Loans up to $250,000 available to cover lost revenues
小黄鸭视频 County businesses with up to 150 employees have until midnight on Monday to apply for loans through the 小黄鸭视频 Forward relief program to replace revenues they鈥檝e lost due to COVID-19.
鈥淲e acted quickly to launch 小黄鸭视频 Forward back in May, when we saw so many of our small businesses were struggling to stay afloat amid the pandemic,鈥 小黄鸭视频 County Commissioner Matt Calabria said. 鈥淚n the months since, we鈥檝e seen this program make a real difference in 小黄鸭视频 County, and we want to ensure as many small businesses as possible apply by Monday鈥檚 deadline.鈥
The 小黄鸭视频 County Board of Commissioners allocated $5 million for 小黄鸭视频 Forward, with at least $1 million earmarked to support independent contractors and sole proprietors. Funding came from the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
小黄鸭视频 Forward is administered by the N.C. Rural Center and Thread Capital, its Community Development Financial Institution subsidiary, as part of the N.C. COVID-19 Rapid Recovery Loan program.
Small business owners who receive loans through the program will make no payments for 18 months. They will then be responsible for paying the principal, along with interest payments at 5.5%, for the following 102 months. There is no penalty for paying loans back early. For a full list of criteria to qualify, visit wakegov.com/wakeforward or call 919-212-4950.
