Businesses can apply for additional recovery assistance
By From staff reports
Published in News on October 31, 2017 5:50 AM
RALEIGH -- Gov. Roy Cooper is encouraging small businesses affected by Hurricane Matthew to apply now for financing through a $15 million program from the North Carolina Department of Commerce and nonprofit lenders.
The N.C. Community Development Block Grant Disaster Recovery Small Business Recovery Assistance Program launched this week with a website and application information.
The Governor's Recovery Office and the North Carolina Department of Commerce awarded $7.5 million to support small businesses still recovering from the storm that hit last October.
The funds will be matched by private lenders to provide at least $15 million in loans available to small businesses in Matthew-affected areas, especially in Robeson, Cumberland, Edgecombe and Wayne counties.
Funds can be used to make repairs and property improvements; purchase and install equipment, furniture and fixtures; cover working capital or pay for marketing, operating costs and inventory; and/or relocate people displaced if the small business moves into or replaces a residence.
"When Hurricane Matthew hit, small business owners lost store fronts, equipment, furniture and revenue, and many aren't yet able to reopen," Cooper said. "Small business owners can use these funds to fix damage, replace equipment, and get their business up and running again."
The following lending institutions are providing small business loans through the program:
* Carolina Small Business Development Fund, Roxanne Bailey-Reed, 919-903-1437, ext. 403, rreed@carolinasmallbusiness.org; or Greg Taylor, 910-759-7709, ext. 401, gtaylor@carolinasmallbusiness.org.
* Center for Community Self Help, Jessie Maxwell, 919-956-4684, Jessie.maxwell@self-help.org.
* North Carolina Community Development Initiative Inc., Tara Campbell, 919-835-6002, tcampbell@ncinitiative.org.
For general questions or specific inquiries about application, contact any representative.
For inquiries about the program and a referral to a participating lender, contact Business Link North Carolina at the Economic Development Partnership of N.C. by calling 800-228-8443.
To review eligibility requirements and more information about the program, visit the program website, www.nccommerce.com/rd/state-
cdbg/disaster-recovery-
program/small-business-recovery.