North Carolina CDBG–DR Small Business
Disaster Recovery Assistance Program
The North Carolina Department of Commerce has awarded $7.5 million to support the recovery of small businesses located in areas impacted by Hurricane Matthew. The recovery funds are being administered by N.C. Commerce’s Rural Economic Development Division and are provided from Community Development Block Grant (CDBG) Disaster Recovery funds. Three non-profit, small business lending institutions have been awarded the money to expand access to credit for small businesses within Matthew-affected areas. Their contact information follows.
For inquiries about this program and referral to a participating lender, contact:
Business Link North Carolina (BLNC)
The Economic Development Partnership of North Carolina
Let the BLNC representative know that you are calling about the Small Business Disaster Recovery Assistance Program, and you will be referred to the lender that best fits your needs.
To inquire about this program directly with a participating lender, contact any of the listed representatives below.
- Carolina Small Business Development Fund
(919) 803-1437 x 403
- Center for Community Self-Help
- North Carolina Community Development Initiative, Inc.
To be an eligible borrower in this program, a business must meet these criteria:
- Meet the standards of a small business as defined in Title 13, Code of Federal Regulations, Part 121 (13 CFR part 121).
- Require funds to recover from Hurricane Matthew-caused damage, especially flooding.
- Have no other source of funds for their unmet needs to meet Matthew recovery costs.
- Have their primary place of business located in Matthew-caused flood-affected areas of North Carolina, especially the counties of Robeson, Cumberland, Edgecombe, and Wayne.
Eligible Uses of Funds
- Financing for payment of interior and exterior repairs and property improvements.
- Financing for furniture, fixtures, and equipment, purchase and installation of equipment.
- Using grant or loan financing to pay for working capital or to pay for marketing costs, operating expenses, and inventory.
- Funds for relocations of any displaced persons due to the CDBG project.