RALEIGH, N.C. The Support Center, a community development organization supported by five area credit unions, has introduced special loans for military veterans.
The Veterans Direct Loan Program is a “no equity” requirement small business loan program targeting existing and new veteran-owned and Service-Disabled-Veteran-owned small businesses across the state. North Carolina is home to more than 100,000 veteran-owned businesses.
Veterans Direct Loans are available in minimum amounts of $5,000 and the maximum up to $200,000; loan terms range from 12 months to a maximum of 60 months (longer term amortizations may be offered on real estate transactions); interest rates may range between 6% - 9%; rates may vary depending on the financial condition of the borrower and the prime lending rate.
The Support Center consists of First Legacy Community CU, Generations Community CU, Greater Kinston CU, Latino Community CU and Self-Help CU.
