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Shellfish Growers Loan Program

Thread Capital and Array Community Development

Funding Amount

Up to $50,000

Funding Cycle

Rolling Applications


This loan program is a partnership with the North Carolina Rural Economic Development Center and the North Carolina Coastal Federation, designed to support the growth of the NC shellfish industry

The organization has a specific focus on small businesses that are owned by people of color, women, low-income individuals, and rural-based individuals

- Loans are available for up to $50,000 and can be used for working capital or equipment
- Loan terms are for a minimum of 12 and a maximum of 60 months
- Loan payments are fully amortized over the term of the loan
- Interest rates are fixed at Prime rate plus 2.25 percent
- There is no pre-payment penalty
- Defaulted loans are subject to commercial collection processes

Who Can Apply

The business must have:
- USDA FSA Noninsured Crop Disaster Assistance Program (NAP) coverage
- A shellfish lease from the NC Department of Environmental Quality
- The shellfish operation must be physically located in North Carolina

Other Requirements:
- Any individual with greater than 20 percent ownership in the applying business must co-sign the loan

Additional Eligibility Requirements

- Download the Shellfish Growers Loan informational flyer

All applicants must:
- Own and operate a legal for profit business in NC or plan to do so
- Be at least 18 years of age
- Have credit showing a successful repayment history
- Not have any active judgments, foreclosures, or federal obligations in default
- Sufficent cashflow to cover household and business expenses and this additional debt

How to apply:


North Carolina

Additional Information

If you have questions, contact the organization at or (919) 212-4950

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