Each One Teach One Entrepreneur Fund
A self-sustaining, member-driven capital pool. Pioneer graduates borrow to build their businesses, repay the fund, and those repaid dollars are lent to the next member — repeating the cycle indefinitely.
10% Interest
Fixed annual rate · Applies to all EOTO Revolving Fund loans
Loan Terms
Interest Rate
10% fixed annual interest, applied to the outstanding principal balance
Stage 6 Loan Range
$500 – $5,000
Stage 7+ Loan Range
$1,000 – $10,000
Repayment
Monthly installments over a term agreed at disbursement, typically 12–36 months
Use of Funds
Business startup costs, equipment, inventory, licensing, or working capital — as approved in the borrower's business plan
Late Payment
A 10-day grace period before any late notice; program staff work with the borrower on hardship adjustments before default
The Revolving Fund
How It Works
Members Borrow
Pioneer graduates in good standing apply for startup capital from the Revolving Entrepreneur Fund.
They Build
Loans fund equipment, inventory, licensing, or working capital to launch and grow their business.
They Repay
Repaid principal plus 10% interest flows straight back into the Fund — no interest is kept by any officer.
The Next Member
Those repaid dollars immediately recirculate to the next eligible entrepreneur, repeating the cycle indefinitely.
How the Fund Is Capitalized
The Fund maintains a dedicated bank account separate from all other organizational accounts. No operational expenses of any other entity are paid from the Fund account.
Who Can Join
Membership is private, by invitation or application. Eligible members include:
- Current participants in the Each One Teach One entrepreneurship program
- Graduates of the Each One Teach One program
- Graduates of the Second Chance Community Yard reentry program
- Individuals referred in writing by a member in good standing
Governance
- Governed by the Association Administrator and a three-member Loan Committee
- The Loan Committee approves all loan applications by majority vote (2 of 3)
- Committee members must recuse from any loan involving a family or business relationship
- An Annual Fund Report details capital, loans made, and repayment rate each January
- Records are maintained for a minimum of seven years
Apply for a Loan
If you're a Pioneer graduate or eligible member ready to launch or grow your business, tell us a little about it. The Loan Committee will review your interest and follow up with next steps and the full application.
Questions? Email secondchancegso@proton.me or call (910) 910-6446.
The Each One Teach One Entrepreneur Association operates as a program activity of Second Chance Community Yard Greensboro N.C. Ltd, founded by:
Ben Earl Junior Johnson
Founder & Visionary
Danyiell Nicole Wright Johnson
Co-Founder & Association Administrator