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Find similar grantsBusiness Loans (Ag Tech Loans) is sponsored by North Carolina Biotechnology Center. Offers business funding programs to innovative North Carolina life sciences companies, specifically including Ag Tech Loans, to fill gaps in technology development and company growth.
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Type: Loan | Category: Business Loans The Ag Tech Loan Program provides funding to early-stage promising Ag Tech companies. These awards, ranging from $100,000 to $250,000, are intended to advance innovative technology impacting agriculture or agribusiness.
For a candidate Ag Tech company to be eligible to apply for the Ag Tech SRL, it must meet the minimum criteria below: * Develop and maintain a significant operating presence in North Carolina. All applicants are required to establish and maintain a business registration with the NC Secretary of State.
Preference will be given to companies that are engaged in significant research, product development, or manufacturing activity in North Carolina.
* Be engaged in research to develop or manufacture innovative technology impacting agriculture or agribusiness in NC in areas of crop genetics, crop protection, precision agriculture, regenerative agriculture, animal health, food science, precision fermentation, data science, and circular bioeconomy. * Have achieved a robust technical _proof-of-principle_ of its technology for the intended product or application.
* Have a dedicated management team. At minimum, _one management team member_ in North Carolina is dedicating at least 30 hours per week to the company as his/her primary employment. * Have relevant novel intellectual property necessary for successful commercialization.
**NCBiotech determines compliance with these requirements in its sole discretion on a case-by-case basis. ** _**Pre-Application**_**:**Pre-applications are accepted by invitation only following qualification of the applicant’s eligibility. Applicant eligibility is assessed by meeting with one or more members of the Investments team, after which qualified applicants are invited to apply into the nearest quarterly round.
Pre-applications should describe the company’s management, technology, proposed project, and budget. _**Full Application**_: Following competitive review of pre-applications, the strongest applicants will be invited to submit a full application further describing the company’s commercial opportunity, development and financing strategies, and other supporting documentation.
_**Review and Approval:**_ Following competitive review of full applications, the strongest applicants will enter due diligence with a member of the Investments team to further evaluate the team, technology, and commercial potential. Final funding recommendations will be presented to NCBiotech senior leadership and a subcommittee of its Board of Directors for final review and approval.
### Application Deadlines: The Small Business Research Loan consists of: * A senior loan with favorable terms including: * Five-year, fixed-term balloon note * Interest rate equal to the current Wall Street Prime rate plus 2%, with a maximum rate of 7% * A warrant to purchase company stock **For all SRL inquiries, please contact loans@ncbiotech.
org** Type: Loan | Category: Business Loans ## North Carolina Ag Tech Loans **Maximum award: $250,000** **Contact: loans@ncbiotech. org**
According to the current listing, eligibility includes: Innovative North Carolina life sciences companies. Confirm the full requirements in the official notice before applying.
The current listing shows $250,000. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Business Loans (Ag Tech Loans) is funded by North Carolina Biotechnology Center. Verify program details on the funder's official page before applying.
This opportunity targets applicants in North Carolina. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
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