Incentives

Companies that meet certain requirements can take advantage of tax credits and other incentives including sales and use tax discounts, exemptions and refunds, discretionary programs, and other cost-saving programs. Some of these programs are highlighted below.

Loans

  • Biotechnology Center Business Loans - Program offers loans to biotechnology companies operating in the State. For more information, https://www.ncbiotech.org/funding#business
  • Business and Industry Guaranteed Loans (B&I) - USDA Loan Program designed to improve, develop, or finance business & industry, that foster employment opportunities and improve the economic and environmental climate in rural communities. For more information, http://www.rurdev.usda.gov/BCP_gar.html
  • SBA 7 (a) Loan Program – Operated by the US Small Business Administration, the program helps to connect existing small businesses and start-ups with financing to foster investment and entrepreneurism in local communities. For more information, visit the program’s website https://www.sba.gov/funding-programs/loans or contact the SBA’s North Carolina District Office at (704) 344-6563.
  • SBA Microloan Program – Provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000. Funds can be used for: working capital, inventory or supplies, furniture or fixtures, and machinery or equipment. For more information, visit the program website - https://www.sba.gov/funding-programs/loans
  • Real Estate and Equipment Loans (CDC/504) - SBA administered loan program which assists business owners to invest in real estate and long-term machinery & equipment. For information, https://www.sba.gov/funding-programs/loans.

GRANTS

  • Town of Yadkinville- Business Improvement Grant (BIG)- Grant provides funding to Yadkinville  businesses & property owners to make enhancements and renovations. For more information, read the guidelines provided on this page or contact Town Hall at (336) 679-8732.  
  • One North Carolina Fund- Assists firms that are expanding or locating a new facility in North Carolina by providing financial assistance. For more information,
    http://www.thrivenc.com/incentives/financial/discretionary-programs/one-north-carolina-fund
  • Job Development Investment Grants (JDIG) - Provides grants to new and expanding businesses measured against a percentage of withholding taxes paid by new employees. For more information, http://www.thrivenc.com/incentives/financial/discretionary-programs/job-development-investment-grant
  • Rural Business Investment Program (RBIP) - USDA program that promotes economic development in mostly rural areas by helping to meet the equity capital investment needs of smaller enterprises & firms. For more information, http://www.rurdev.usda.gov/BCP_RBIP.html
  • Rural Business Enterprise Grants (RBEG) Program- Provides grants to projects that finance & facilitate the development of small or emerging rural businesses. The Grant Program also helps to fund distance learning networks and employment related adult education programs. For more information, http://www.rurdev.usda.gov/BCP_rbeg.html

Tax Credits

Other Programs

Helpful Documents