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Business expenses in the following categories as a result of a need to expanded a business model to accommodate social distancing:
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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 nationwide to contain and minimize the spread of the Covid-19 virus pandemic.
Businesses receiving funding through this program must be based in Orange County, are encouraged to employ Orange County’s residents, and contribute to our community’s economy.
Small business applicants must be located within Orange County and in locations zoned appropriately for the intended business activity. Additional criteria include:
An evaluation committee composed of two representatives each from the Small Business Grant Committee, the Agricultural Grant Committee, and the Small Business Loan (SBL) Board and one representative from each of the three Towns (Carrboro, Chapel Hill and Hillsborough) will assist in the structure of the program. The Emergency Small Business Funding Committee (Committee) will be staffed by the County’s Chief Finance Officer and Director of Economic Development.
Orange County staff will service the grants, to include marketing the program, receiving all applications for review, disbursing funds to award recipients, providing administrative reports, and processing all associated documentation.
The Emergency Small Business Funding Program is funded by the Orange County Board of Commissioners which retains the right to amend the grant procedures as necessary to assist the broadest level of Orange County’s small businesses.
The Committee will compare revenue for April 2019 and April 2020.
Additional duties of the Committee shall include generally monitor the duties of the Program administration. These responsibilities will include:
Orange County is providing up to $250,000 in funding to support individual grants of approximately $3,000 per applicant for all finalist applicants to the Round #3 program. Final award amount will be determined based on the total number of eligible applications received.
The grant program has no application fee and no other costs to the grant recipient.
The reports referenced above should be PDF financial software system generated reports to the extent possible.
Up to $250,000 in funding is available for the Round #3 Emergency Small Business Funding Program.
[AG1]Number can be updated with the amount left from Round One.