Emergency Small Business Funding Program-COVID-19
The purpose of the Orange County Emergency Small Business Funding Program is to assist Orange County-based small businesses that are experiencing financial difficulties such as mandated shutdowns, employee layoffs, and operating losses as a result of ongoing efforts at the Federal, State and local authorities to contain and minimize the spread of the COVID-19 pandemic.
The application will be available at noon on Friday, June 5, and will remain open through 11:59 p.m. on Wednesday, June 17. Applicants will be asked to submit supplemental materials through a secure website. These materials must be received by 11:59 p.m. on Sunday, June 21, for the application to be considered.
Businesses who have already received COVID-19 related financial assistance from either the state, federal or local governments are not eligible to apply for this round of funding. Examples of these types of programs include Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), Small Business Administration (SBA) Loan, Carrboro Small Business and Non-Profit Emergency Loan/Grant Fund. This doesn’t include personal loans or personal stimulus funds received.
For additional questions regarding the program and/or process, please see the Emergency Small Business Funding Frequently Asked Questions (FAQ).
General Terms and Conditions
- Open to Orange County, N.C., based for-profit businesses.
- Minimum of one-year in operation and hold applicable 2019 business privilege licenses.
- Ineligible businesses include, but not limited to, companies involved in real estate investment, multi-level marketing, adult entertainment, or firearms. Companies with outstanding local tax liabilities or tax liens as of June 26, 2020, or currently in bankruptcy (Corporate or Personal) are not eligible. Companies that have a past due balance as of June 26th, 2020 with the Orange County Small Business Loan Program are also ineligible.
- Profit and Loss statement indicating profitability prior to coronavirus pandemic
- Maximum grant of $5,000 per small business with no repayment required.
Information Required as Attachments
- Financial documents for April 2019 and April 2020 demonstrating revenue decrease due to COVID-19.
- Financial documents can include: point-of-sales reports, bank statements, quarterly sales tax fillings, 2019 tax returns, or CPA-certified profit & loss statements
- Copy of front and back of North Carolina driver’s license or government-issued ID.
Eligible Uses of Funds
Each of the eligible uses of funds below will be evaluated in the context of being necessary for businesses to provide services in a different manner due to “social distancing” requirements or mandated closures caused by COVID-19
- Fund working capital or operational funds to retain employees during the COVID-19 pandemic
- Purchase equipment, commercial-use vehicles, or machinery for the business
- Improve owner-occupied commercial property; owner must occupy 50% or more of total space
- Sustain or expand business services or products
- Retain or expand workforce development and job creation
- Fund tenant up-fit and lease-hold improvements to the business