Bridge Loans Available for NC Small Businesses Affected by Hurricane Matthew

Date: October 27, 2016 Last Edit: November 01, 2016

 
 
 

Officials have announced the North Carolina Small Business Emergency Bridge Loan Program in response to Hurricane Matthew. The program will provide short-term, interest-free loans to small businesses that experienced physical or economic damage during the storm and recovery efforts.

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

Owners of small businesses with 1 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 Dec. 9, 2016. 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 Oct. 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/. To apply, visit www.ncruralcenter.org/hurricanematthew. For questions or assistance, call the SBTDC at (919) 715-7272.

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