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North Carolina allocates $15 million to help small businesses affected by Hurricane

The North Carolina Department of Commerce and nonprofit lenders is allocating $15 million in funding to help small businesses affected by Hurricane Matthew.  “The N.C. Community Development Block Grant Disaster Recovery Small Business Recovery Assistance Program launched last week with” the goal of connecting with small businesses to aid in operational costs.  According to Reflector, 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.”

The funding was made available by the Governor’s Recovery Office and the North Carolina Department of Commerce which “awarded $7.5 million to support small businesses still recovering from the storm that hit last October,” and private lenders which matched the $7.5 million from the government, creating a pool of $15 million in loans.  The funding opportunity will go towards “Matthew-affected areas, especially in Robeson, Cumberland, Edgecombe and Wayne counties.”

For more information on the program, please visit  http://www.reflector.com/News/2017/10/30/15-Million-Program-Available-to-Help-Small-Businesses-Affected-by-Hurricane-Matthew.html

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