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Grants awarded to rural county development organizations

This shows the breakdown of rural, urban, and regional city and suburban counties in North Carolina. Image courtesy of NC Rural Center.

This shows the breakdown of rural, urban, and regional city and suburban counties in North Carolina. Image courtesy of NC Rural Center.

The NC Rural Center is awarding over $3 million to organizations that provide loans to small businesses. 

The Raleigh-based organization is granting the money to six Community Development Financial Institutions, or CDFIs, to expand their ability to make loans in under-resourced or low-wealth communities.

According to a news release, the initiative is being funded by the state General Assembly, which created the program in 2022 to spur business growth.

Patrick Woodie, president and CEO of the NC Rural Center, says CDFIs play an increasingly crucial role in aiding small businesses, especially those that need loans of less than $250,000.

"The smaller the business, the more likely it is that a CDFI is the source of their lending, and particularly probably the first capital that they ever have in their business," says Woodie. 

One CDFI, Partner Community Capital in Winston-Salem, is receiving funding to hire staff, revise loan policies, and upgrade technology.

The Asheville-based Mountain BizWorks will use a grant to expand engagement in the High Country and improve technical capabilities. 

Woodie says a second round of grants will be awarded in the next year.  

Neal Charnoff joined 88.5 WFDD as Morning Edition host in 2014. Raised in the Catskill region of upstate New York, he graduated from Sarah Lawrence College in 1983. Armed with a liberal arts degree, Neal was fully equipped to be a waiter. So he prolonged his arrested development bouncing around New York and L.A. until discovering that people enjoyed listening to his voice on the radio. After a few years doing overnight shifts at a local rock station, Neal spent most of his career at Vermont Public Radio. He began as host of a nightly jazz program, where he was proud to interview many of his idols, including Dave Brubeck and Sonny Rollins. Neal graduated to the news department, where he was the local host for NPR's All Things Considered for 14 years. In addition to news interviews and features, he originated and produced the Weekly Conversation On The Arts, as well as VPR Backstage, which profiled theater productions around the state. He contributed several stories to NPR, including coverage of a devastating ice storm. Neal now sees the value of that liberal arts degree, and approaches life with the knowledge that all subjects and all art forms are connected to each other. Neal and his wife Judy are enjoying exploring North Carolina and points south. They would both be happy to never experience a Vermont winter again.

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