NC Rural Center
The NC Rural Center invests in venture capital funds and offers various programs to support rural communities in North Carolina, focusing on small businesses, leadership training, and broadband access initiatives.
Business Capital Programs
The NC Rural Center operates three small business capital programs under the State Small Business Credit Initiative (SSBCI). These programs are designed to provide critical financial support to small businesses and entrepreneurs across rural North Carolina. The goal is to foster economic growth by offering various forms of financial assistance that help startups and small enterprises overcome initial financial hurdles. This initiative is part of the Center’s broader strategy to stimulate economic development in rural areas.
Venture Capital Investments
The NC Rural Center has invested $32 million in 10 venture capital funds specifically aimed at supporting socially and economically disadvantaged entrepreneurs. This investment strategy is aimed at fostering innovation and growth in underserved communities by providing necessary capital to early-stage companies. The Center's focus is on ensuring that these entrepreneurs have the financial backing needed to succeed, thereby contributing to the broader economic development of rural North Carolina.
Leadership Training and Advocacy
The NC Rural Center offers leadership training programs and expands engagement opportunities to strengthen the capabilities of individuals and organizations in rural areas. Additionally, the Center advocates for policy changes aimed at improving the quality of life in rural communities. These efforts are part of the Center’s mission to empower residents and leaders in rural areas to enact meaningful change and support community development.
Annual Rural Summit
The NC Rural Center hosts an annual Rural Summit, which serves as a platform to discuss and celebrate successes in rural development. This event brings together a diverse group of stakeholders, including community leaders, entrepreneurs, policymakers, and advocates, to share insights, strategies, and experiences. The Rural Summit aims to foster collaboration and inspire innovative solutions to the challenges faced by rural communities.
Faith in Rural Communities Initiative
The NC Rural Center supports rural faith communities through the Faith in Rural Communities initiative. This program provides resources and support to help rural faith-based organizations meet the evolving needs of their communities. By leveraging the existing infrastructure and influence of faith communities, the initiative aims to address social and economic challenges and contribute to the overall well-being of rural residents.
Broadband Access Initiatives
The NC Rural Center collaborates with regional and local government officials on broadband access initiatives. These efforts are aimed at expanding high-speed internet access to underserved areas, which is essential for economic development, education, healthcare, and overall quality of life in rural communities. By working with various stakeholders, the Center seeks to close the digital divide and ensure that rural residents have access to the technological resources they need.
Support for Rural Libraries
The NC Rural Center supports rural libraries in transforming to meet the diverse needs of their communities. This includes helping libraries expand their services beyond traditional offerings to become hubs of community engagement and development. By providing resources and support, the Center helps rural libraries adapt to changing community needs, thereby enhancing their role as vital community assets.