NCBiotech Strategic Growth Loan (SGL)
North Carolina Biotechnology Center (NCBiotech)
Up to $650,000 (standard cap $500,000)
Researched for this program: 5 rejection traps · 6 required documentsWhat decides this award ↓
NC milestone loan for biotech companies
The Strategic Growth Loan (SGL) is a milestone-oriented loan from the North Carolina Biotechnology Center for North Carolina life-science product companies that have secured private investment and need to reach a value-inflecting milestone. The SGL is designed to extend a company's runway to its next equity raise, partnership, or commercialization step. Loans are capped at $500,000 (raised from $250,000) and require a matching equity investment of at least an equal amount from an accredited investor or syndicate. Interest is set at the prime rate plus 3%. The company is the direct borrower; the program is explicitly for businesses, not academic labs.
- Funding type
- Loan
- Level
- State
- Amount range
- $100,000 – $650,000
- Realistic amount
- Companies with a strong, near-term equity match typically borrow toward the $500,000 cap; the loan is sized against the milestone and the matching investment. The matching-investor requirement is the practical determinant of award size.
- Deadline
- Quarterly deadlines; next: November 5, 2026 (then February 5, 2027). Applications are by invitation following an eligibility review with the NCBiotech Investments team.
- Status
- active
- States
- North Carolina
- Payment model
- loan
Who qualifies
- North Carolina life-science company with a significant operating presence in NC
- Business registration in good standing with the NC Secretary of State
- Has secured (or has a near-term commitment for) a matching equity investment at least equal to the loan amount from an accredited investor or syndicate
- Clear, value-inflecting milestone the loan will help the company reach
- Management team with at least one member in NC working on the company as primary employment
- Controls the IP necessary for commercialization
Hard requirements
- Must be an incorporated business
What it covers
Eligible expenses
- Product development to reach a defined milestone
- Clinical or regulatory activities
- Personnel and operating costs extending runway to the next raise
- Business development and commercialization positioning
Ineligible expenses
- Activities outside North Carolina inconsistent with the operating-presence requirement
- Refinancing unrelated debt
- Uses not tied to the agreed milestone
How to apply
-
1
Meet with the NCBiotech Investments team
Initial eligibility is assessed in a meeting with one or more members of the Investments team. Pre-applications are by invitation only after this qualification.
~4 hrs
-
2
Secure the matching equity investment
Obtain a commitment for a matching equity investment of equal or greater value from an accredited investor or syndicate — this is a hard requirement.
~20 hrs
-
3
Submit pre-application into the quarterly round
Invited applicants submit a pre-application covering the company, the milestone, the matching investment, and use of funds, timed to the nearest quarterly deadline.
~12 hrs
-
4
Full application and due diligence
Provide the full business plan, financials, milestone budget, and matching-investment documentation; NCBiotech conducts diligence and credit/loan review.
~24 hrs
-
5
Close the loan
Negotiate and execute the loan agreement (prime+3% interest) with milestone-linked terms and disbursement.
~8 hrs
The matching-equity requirement, not the science, is what gates the SGL — get an investor term sheet or firm commitment in hand before you ask for the meeting. NCBiotech's SGL is best used as venture debt that bridges a company between an angel/seed round and a larger Series A milestone.
Deadline & timing
The SGL uses quarterly application rounds. Eligibility is assessed first via a meeting with the Investments team; qualified applicants are then invited into the nearest quarterly round.
Applications are open — don’t lose the window
GrantCompass tracks NCBiotech Strategic Growth Loan (SGL)’s application windows in the live catalog. Leave an email and we’ll warn you before this window closes — and tell you when the next round opens.
Free. One email when the window moves, deadline warnings on your watchlist, and the monthly closing-soon digest. Unsubscribe anytime.
Programs that stack well
Related programs
Also open right now
Alternatives computed from the live GrantCompass catalog on November 1, 2026 — all 170 open grant programs · filter the database.
Explore more funding
Last updated October 19, 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.