Mid-South Financial Services LLC filed Thursday to raise $3.5 million in debt and equity, according to a filing with the Securities and Exchange Commission.

The banking and financial services company filed a Form D signed by Stamey Taylor and James Burgin on Jan 5. Taylor is a former executive of Troy, North Carolina-based First Bancorp.

The company, incorporated in 2015, claimed a revenue range categorized from $1 to $1 million.

According to its website, Mid-South Financial Services is a community-based financial services provider that does commercial and consumer lending. The company makes loans to people and small companies who may not qualify under current bank guidelines.

This was a new notice in all equity with the first sale yet to occur. This offering is not intended to last more than one year.

The offering is not being made in connection with a business combination transaction, none of the money will go toward executive salary, and there minimum investment accepted from any outside investor is $50,000.

Mid-South Financial Services claimed a Rule 505 exemption. This provides exemption from registration requirements of the federal securities laws for companies when the offer and sell securities. The company can only offer and sell up to $5 million in securities in a 12-month period and can sell to an unlimited number of “accredited investors” and as many as 35 other people who do not fall into that category.