BUSINESS / EQUITY PROGRAMMING

Com­mu­nity Hous­ing Invest­ment Pro­gram “CHIP”

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“Help­ing Peo­ple Live the Dream of Homeownership”

Feb­ru­ary 25, 2011, Ken Sykes, Pres­i­dent of North State of Raleigh, NC has agreed to part­ner with SERA, Inc. to fur­ther our Hous­ing Ini­tia­tive.  SERA, Inc. is com­mit­ted to help­ing to sta­bi­lize neigh­bor­hoods by pro­mot­ing mea­sures to make qual­ity hous­ing more avail­able, increas­ing home own­er­ship and afford­able rentals; along with offer­ing finan­cial and credit counseling.

So, through our New Com­mu­nity Hous­ing Invest­ment Pro­gram “CHIP” we have cre­ated an oppor­tu­nity for cit­i­zens In South­east Raleigh and through­out the Tri­an­gle to live the “Dream” of pur­chas­ing a home.

Founded in 2000, North State Bank is a full-service com­mu­nity bank, serv­ing Wake and New Hanover Coun­ties through seven full-service offices and a loan pro­duc­tion office in Carteret County. They are com­mit­ted to our part­ner­ship and have agreed to assist every buyer that enters CHIP an oppor­tu­nity to secure a mort­gage with North State.

A “CHIP” Quick Look:

  • Par­tic­i­pant is eli­gi­ble to receive down pay­ment assis­tance (up to $8000) towards their home
  • Par­tic­i­pant must have a min­i­mum credit score of 620
  • Par­tic­i­pants enrolled in CHIP must have a $1000 down pay­ment of their own funds, can­not be a gift
  • The participant’s income will deter­mine how much down pay­ment assis­tance he or she can receive (not to exceed $8000). For exam­ple, if the bor­rower makes less than $43,550 (Wake County), he or she would qual­ify for the $8000 down pay­ment assis­tance and would only need a 620 credit score. Qual­i­fi­ca­tions are based on total income for the house­hold and credit score. The income lim­its vary from county to county.
  • SERA, Inc. will offer finan­cial and credit coun­sel­ing to assist par­tic­i­pants with mort­gage approval
For more infor­ma­tion call SERA Staff at 919–747-8420

Busi­ness Devel­op­ment Service

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South­east Raleigh is a trea­sure trove of diverse, cre­ative and entre­pre­neur­ial minds.  Many cit­i­zens are inter­ested in open­ing a small busi­ness or a non-profit and just don’t know what direc­tion to take to begin bring­ing their busi­ness goals to fruition or even if their plan or ideas are viable.  SERA Inc.’s team of experts work to clar­ify and de-mystify the steps it takes for busi­ness minded indi­vid­u­als to start a suc­cess­ful business.

In order to be an effec­tive and suc­cess­ful busi­ness owner while impact­ing the eco­nomic envi­ron­ment within com­mu­ni­ties through your busi­ness ven­ture, busi­nesses and orga­ni­za­tions must not only advo­cate for change; they must be struc­tured as a legit­i­mate 501c3 non-profit orga­ni­za­tion, or LLC, and work toward finan­cial inde­pen­dence or solicit finan­cial sup­port for their prod­ucts, pro­grams, ser­vices.  SERA, Inc. is com­mit­ted to sup­port­ing and pro­vid­ing tech­ni­cal assis­tance to those who want to expe­ri­ence that structure.

SERA, Inc. busi­ness devel­op­ment ser­vices include the following:

  •  An ini­tial 30 minute free con­sul­ta­tion and sign­ing of a Non-Disclosure Agreement
  • Dis­cus­sion of which busi­ness model is appro­pri­ate (LLC, 501c3)
  • Secur­ing an Employer Iden­ti­fi­ca­tion Num­ber (EIN) for the client
  • Devel­op­ing Arti­cles of Incor­po­ra­tion and dis­cuss with client
  • Devel­op­ing Orga­ni­za­tional By-Laws and dis­cuss with client
  • Devel­op­ing a Con­flict of Inter­est Pol­icy and dis­cuss with client
  • Assist­ing with devel­op­ing Mis­sion and Vision statements
  • Assist­ing with nar­ra­tive pro­gram prospec­tus for IRS 1023 Appli­ca­tion For Tax Exemption
  • Develop 3 year bud­get pro­jec­tions and fil­ing IRS 1023 Appli­ca­tion For Tax Exemption
For more infor­ma­tion call  SERA, Inc. 919–747-8421
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