Ignite your next chapter: Ignite Loan Program fuels business growth and expansions

By Faith Hatton, posted Mar 19, 2026 on BizFayetteville.com

The Carolina Small Business Development Fund created and privately operates Ignite, a flexible loan program offering up to $75,000 to help small businesses thrive. Hope Mills-based Barbra Ann’s Southern Fried Chicken is a business that received funding for expansion through the Ignite program during its current cycle. The restaurant celebrated the grand opening of its second location at 2800 Gillespie St. on Jan. 13, 2026. Photos provided by CSBDF & GFBJ.

Carolina Small Business Development Fund (CSBDF) is seeking small businesses across the state to utilize an available funding resource to grow and expand their businesses.

Ignite, CSBDF’s flexible loan program, is offering up to $75,000 to small businesses that have been open for two years or more. The short-cycle program allows for fast funding to help specifically with business expansions.

Potential uses include working capital, vehicle purchases, equipment purchases, debt refinancing and more.

“We call [it] a short-cycle program because we can get it funded within 30 days, and it is specific to growing businesses that can demonstrate two years of consistent revenue, and that was the whole entire goal behind it. We realized that as businesses are growing, the challenge is with cash flow, right? What’s left at the end of every month and when they’re trying to grow cash flow, is everything,” shared CSBDF Business Solutions Officer Magaly Rivera.

The process begins with a request for a consultation from a Business Solutions Officer (BSO) to see if Ignite is the right fit for your business.

Businesses must be located in North Carolina, have no more than six NSF (non-sufficient funds) occurrences in the past two years, have proof of general liability and business personal property insurance and have an otherwise clean bill of financial and credit health.

NEXT, BUSINESS OWNERS WILL WORK WITH THE BSO TO PROVIDE THE APPROPRIATE DOCUMENTS, WHICH MAY INCLUDE:

Credit Authorization Form (for each guarantor)
Bank Statements (last six months, all pages for business and personal accounts)
Tax Returns (most recent business and personal returns or evidence of an extension + prior year’s return)
Debt Schedule (for your business)
Proof of Insurance (general liability and business personal property)

Finally, businesses can prepare for funding pending loan application approval. Required loan fees include a 3% origination fee and a $150 processing fee.

CSBDF runs the Ignite program independently as an internal program with no outside banks or third parties being involved in the application process.

“It is very much black and white, so is the gathering of the documents. They have to be willing to provide six months of business and personal statements, along with their most recent tax returns, any debt and proof of insurance,” shared Rivera. “With that, we’re at the loan table, and we can get an approval in a very short time. In addition to that, the cost is only 3% of the total loan. So, if you went for the full $75,000 plus the $150 application [fee], you would be paying $2,550, which is unheard of as it relates to origination and closing costs.”

With emphasis on providing the Ignite program as a resource for underrepresented communities, prime rates can vary on a case-by-case basis. According to CSBDF’s website, the Ignite program includes a 1% interest rate discount for Veteran-owned businesses and USDA Rural Area businesses receive a special rate, starting at 7%.

“Business owners are shocked and amazed when I come back maybe five days later and say, ‘Your loan has been approved,’ and then they get dispersed after that. The majority of the loan terms are for 36 months. There are instances where it could be a little more, like 60 months, but it has to be specific to certain things,” shared Rivera.

Residents of Fayetteville and Hope Mills are already familiar with a success story from the Ignite program. Hope Mills-based Barbra Ann’s Southern Fried Chicken is a business that received funding for expansion through the Ignite program during its current cycle.

The restaurant celebrated the grand opening of its second location at 2800 Gillespie St. on Jan. 13, 2026.

“They were ready to open a second location, and they were trying to do it on their own. And thank goodness they had an invite and information, and we were able to get them funded for their second location. So that’s an incredible example of a business that’s trying to grow,” shared Rivera.

With an open application process, business owners are encouraged to connect with their region’s BSO. Rivera serves as the BSO for the Sandhills region, which includes Cumberland, Robeson, Sampson and Bladen counties.

You can connect with her at mrivera@ carolinasmallbusiness.org or via phone at 919-803-1437 Ext. 238

You can also learn more about the Ignite program at www.carolinasmallbusiness. org/ignite.

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