Apply for a Business Loan that Fits Your Needs
Partner Community Capital (PCAP) lends to small businesses and nonprofits to grow their operations, increase profitability, create employment opportunities, and have a positive community and environmental impact.
About Our Lending
PCAP supports sustainable economic development by providing flexible, cash flow-based loans to small and emerging businesses in North Carolina and West Virginia. PCAP also lends to nonprofit organizations. PCAP offers flexible loans starting at $25,000, and works closely with borrowers to ensure they get the right loan for their needs.
Want to Apply?
Submit your information through our interest form below and one of our lenders will reach out to learn more about your financing needs.
- REVIEW: Take the Potential Borrower Quiz.
- READ: Read PCAP’s lending terms and what we look for in a loan application.
- REACH OUT: Reach out to the lender in your area! In your initial email/phone call, please remember to share:
- Business name and location
- Age of business
- Contact phone number and email address
- Estimated size of loan needed
- How you plan to use your loan
PCAP Loans
PCAP offers flexible terms that vary based on the purpose of the loan and business cash flow. The below information serves as a guideline.
Not sure what loan or program is best for you? Don’t worry. After you submit a completed loan application, your lender will work with you to determine which loan type and/or program best fits your borrowing needs.
Real estate loans are primarily used for land and/or building purchases and can include construction and renovation activity.
Equipment loans are primarily used to purchase large pieces of equipment such as production equipment, specialized manufacturing tools, and work-related vehicles (not cars). These loans can also be used to install solar and other renewable energy measures.
Working capital loans are primarily used to help your business by covering startup and/or growth-related expenses such as inventory, marketing, technology, or smaller pieces of equipment. Working capital loans can also help businesses invest in improvements such as small leasehold renovations.
In addition to working with federal credit enhancements and guarantees, PCAP occasionally offers specialty loan programs that can help a loan get across the finish line and benefit the borrower. Learn more about the specialty loan programs currently available.
You can use your PCAP loan in a variety of ways:
- Real estate purchase (land or building)
- Business acquisition
- New building construction (construction to permanent financing)
- Building renovation/leasehold Improvements
- Equipment (including vehicles)
- Refinance debt
- Working capital (including inventory)
- Solar/energy efficiency
Loan Terms
Eligibility
The business or nonprofit must be located in West Virginia, North Carolina, or surrounding Appalachian regions. All owners with 20%+ ownership in the business must co-sign the loan. Business owners must be at least 18 years of age, and businesses engaging in gambling, lending, speculation, and multi-sales distribution may be ineligible for funding.
Loan Amount
Loan amounts vary depending on how the loan funds will be used. Need a loan for multiple purposes? No problem. PCAP can work with you to structure a loan to fit your needs. If needed, a PCAP loan can be senior or subordinated debt that is part of a larger financing package.
Interest Rate
Our interest rates are based on a variety of factors, including loan size, loan type, and cost of capital. As of May 2024, interest rates for a PCAP loan range from 7%-10%. Note: Your lender will provide an updated interest rate during loan underwriting.
Loan Term
We look at each project on its own merits and structure loan payments to match the business cash flow or project. We offer amortizing loans and balloon loans amortizing term loans as well as balloon loans when appropriate. PCAP loans have no prepayment fees. Below are the general guidelines we use to determine a loan term (how long a business has to pay back a loan):
We look at each project on its own merits and structure loan payments to match the business cash flow or project. We offer fully amortizing term loans as well as balloon loans when appropriate. PCAP loans have no prepayment fees. Below are the general guidelines we use to determine a loan term (how long a business has to pay back a loan):
- Working Capital Loan: up to 5 years
- Equipment Loan: up to 10 years
- Real Estate Loan: up to 20 years
Fees
PCAP charges an origination fee of 1% of the loan amount, depending on the type of loan. A portion of this fee is due upon signing the commitment letter.
Borrowers pay all loan closing costs (e.g. filing fees, attorney’s fees, environmental due diligence, and fees for multiple disbursements).
The origination fee and loan closing costs can be financed as part of the loan. PCAP loans do not have prepayment fees.
PCAP is an Equal Opportunity Provider
We do not discriminate on the basis of race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to enter into a binding contract); or because all or part of the applicant’s income derives from any public assistance program.
