DURHAM, N.C. – Latino Community CU announced it is adding two new branches and will start making small member business loans.
The $90 million community development credit union will offer micro business loans to entrepreneurs who want to start or expand a small business. The loans are capped at $5,000 for startup ventures and $10,000 for businesses that have been operating at least a year and ready to expand.
The loans will come bundled with educational services to assist entrepreneurs, including a two-hour workshop on the basics of starting a business and one-on-one counseling from credit union staffers.
The credit union, which has eight branches across the state, is opening a branch in Carrboro on April 1 and another in Monroe, near Charlotte, on May 1.
