Family Support

SERVE

Services/Programs Description

1. People like you contribute to the Equity Fund!

2. The Equity Fund capital can be used as collateral to make funds available to that community member. For instance, $1000 in the Equity Fund can make a $1000 distribution to someone immediately possible.

3. The equity fund draws some interest on the capital while it is in the fund (in an account at Self-Help Credit Union) and the borrower receives funds interest free.


Eligibility

1. SERVE is contacted by an individual, family, or organization.
2. The applicant Completes an Application.
When completing an application, the candidate understands the following:
I will never pay any interest.
My repayment supports others in starting their own business and fulfilling dreams.
No penalties will apply if I make a good faith effort to repay.
I can change my request by submitting it in writing for approval.
I agree to report quarterly my progress with my business and/or resource ownership.
3. Following review of the submitted application, SERVE will contact the applicant to schedule an initial interview.
4. During the initial interview meeting-
The applicant will need to provide the following items to the interviewer:
Copy of proof of income.
Copy of photo ID or driver’s license.
Proof of costs being requested and/or already paid for items for reimbursement.
5. The following forms are completed with the interviewer:
SERVE Capital Agreement
SERVE Trust Agreement
Contingent on approval, the capital infusion is provided to the applicant.
For the duration of the capital infusion:
6. The applicant will complete a required Quarterly Self-Evaluation.
7. The applicant may receive support (optional) through SERVE channels and/or recommendations.
8. Successful Repayment!


Phone Number(s)

828-505-8175


Work Together NC