MAY Coalition is a nonprofit corporation based in Spruce Pine, NC, dedicated to creating employment opportunities for unemployed and underemployed residents of Mitchell, Avery, and Yancey counties. They achieve their mission through two loan programs, one for qualifying businesses that agree to create new full-time, non-seasonal jobs paying at least $6.00 per hour, and another for low to moderate income business owners looking to enhance their income through investment.
MAY Coalition receives funding from various sources, including a generous grant from the Z. Smith Reynolds Foundation, supplemental funding from the Community Foundation of Western North Carolina, the North Carolina Department of Commerce, and the United States Department of the Treasury CDFI Fund. They also receive additional funding through long-term loans from USDA Rural Development. With a volunteer-based Board of Directors and a loan committee, MAY Coalition carefully reviews applications based on factors such as job creation, repayment likelihood, borrower's character and credit history, business idea soundness, and collateral quality.
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