Raleigh, NC (October 31, 2008) - The North Carolina Tobacco Trust Fund Commission awarded a $500,000 grant to NCIF to provide loan and investment capital for sustainable agriculture businesses that help North Carolinians transition from the state's tobacco economy. NCIF funding will help borrowers expand current businesses and venture into new businesses that can provide employment and increase farm income.
NCIF was one of only two organizations to receive $500,000, which was the largest grant amount awarded by the Trust Fund this year. The grant will be leveraged with over $1.4 million in additional investment capital raised by NCIF over the next 2 years.
The North Carolina Tobacco Trust Fund was established in 2000 to help lessen the impact of declining tobacco production on tobacco farmers, workers and related businesses. The Trust Fund awarded $5 million for 24 projects across North Carolina in its 2008 grant cycle.
Visit www.tobaccotrustfund.org for more information.
NCIF Partners to Offer New Markets Tax Credit Products
In 2008, NCIF established a formal working partnership with CEI Capital Management, LLC to provide access to New Markets Tax Credit-based loan funds in our four state service area. This partnership represents a unique opportunity to accelerate the development and implementation of triple bottom line projects in rural Appalachia and the Southeast. Read more>
Powered by: Phase2 Technology1098 Turner Road
Shepherdstown, WV 25443
Phone: 304-876-2815
Fax: 304-870-2205
