COVID 19 + REBUILDING GREENSBORO

FINANCIAL ASSISTANCE

• Business Link NC - Business Link North Carolina (BLNC) provides business owners with information and resources available from the State of North Carolina to assist their companies, from start-ups to major employers. 

• Candid  - Candid has created three dedicated websites for collecting and disseminating information on funding and support for nonprofits and small businesses.

• COVID19 Capital Relief - A comprehensive, searchable database that includes grants, loans, and other cash equivalents that can help entrepreneurs, nonprofits, and businesses anywhere in the world.

• Small Business Administration - Providing extensive support for small businesses and nonprofits impacted by COVID-19 through low interest loans and other funding programs. PPP and EIDL-Advance funds are dependent on federal appropriation. Check websites listed below for further details. 
  • SBA FAQ on PPP and PPP Loan Forgiveness Updated Aug 11
  • U.S. Department of Treasury Information on CARES Act Assistance to Small Businesses
  • Economic Injury Disaster Loan (EIDL) & EIDL Emergency Advance (EIDL-Advance)
  • SBA Express Bridge Loans
  • SBA Debt Relief
  • SBA Lender Match Tool- Lender Match is a free online tool that connects small businesses with SBA-approved CDFIs and small lenders. Do not use if looking for Disaster loans.

• Federal Resources for U.S. Small Businesses- The official federal resource website for U.S. small businesses affected by COVID-19 (Coronavirus). You can view relevant federal agency resources, access the latest news, and search for a Small Business Advisor near you.

• Federal Reserve Main Street Lending Program- The program is designed to help credit flow to small and medium-sized businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 crisis, but now need loans to help maintain their operations until they have recovered from, or adapted to, the impacts of the pandemic. The program offers 5-year loans, with floating rates, and principal and interest payments deferred as indicated. Main Street loans are not grants and cannot be forgiven.

• Guilford CARES Small Business Assistance Grant Program - The program will provide one-time grants of up to $10,000 to help offset the significant, temporary loss of revenue to qualified businesses during this pandemic and to assist businesses in retaining and paying employees. Awards will be made on a first come, first served basis. Incomplete applications will not be reviewed. In order to expedite issuance of funds applications will only be received using the online tool linked above.

• GoFundMe Small Business Relief Fund - Donations to the relief fund will be paid out as grants to businesses that qualify, and which businesses have created a fundraiser through the Small Business Relief Initiative or had an existing GoFundMe. To qualify for a matching grant from the Small Business Relief Fund, the GoFundMe fundraiser must raise at least $500 and verify that your small business has been negatively impacted by a government mandate due to the COVID-19 pandemic.  Each recipient of the matching grant must intend on using the funds to help care for your employees or pay ongoing business expenses.

• NC Commerce Mortgage, Utility and Rent Relief (MURR) Program - The N.C. Mortgage, Utility and Rent Relief (MURR), administered by the North Carolina Department of Commerce, can provide up to $20,000 in relief funds per qualifying business location. Business applicants from certain industry sectors that have not been able to operate during the COVID period may apply for up to two of their business locations. Applicants can apply for up to four months of mortgage interest or rent expenses, and utility expenses. The help offers relief for some of the fixed costs a business cannot easily control on its own. Applicants must certify that they were closed during the period April 1 through July 31, 2020; they expect to be able to operate after the COVID crisis has passed; and they have not been reimbursed by any other federal source for the expenses for which they seek reimbursement through this program. 

• NC Idea NC BEC ECOSYSTEM grant program ² - The NC BEC ECOSYSTEM grant program is designed to: Identify (and support) partners doing inspired things to serve the entrepreneurial aspirations and economic potential of North Carolina’s Black community; Encourage more organizations and individuals to support and participate in efforts to elevate Black entrepreneurship in North Carolina; Support and promote Black leadership of entrepreneurial support organizations. Better understand how we may (collectively) support more Black people in their ambition to start and build growth-oriented companies that will strengthen the economy of North Carolina; Provide a means for our organization to foster relationships, dialog and learning between all NC IDEA ECOSYSTEM and NC BEC ECOSYSTEM partners. ALL grant dollars must be allocated toward specific programs and activities serving the Black entrepreneurial community of North Carolina. Deadline Nov 2.

• NC Rapid Recovery supported by the Golden Leaf Foundation ³- The North Carolina COVID-19 Rapid Recovery Lending program supports North Carolina small businesses and family farms as they recover from the economic impact of COVID-19. The NC COVID-19 Rapid Recovery Loan Program now allows businesses to borrow up to $250,000 with no payments and 0.25 percent interest for the first 18 months, and includes a 102-month repayment term.

• Piedmont Business Capital & Guilford Merchants Association Small Business Relief Fund - Piedmont Business Capital (PBC) and the Guilford Merchants Association will collect data from businesses impacted by COVID-19 experiencing a decline in profitability and provide small-dollar relief loans to help support the Guilford County small business community. All businesses that are members of the Guilford Merchants Association GMA or are interested in becoming a member of GMA, including nonprofits, veterans organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors – with 500 or fewer employees can apply.