SANFORD - One of the biggest hurdles to starting or expanding a business is limited access to capital, according to Mike Jones, Central Carolina Community College's Small Business Center (SBC) Director in Lee County.

"Since July, 2014, our Small Business Centers have helped clients obtain over $1 million in new loans through partnerships with the USDA Intermediary Relending Program, Dunn Area Committee of 100 and the NC Rural Center," said Jones. "In addition, our clients have also made personal investments in their businesses of $306,461 for a total capital formation of $1,381,356," said Jones.

Jones said these loans have helped CCCC's SBC clients create or retain 53 jobs. "This capital investment is being used for building and equipment purchases, building renovations, operating capital, and more," said Jones. "This is a perfect example of the business model known as 'Economic Gardening,' where you invest in local businesses to help them get started and grow. The businesses receive needed capital to start or grow their business and, in turn, they spend money with other businesses in their communities, which helps the local economy. It's a win-win situation."

Nancy Blackman, Director of the Harnett SBC and USDA Relending program, said 2014 was a very busy year, lending and assuming loans of approximately $2 million. "Loans were made to 13 different clients in our service area," said Blackman. "Additionally, the Harnett Small Business Center and Dunn Area Committee of 100, Inc. assumed 12 loans and nine new clients through a transfer agreement with USDA - Rural Development and another non-profit lender. These loans will have a very positive impact in the communities where these businesses are located."

The mission of the CCCC Small Business Centers is to increase the success rate and number of small businesses in Chatham, Harnett, and Lee counties by providing high quality, readily accessible assistance to prospective and existing small business owners. Available services include free business seminars offered throughout the year, and confidential one-on-one business counseling, referral, and information.

For more information on Central Carolina Community College's Small Business Centers, contact Mike Jones, SBC Director in Lee County, at 919-718-7424 or email mjones@cccc.edu; Nancy Blackman, SBC Director in Harnett County, at 910-892-2884 or email nblackman@cccc.edu; or Jon Spoon, SBC Coordinator in Chatham County, at 919-545-8013 or email jspoon@cccc.edu.

To learn more about each of the small business centers, visit www.cccc.edu/sbc.