Mountain Community Capital Fund Information Last updated or reviewed on March 4, 2026 What is the Mountain Community Capital Fund? The Mountain Community Capital Fund is a loan guarantee fund for small business loans available to entrepreneurs in Asheville and Buncombe County. It is a collaboration between Carolina Small Business Development Fund, Mountain BizWorks, Self-Help Credit Union, the City of Asheville and Buncombe County. This loan fund is intended for business owners who don’t have collateral, which can be a barrier to getting a business loan. It is available to all entrepreneurs living within the City of Asheville or Buncombe County. This fund is intended for loans ranging from $5,000.00 to $70,000.00, although larger loan amounts may be considered. The program launched on Tuesday, August 27, 2019. The Mountain Community Capital Fund is sponsored by The City of Asheville, Buncombe County, Self-Help Ventures Fund (“Self-Help”), Carolina Small Business, and Mountain BizWorks. For additional information on the Mountain Community Capital Fund Operating Committee, which has City and County staff and appointees serving to make decisions about the Mountain Community Capital Fund. How can my business qualify for a loan guarantee from the Mountain Community Capital Fund? Proof of Business Viability The Mountain Community Capital Fund prioritizes loan guarantees for established small businesses that demonstrate strong viability. Factors considered in the application include: Time in Business – The applicant’s business must have been in operation for at least 12 months and be able to provide year-end financial statements. Start-up businesses are also considered under more rigorous requirements. Management Experience – Applicants should showcase a strong track record of successful management experience and/or have formal relationships with strategic partners who provide relevant expertise. Industry – All for-profit businesses are eligible to apply, except those in certain restricted industries. For more information, please contact one of the participating lenders. Financial Trends – The business should reflect general trends of revenue growth, increasing profitability, and a strong balance sheet. How do I apply for a loan guaranteed by the Mountain Community Capital Fund? Interested applicants should first contact the lenders listed below and complete a standard small business application. Borrowers will need to show that they have the ability to make debt payments and provide proof of their business’s viability (see above). Carolina Small Business Development Fund Carolina Small Business Development Center MCCF@CarolinaSmallBusiness.org Mountain BizWorks Mountain BizWorks MCCF@mountainbizworks.org Self Help Credit Union Self-Help Credit Union businessloans@self-help.org How the approval process works Apply for a loan. The entrepreneur files a standard business application with a participating lender. Lender approaches MCCF. If the loan qualifies for a guarantee, the lender submits to the MCCF Committee for approval. Committee reviews loan guarantee request. MCCF Committee approves or denies the loan guarantee request. Finish loan process. Once approved by MCCF, the Lender completes processing and disbursement of funds. Frequently Asked Questions (FAQ) What is a loan guarantee? A loan guarantee is a promise made by an organization or individual (known as the ‘guarantor’) to pay a certain amount of the outstanding balance on a loan in the event that the borrower is unable to pay it in full. Who is the lender? Participating Lenders include Self-Help Credit Union, Mountain BizWorks, and Carolina Small Business. Interested applicants should file a standard small business application with a Participating Lender. What is a guarantor? A guarantor is a financial term describing an individual who promises to pay a borrower’s debt in the event that the borrower defaults on their loan obligation. Who is the guarantor? Mountain Community Capital Fund is the guarantor for certain small business loans underwritten and approved by Participating Lenders. What are the loan terms? The MCCF works to guarantee loans as small as $5,000 and as large as $75,000. Loan terms (length of repayment window) and Interest Rates are competitive and determined by the lenders. What kind of collateral is required? MCCF will consider applicants who have no or little collateral. Examples of collateral include cash, financial assets, real estate, personal property. Is Mountain Community Capital Fund a loan fund? MCCF is a guarantor on qualifying loans from Participating Lenders. If you are interested in a loan, please contact a Participating Lender. Can I apply through all three participating lenders? No. You may only apply to one lender at a time. Partners Mountain Community Capital Fund is made possible by the following community partners: Carolina Small Business Development Fund Mountain BizWorks Self-Help Credit Union The City of Asheville Buncombe County Contact Information Email: abi@ashevillenc.gov Phone: (828) 259-8050
