WDI Microloan Program intake form

Wilmington Downtown, iNC
226 North Front Street, Suite 130
Wilmington, NC 28401

Phone: 910-998-7744

Loan Terms:

  • Only commercial business owners within the Central Business District, established commercial districts, and emerging districts (see list below) are eligible applicants. Tax exempt entities such as religious or nonprofit groups are ineligible for loan funds.
  • Maximum loan amount = $20,000
  • Maximum term = 5 years
  • Loan rate = 3⁄4 of the New York Prime rate as of the date of the application approval
  • Payment deferral = Closed loans allow for loan payments to be deferred for the first 6 months. Interest on the loan will accrue during the deferral period.
  • Eligible expenditures include: inventory; furniture, fixtures and equipment; up to 3 months of rent or mortgage payments; equipment and equipment repairs; equipment to provide a safe/healthy environment for employees or customers; and adding or expanding e-commerce capabilities.
  • Ineligible expenditures include: personnel expenses/salaries; interior or exterior building renovations (unless the applicant owns the building); moving expenses; and vehicles.
  • In addition, applicants may not use funds to relocate from one building to another within downtown, unless this is the result of business expansion that creates new jobs.
Is your business a Women Business Enterprise, a Minority Business Enterprise or a Veteran-OwnedSmall Business? Check all that apply, or if not applicable skip this section.

Loan approval is based on underwriting performed by Civic Federal Credit Union. Not all applicants will qualify for the loan product offered. Other terms and conditions may apply.

Newsletter Sign Up

Subscribe to our email list and stay up-to-date with all WDI happenings.