Small Business Lending | Loans for Small Business

Visit our COVID-19 Rapid Recovery Financing Options page for funding resources related to the coronavirus crisis.

For 27 years, Mountain BizWorks has been providing small business loans to help businesses in Western North Carolina launch and expand. Our loans range from $1,000 to $250,000, and we focus on entrepreneurs who have trouble securing funding from banks and other traditional sources.

We emphasize cash flow analysis, consider non-traditional collateral, and offer flexibility in the loan structure. We also work to ensure our clients' success by offering highly customized, peer-to-peer business coaching by an extensive network of local, successful business owners. This innovative blend of lending and learning helps entrepreneurs overcome obstacles, grow strategically, and create jobs.

All loan decisions and relationships are managed locally.

En Español: También tenemos personal que hablan español para ayudar a nuestros clientes latinos. Para hablar con alguien acerca de nuestros servicios en español, por favor llame al 828-253-2834.

Over half of our staff is fluent in Spanish. To speak with someone about our Spanish-language services, please call 828-253-2834.)

View our Recent Loans page to see some examples of businesses that have received small business loans from Mountain BizWorks.

How is Mountain BizWorks different from banks and other funding sources?

For 27 years, Mountain BizWorks has been making business loans ranging from $1,000 to $250,000 to small businesses in Western North Carolina who may have trouble securing funding from banks and other traditional sources. We consider non-traditional collateral, offer flexibility in the loan structure, and loan decisions and relationships are managed locally. We also work to ensure our clients' success by offering highly customized, peer-to-peer business coaching by an extensive network of local, successful business owners. This innovative blend of lending and learning helps entrepreneurs overcome obstacles, grow strategically, and create jobs.

Does Mountain BizWorks provide grants?

No - the only source of business funding Mountain BizWorks provides is loans.

How much can I borrow and for how long?

Mountain BizWorks will make loans for as little as $1,000 and as much as $250,000. Repayment terms are flexible and based on cash flow and use of funds.

What is your interest rate?

Our interest rates vary depending upon your particular situation and risk factors. You should expect that your Mountain BizWorks lender will discuss interest rate and loan terms with you.

Is my credit history important?

Credit history is one of the most important factors in making our decision to provide a loan. Credit history is the clearest indication we have of your willingness and ability to repay loans. However, we are willing to take into consideration extraordinary circumstances that may have damaged a previously good credit history.

Do I need collateral?

Yes, we will ask you to pledge your business assets to secure a loan. Offering assets such as your automobile, home, or other real estate makes us feel that you are as confident in your business as you would like us to be. Typically, we like to have spouses guarantee the debt to show there is family support of the business.

Do I need a business plan?

A business plan is necessary for start-ups and can be very useful for existing businesses, especially when major changes are planned. A business plan does not have to be lengthy, but should outline your goals and business direction. Our application packet includes lists of questions to be answered during the application process. It is important for us to be clear on the history of the business and where you see it going; how the business operates and brings in customers; and how the use of the loan funds will fit in with the other financial aspects of the business.

How long does the approval process take?

Once we have a fully completed application packet, Mountain BizWorks aims to have an answer to you within 2-3 weeks.

If my loan request is approved, when can I expect to receive funding?

Mountain BizWorks can typically close a loan immediately upon notifying the loan applicant of the approval based upon all approval conditions being met.