Carolina Small Business Development Fund

Carolina Small Business Development Fund is a nonprofit and CDFI that promotes economic development by providing loans and technical assistance to small businesses in North Carolina.

Everything started in 1990 when Community Development Credit Unions (CDCUs) needed help. At the end of the 1980s, regulators began applying more stringent requirements on CDCUs, pushing some to the brink of liquidation. In response to the crisis, representatives from the CDCU network came together in the interest of preserving small, historically black credit unions. This collaboration lead to the creation of what was then called the North Carolina Minority Support Center (NCMSC). The NCMSC's mission was to provide ongoing technical assistance and capital to support CDCUs throughout North Carolina. Generous support from the North Carolina General Assembly, the Z. Smith Reynolds Foundation, the Stevenson Credit Union Assistance Program, and the National Federation of Community Development Credit Unions helped to build the NCMSC into a nationally recognized resource.

Over the past 30 years, from humble beginnings as the NCMSC, Carolina Small Business Development Fund has transitioned to become the leading provider of capital for small businesses in the state. With our recent name change in 2016 from The Support Center to Carolina Small Business Development Fund, we have reinforced our commitment to help small businesses achieve their business dreams.

We strive to build communities where passionate entrepreneurs can succeed and have expanded our reach into all areas of the state to expand access to capital and opportunity for all.