In the landscape of regional rural economic development, Nancy J. Blackman stands out for providing financial opportunities to hundreds of small businesses and helping them to forge a path forward in uncertain times. As director of the Dunn Area Committee of 100, Blackman addresses critical gaps in traditional financing structures that foster entrepreneurship and strengthen rural economies.

“Our mission is to create and save jobs,” Blackman explained.

A Harnett County native, Black man began her career with an accounting degree and practical experience as a small business owner in the agriculture and transportation sectors, granting her firsthand experience with the challenges facing rural entrepreneurs. 

As she advanced in her career, Blackman worked at the Dunn Chamber of Commerce, where she earned recognition for her financial acumen and passion for giving small businesses the resources they need to thrive. Her work at the Chamber led to being named the Director of the Triangle South Enterprise Center (TSEC) in 1990. As the new leader of the second oldest business incubator in the state, her first task was to help the organization become financially secure for the long-term.

With a keen sense of how to gather resources, Blackman cultivated relationships with federal agricultural development programs. 

“When I first met with the [United States Department of Agriculture] office to start a loan program, I was told I didn’t have enough experience and ‘maybe in a few years,’” shared Blackman. Undeterred, she negotiated an initial $100,000 USDA grant instead, which established a foundational pool of capital that became a seed for rural business development throughout the Dunn and greater Fayetteville regions.

After repaying USDA’s initial grant fund and proving her organization’s excellence in financial stewardship, Blackman progressively expanded TSEC’s pool of capital resources by successfully securing larger USDA loans and absorbing nearby small business loan funds. She also partnered with the 1-95 corridor economic development coalition. 

Under Blackman's leadership, TSEC helped 225 local businesses secure essential cash flow through 2024, saving countless jobs across diverse industries from manufacturing to marinas. TSEC also served as a lifeline for businesses heavily impacted by the COVID-19 pandemic, including restaurants, childcare facilities and beauty shops. 

With the backing of the successful loan fund she built, Blackman enjoys being the person who can say “yes” to struggling small businesses. 

“I don’t have to turn anyone down,” shared Blackman. 

TSEC addresses shortfalls in rural and small business financing while maintaining prudent risk management and underwriting standards. Focused on preserving jobs and rural economies, the long-standing small business incubator expands access to capital for businesses that may otherwise face insurmountable barriers in conventional lending environments.

While traditional lenders can be prohibitively cautious about funding rural startups and other early-stage businesses, Blackman sees these applicants through the lens of opportunity. The financing structure she has developed accommodates borrowers with credit profiles beginning at 600, while offering extended amortization periods of 10-20 years, without balloon payment structures that frequently threaten small business cash flow management. 

The fund’s interest rates remain highly competitive, typically within a 6%-7% framework, and never exceeding 9%. The organization also offers flexibility for businesses that are experiencing periods of revenue volatility.

“Nobody goes into business to fail,” Blackman said. “We can help them restructure their debt so they can survive and build their business back up.” As the director of the Dunn Area Committee of 100, Blackman continues to administer TSEC while innovating new ways to promote economic growth throughout the region. Currently working out of temporary offices at 107 North Wilson Ave. in Dunn, she is excited to move back into the organization’s fully renovated permanent facility at 600 South Magnolia Ave. in July.

The newly designed space will offer many ways to support business development and workforce readiness. For instance, TSEC rents office spaces at or below market rate to help guide small business startups or those experiencing financial challenges. The facility also will provide skills training tailored to local workforce needs and a new small business incubator space focused on the technology sector.

Guided by her long-held drive to empower rural and start-up businesses, Blackman will undoubtedly identify new ways to raise capital to fulfill her mission of preserving rural jobs. 

As an Ambassador Elite member with more than 30 years of continuous affiliation with the Dunn Chamber of Commerce, Blackman also serves the community as a board member for regional institutions including CommWell Health, Dunn Woman's Club and Friends of the Howard House. 

For comprehensive information regarding the Dunn Area Committee of 100 and the Triangle South Enterprise Center capital access programs and business development services, visit www.dac100.com or call 910-892-2884.