traditional bank financing.”
Under the SBA microloan program, Mountain BizWorks will consider small business loan applications in amounts up to $35,000 for very small businesses, or microenterprises, of five employees or less. Mountain BizWorks has provided microloans from federal, state and other sources to small businesses for nearly 18 years.
“The SBA is pleased once again to be of assistance to Mountain BizWorks,” said Lee Cornelison, District Director for the SBA office in Charlotte. For the last five years, the SBA has provided funding to Mountain BizWorks under its PRIME program to enable Mountain BizWorks to counsel low-income entrepreneurs. For nearly three years, Mountain BizWorks has operated the SBA Women’s Business Center, also made possible with SBA funding, to provide counseling and training to women entrepreneurs.
Persons interested in applying for the microloans should contact Mountain BizWorks in Asheville at 253-2834, ext. 16, or visit the organization’s Web site at www.mountainbizworks.org.
— Hal L. Millard, staff writer