Connecting WNC small businesses to rapid recovery loans and more
The coronavirus crisis is causing big problems for Western North Carolina’s small businesses. Mountain BizWorks and its partners are taking steps to ensure business owners and entrepreneurs have the resources they need to get through this crisis and prepare for economic recovery.
Mortgage, Utility, and Rent Relief (MURR) Grants via NC Commerce (UPDATE: CLOSED AND NOT ACCEPTING APPLICATIONS AS OF 11/12/2020 AT 5:30PM. )
If your business has experienced extraordinary business disruption and not been able to open due to the COVID-19 coronavirus pandemic, the new Mortgage, Utility and Rent Relief (MURR) Grant Program administered by the NC Department of Commerce may be able to offer assistance with some of your fixed costs.
RETOOLNC HUB Small Business Impact Grants
The Purpose of RETOOLNC is to help address the challenges that certified NC HUBs and Disadvantaged Business Enterprise (DBE) firms are facing as they to recover from the pandemic. This program is administered by the Office for Historically Underutilized Businesses.
Speak With Our Support Specialist »
Madison County Small Business Loan Fund
Madison County, Madison County Chamber of Commerce, Mountain BizWorks, and other local supporters have established the Madison County Small Business Loan Fund, which aims to provide rapid financial assistance to Madison County-based businesses that have been impacted by COVID-19.
Haywood Recovery Fund
Haywood County, Mountain BizWorks, and their partners have established the Haywood Recovery Fund, which aims to provide rapid financial assistance to Haywood County-based businesses that have been impacted by COVID-19.
Shelby1Fund
The City of Shelby, Mountain BizWorks, and their partners have established the Shelby1Fund, which aims to provide rapid financial assistance to small businesses within the Shelby city limits that have been impacted by COVID-19.
All In Jackson Fund
Jackson County, Mountain BizWorks, and their partners have established the All In Jackson Fund, which aims to provide rapid financial assistance to Jackson County-based businesses that have been impacted by COVID-19.
Transylvania Emergency Bridge Loan Program
Transylvania County, Mountain BizWorks, and their partners have established the Transylvania Emergency Bridge Loan Program to provide rapid financial assistance to Transylvania County-based businesses and nonprofits that have been impacted by COVID-19.
Re-energize Watauga Fund
Watauga County, Boone Area Chamber of Commerce, Mountain BizWorks, and their partners have established the Re-energize Watauga Fund to provide rapid financial assistance to Watauga County-based small businesses that have been impacted by COVID-19.
Reopening Macon Fund
Macon County, Mountain BizWorks, and their partners have established the Reopening Macon Fund, which aims to provide rapid financial assistance to Macon County-based businesses that have been impacted by COVID-19.
SBA Economic Injury Disaster Loans
The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of COVID-19. Small business owners in all U.S. states and territories are currently eligible to apply.
Apply Directly to SBA Online »
The following programs are now closed to new applications
NC Rapid Recovery Loans: apply by 10/15
Mountain BizWorks along with a consortium of public, private, and nonprofit partners are offering a vital COVID-19 resource – the NC Rapid Recovery Lending Program. This program aims to stabilize NC’s small business sector and help business make critical adaptation adjustments. Recovery loans up to $250,000 with a 10 year term and no payments due for 18 months.
One Buncombe Fund
Buncombe County, Mountain BizWorks, and their partners have launched the One Buncombe Fund – a centralized COVID-19 donation and relief center providing basic needs for unemployed individuals and bridge funding for small businesses. The program aims to provide a rapid source of assistance for Buncombe County-based businesses that have been impacted by COVID-19.
Buncombe County Tourism Jobs Recovery Fund
Full program details for this fund are currently being finalized and will be posted shortly. We expect online applications will be accepted starting Friday May 15 and will be due by May 31. Awards will be announced in mid-June. We will be updating the Fund page as soon as more information is available, including grant application guidelines, informational webinars about the program, and FAQs, and you can sign up for email alerts to be notified as soon as updates are posted (including when the application window opens.)
SBA Paycheck Protection Program
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. Mountain BizWorks is no longer accepting PPP applications but many other lenders nationally are. Continue for details on the program to learn how to apply.
Have Questions or Need Help?
We understand navigating the available COVID-19 response resources can be challenging. If you have additional questions or would like to join a group coaching call or speak to one of our Disaster Recovery Funding Specialists, please visit our COVID-19 Funding Help Center.