Chamber Chat - Thread Capital

Aug 05

By Meg Moss

 

Small businesses are the backbone of North Carolina’s economy. Thread Capital is a nonprofit organization focused on ensuring that all small businesses in North Carolina have access to the resources they need to start and grow. Thread Capital provides access to capital, coaching, and connections in the belief that with these tools, entrepreneurs will create jobs in all 100 North Carolina counties. With the right support, entrepreneurs can change the course not only of their families but also their communities.   
 

Rural Center President and CEO Patrick Woodie tells me that they launched Thread Capital just this year. Although a subsidiary of the Rural Center, Thread Capital does provide services to small businesses (and potential businesses) in all 100 counties in our state – not just our rural communities. 
 

Thread Capital works one-on-one with small business owners to identify and provide connections to the optimal financing, networking, and coaching resources for their business. They work with individuals who have good ideas and experience but may have difficulty obtaining financing for their business.
 

Thread Capital is only one part of a larger network. Thread’s website indicates that they provide direct financing to businesses and provide connections to other lenders if they are not a good fit. They work with additional partners across the state who provide additional coaching and networking. These include Small Business Centers and NC Small Business and Technology Development Center offices. Thread Capital has a network of resources for small business borrowers seeking as little as $500 and as much as $5 million. And a business does not have to be incorporated to apply for a loan, and many of their borrowers are sole proprietors.
 

One of the many things we do at the Chamber of Commerce is that we believe everyone deserves the chance to be successful. Thread Capital provides people the tools they need to pursue their small business dreams and create a better tomorrow for themselves, their families, and their communities. That’s what matters to us, right? Their goal is to provide information on all available resources for small businesses.
 

Another resource that was mentioned earlier in this article is the NC Small Business Centers (SBC). Our local Small Business Center is found at Central Carolina Community College’s Center for Workforce Innovation, located in Industrial Park. Small Business Centers provide local, confidential, experienced business counselors as advisors for new and existing businesses. These counselors’ act as a sounding board for new ideas, or concerns people may have about their business. SBC staff understand the unique economic situations of North Carolina’s diverse communities and regions, and provide services customized to meet those as well as specific business needs. Experienced business counselors help business owners find solutions to their challenging business questions. And best of all, there is no charge for this service. Business owners and potential owners can contact our SBC Director, Terri Brown at (919) 718-7544.
 

And we at the Chamber are in discussions for some additional support for new businesses. Stay tuned for details!



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