COVID -19 Business Finances


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SBA and Federal Relief Packages Help Filling Out SBA Loan Local and State Government Funding Banks  Grants and Loans

SBA and Federal Relief Packages

The U.S. Small Business Administration (SBA) has extended and expanded assistance for small businesses impacted by COVID-19 This includes the Paycheck Protection Program (PPP), Economic Injury Disaster Loans and Loan Advance, SBA Debt Relief, and Employee Retention Credit. 

SBA North Carolina District, located in Charlotte, and its three satellite offices are responsible for the delivery of SBA programs in the state. Raleigh is represented by the SBA Triangle North Carolina Office – Raleigh and our representative is Patrick Rodriguez, SBA Senior Area Manager. His phone number is 919-532-5525. 

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Help Filling Out SBA Loan

The SBA loan process can be daunting. Fortunately, there are several local organizations equipped to assist business owners in completing the application.

Business Link North Carolina (BLNC)
Business Link North Carolina (BLNC) is a free service for small businesses in North Carolina. Working in partnership with the NC Department of Commerce, BLNC offers one-on-one phone consultations with small business owners.

Reach a BLNC business counselor Monday through Friday from 8 a.m. through 5 p.m., at 800-228-8443 or contact them online. All inquiries will receive a response from a confidential business counselor within three (3) business days.  “Se Habla Español.” 

SCORE
SCORE is comprised of active and retired business men and women and provides clients with free and confidential business counseling. Learn more

Small Business Center
Representatives for the Small Business Center are available to provide counseling to existing business owners and to those who want to start a business. The Small Business Center also provides free educational workshops that cover common topics of starting and growing a business.

Small Business & Technology Development Center (SBTDC)
SBTDC prepares businesses and helps them recover from disasters and is committed to providing businesses with guidance to help them manage during this crisis. Learn more

CAUTION: In unsettled times of crisis, it is not uncommon for business owners to encounter questionable SBA loan assistance offers from unfamiliar sources. Some offers can turn out to be expensive, and others outright fraudulent, including ID theft.  It would be prudent to at least check with one of the free resources listed above if you have any questions about any potential “offers,” especially if they seem too good to be true

Local and State Government Funding

We understand that many businesses are seeking financial support as the pandemic continues to impact revenue and operations. This section will be updated as additional funding resources become available.

Banks 

To support minority entrepreneurs and low-to-moderate income communities and individuals, NC Rural Center and Truist Bank announced a new $40 million nonprofit fund called CornerSquare Community Capital. All of the funding will be allocated to racially and ethnically diverse small business owners, women, and individuals in low- and moderate-income communities, with a focus on African American-owned small businesses.

North Carolina banks associated with SBA lending are listed can be found on the SBA website.

For traditional loans, many area banks are working with borrowers to provide flexible loan payment solutions. Please contact your bank for more information.

Grants and Loans

Department:
Economic Development and Innovation
Service Categories:
Small Business Support

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