Who's it for?
Entrepreneurs looking for funding to reach specific milestones while receiving mentoring.
What problem does it solve?
For biotech companies, reaching milestones with their products can be challenging without the right amount of funding.
How does it help?
The Strategic Growth Loan will be disbursed in a controlled manner once the company reaches specific agreed upon milestones.
The Strategic Growth Loan (SGL) program is designed to help North Carolina life science product companies reach specific and meaningful milestones that will enable them to obtain further funding from investors and to commercialize their products. For most applicants, SGL awards of up to $250,000 will be matched by an equal or greater investment from one or more organized angel groups or venture capital firms. For certain exceptionally well-qualified applicants that have a larger matching investment from a top-tier life science investment group, an SGL award of up to $500,000 will be possible.