Start or Grow a Business

To ensure a community’s vibrance and sustainability, a town must have a stable economy. Southern understands the need for thriving local businesses in rural towns, and works to promote business growth through various ways including:

• Lending – Through Southern’s lending department, individuals unable to seek traditional bank loans may qualify for a mortgage loan at Southern.  Since 1986, SBCP has financed hundreds of small entrepreneurs and key community assets such as healthcare facilities, schools and housing developments.
• Individual Development Accounts (IDAs) – IDAs are unique savings accounts that match the deposits of low- and moderate-income people. For every dollar saved in an IDA,  Southern program participants receive a 3:1 match. Program participants must also agree to complete financial education classes and use their savings for an asset-building purpose, like starting your own business.
• Credit counseling – Southern offers the services of certified credit counselors to help you reach your goals of opening your own business, better money management, and a more financially secure future.  Clients can attend financial education classes or work with one-on-one with our counselors on goals like paying off debt or improving credit history. Services are free and open to the public.
• Community development – SBCP is a 501(c)(3) organization providing development lending services and technical assistance to entrepreneurs and small business owners.