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MOCKSVILLE, N.C. — October 20, 2026 — Renaissance Fiber has secured $2.239 million in combined financing to complete and operate its first commercial-scale hemp fiber processing facility in Mocksville, North Carolina.
The package includes $2 million in SBA-backed financing, a $100,000 low-interest loan from the Fibers Fund, and a $139,000 zero-interest recoverable loan from Invest Appalachia.
The financing moves Renaissance Fiber from years of research and development into commercial production. It provides capital for manufacturing infrastructure, raw material purchases, inventory, and the company’s transition to full-scale operations.
“Getting from a proven process to a working factory is one of the most challenging steps in advanced materials manufacturing,” said Daniel Yohannes, founder and CEO of Renaissance Fiber. “This financing gives us the infrastructure and working capital to process American-grown hemp at commercial scale, using the textile manufacturing base that already exists in North Carolina and across the US.”
Catalytic capital unlocks commercial financing
The Fibers Fund and Invest Appalachia announced their support for Renaissance Fiber in April 2026. Their early commitments helped the company obtain a larger SBA-backed financing package, demonstrating how flexible, first-in capital can unlock conventional financing for manufacturing companies operating in emerging markets.
The $2 million bank package comprises a $1.5 million term loan and $500,000 in revolving credit through the Small Business Administration’s 7(a) Manufacturers Access to Revolving Credit program (MARC), which was recently expanded.
“The Fibers Fund is delighted to support Renaissance Fiber with this new loan,” said Sarah Kelley, Managing Director of the Fibers Fund. “Over the course of our work with them, we’ve been continually impressed by their determination and commitment to community. Renaissance was facing a textbook example of the Commitment Catch-22 we identified when launching the Fibers Fund: buyers seek scaled production before committing to contracts, but textile businesses can’t scale production without capital. Renaissance has the technology, the farmer relationships, and the market interest, and they needed first-in capital that understood their sector and region. We’re proud to provide the catalytic capital to bridge that gap, and we’re especially proud to partner with Invest Appalachia, whose collaborative spirit and exceptional team have made this a truly integrated capital deal.”
“Renaissance Fiber is proving that the transition to a sustainable regional economy can be built on the strength of our own agricultural heritage,” said Andrew Crosson, CEO of Invest Appalachia. “While traditional commercial finance often overlooks the economic potential of domestic textiles, we recognize North Carolina’s rich textile history and see a team with the technical pedigree to
