Organizations provide small business Matthew relief

Published 1:23 pm Wednesday, December 21, 2016

A program to provide short-term, interest-free loans to small businesses that experienced physical or economic damage during Hurricane Matthew and recovery efforts has been established by a group of small-business support organizations.

The organizations activated the North Carolina Small Business Emergency Bridge Loan Program in response to Hurricane Matthew.

Owners of small businesses with one to 100 employees located in the 52 counties affected by Hurricane Matthew can apply for loans for up to $15,000.

Applications may be submitted through March 15, 2017.

Loans are granted for terms of 90 or 180 days and are interest-free (0% APR) for that time period.

To be eligible, a business must have been established prior to October 4, 2016, and demonstrate economic or physical damage as a result of Hurricane Matthew.

For more information or to find a program office, visit www.sbtdc.org/hurricanematthew/ or www.ncruralcenter.org/hurricanematthew.

The Bridge Loan Program is a partnership of the N.C. Rural Economic Development Center, the Small Business and Technology Development Center (SBTDC) and the Community College Small Business Center Network.

The program has raised more than $3 million from funders including the Golden LEAF Foundation, N.C.’s Electric Cooperatives, BB&T, PNC and Wells Fargo.