The below information is shared at https://ncrapidrecovery.org/. You can Apply for a NC COVID-19 Rapid Recovery Loan by visiting this site.
While there is still much we do not know about COVID-19’s long-term impact, there is one thing we are certain of: we are all in this together. We are learning how to adapt and evolve, together, day-by-day.
In response to the unique economic challenges of COVID-19, a consortium of public, private, and nonprofit partners have come together and launched an innovative recovery-lending program to help support entrepreneurs like you and stabilize North Carolina’s small business sector.
What is the NC COVID-19 Rapid Recovery Lending Program?
The North Carolina COVID-19 Rapid Recovery Lending program supports North Carolina small businesses and family farms as they recover from the economic impact of COVID-19. This rapid recovery loan helps small businesses bridge the gap between when crisis strikes and when federal loans, insurance payouts, and other relief funds are approved, or businesses have time to recover.
This is not a grant program.
NC COVID-19 Rapid Recovery loans are not designed to be a singular source of assistance for small businesses. Repayment is expected either from more permanent funding sources or from the future cash flow of the business.