As the coronavirus pandemic unfolds further, we would like to take a moment to recognize the impact this public health crisis has on all of us – both socially and economically. Thank you for continuing to work hard to serve and support our community members and businesses in these trying times.

In addition to the federal efforts to help Americans and businesses survive the crisis, like the Small Business Administration loan and debt relief options, local governments and the private sector have ramped up efforts to help the local economy survive. Thanks to these (local) efforts, businesses will have the opportunity to apply for capital to help with immediate costs. Some examples are listed here.

• Verizon and LISC are offering grants to address immediate financial impacts for small businesses – There are several rounds for applications, starting again mid-April. Check it out here.
• The Golden LEAF Foundation approved $15 million in loans to NC businesses with immediate capital needs. Read more here.
• Foundation for the Carolinas & United Way of Central Carolinas: COVID-19 Response Fund (for nonprofits). LendingTree and City of Charlotte committed combined $2 million to the fund. Read more about the public-private partnership here.
• Several Gaston County community organizations (United Way of Gaston County, Gaston Community Foundation, Duke Energy, City of Gastonia & Gaston Business Task Force) established the Gaston County Virus Relief Fund, which will address Gaston County residents’ needs through the work of local nonprofit organizations.
• The City of Lincolnton is offering $300,000 in emergency loans to small businesses within the Lincolnton corporate limits, aimed to assist with business operating expenses. Read more here.
• Mecklenburg County is collaborating with the Carolina Small Business Development Fund and established a Small Business Emergency Stabilization Loan Fund and a Micro Business Stabilization Fund. The County also established a Micro Business Stabilization Fund. Learn more here.

Highlight

CASE at Duke created an online database to search capital sources for those entrepreneurs at risk due to the coronavirus. Check out the app here. Search for “North Carolina” in the search bar (top right) for local/regional resources. One can also apply for global or national grant/loan options.

For more resources throughout the region, check this Centralina information page.