The G.R.I.T. Fund
Grant
An Opportunity for Business Growth through a Loan
Repay
The Trust & Belief in You & Your Company
Improve
Your Business
Transform
The Region of Eastern North Carolina
About the G.R.I.T. Fund
The G.R.I.T. Fund is a 501c3, non-profit organization created to meet the growing funding needs of Small/Medium-sized Businesses in eastern North Carolina. We provide micro-loans in the $5-25k range with an application decision turnaround as short as 72 hours and funding within another 48 hours. Our goal is to meet the needs of businesses WHERE and WHEN they need it the most to help them capitalize on immediate growth opportunities.
We fill the gap left by the traditional banking system through micro-loans to businesses that typically run into challenges obtaining growth financing from National, Regional and even Community-based banks. Our target demographic are businesses with solid operational histories, regardless of duration, a dedication to improving their business and most importantly, the communities in which they live and work. We are NOT a Private Equity/Venture Capital fund targeting high-growth start-ups, which are also important to our region but have access to capital through other channels.
Loan Criteria
- Minimum of One (1) Year of Operating History as a Business or Three (3) Years of personal experience in the industry
- Revenue/sales in current year < $500k
- Revenue/sales last 3-Yrs average < $500k
