What is NRDA?

Neuse River Development Authority, Inc. (NRDA) is a non-profit small business lender serving a 10-county region in eastern North Carolina. Offering seven different loan programs, NRDA's goals are job creation coupled with sustainable economic growth. Since it's beginning in 1979, NRDA has loaned over $30mm to business owners throughout eastern North Carolina.

Neuse River Development Authority, Inc. (NRDA) makes small business loans to new and expanding businesses that have been unable to obtain conventional financing or that need to leverage conventional financing. Our goals are to enhance economic development, create jobs and entice lending institutions to lend more money to small businesses by providing subordinate long-term financing. Lending institutions may earn CRA credits by using any of NRDA’s loan programs.

NRDA has over $4.3 million available for direct lending. We also participate in the SBA 504 loan program. Our in-house loans range in size from $1,500 to $150,000. The SBA 504 loans start at $50,000 and most loans have a maximum of $1.5 million however, public policy loans can go as high as $2 million and loans for manufacturing facilities have a maximum of $4 million.

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