The Ag Tech Loan Program provides funding to early-stage promising Ag Tech companies. These awards, ranging from $100,000 to $250,000, are intended to advance innovative technology impacting agriculture or agribusiness.
Eligibility
For a candidate Ag Tech company to be eligible to apply for the Ag Tech SRL, it must meet the minimum criteria below:
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Develop and maintain a significant operating presence in North Carolina. All applicants are required to establish and maintain a business registration with the NC Secretary of State. Preference will be given to companies that are engaged in significant research, product development, or manufacturing activity in North Carolina.
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Be engaged in research to develop or manufacture innovative technology impacting agriculture or agribusiness in NC in areas of crop genetics, crop protection, precision agriculture, regenerative agriculture, animal health, food science, precision fermentation, data science, and circular bioeconomy.
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Have achieved a robust technical proof-of-principle of its technology for the intended product or application.
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Have a dedicated management team. At minimum, one management team member in North Carolina is dedicating at least 30 hours per week to the company as his/her primary employment.
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Have relevant novel intellectual property necessary for successful commercialization.
NCBiotech determines compliance with these requirements in its sole discretion on a case-by-case basis.
Application Process
Applications: Applications are accepted by invitation only following qualification of the applicant’s eligibility. Applicant eligibility is assessed using a questionnaire and by meeting with one or more members of the Investments team, after which qualified applicants are invited to apply into the nearest quarterly round. Qualified applicants will be invited to submit an application describing the company’s management, technology, proposed project, budget, commercial opportunity, development and financing strategies, and other supporting documentation.
Review and Approval: Following competitive review of applications, the strongest applicants will enter due diligence with a member of the Investments team to further evaluate the team, technology, and commercial potential. Final funding recommendations will be presented to NCBiotech senior leadership and a subcommittee of its Board of Directors for final review and approval.
Application Deadlines:
| Application Deadline: | For potential approval by: |
|---|---|
| June 24, 2026 | September 11, 2026 |
| September 14, 2026 | December 4, 2026 |
| November 11, 2026 | March 5, 2027 |
| February 5, 2027 | June 4, 2027 |
Loan Terms
The Small Business Research Loan consists of:
- A senior loan with favorable terms including:
- Five-year, fixed-term balloon note
- Interest rate equal to the current Wall Street Prime rate plus 2%, with a maximum rate of 7%
- A warrant to purchase company stock
For all SRL inquiries, please contact [email protected]