The Mecklenburg County Office of Economic Development has announced that there are still Funds available through the COVID-19 Small Business Stabilization Loan Fund.
The County and its loan partner, Carolina Small Business Development Fund (CSBDF) will continue to accept applications from small businesses (up to 50 employees) located in the Mecklenburg County for loans of $ 5,000 – $ 35,000 with terms of up to 10 years at an interest rate of 3%. Applications will be processed in the order they are received.
CSBDF has indicated that few funds are remaining available for this program, which is why they called on small groups of entrepreneurs to process applications as they arrive.
The funds can be used to cover day-to-day business operating expenses, such as payroll costs, rentals, routine payments for real estate and equipment financing, utilities, or losses due to destabilizing events.
Applicants must provide:
- Complete loan application (online)
- Statement describing how COVID-19 has negatively impacted the business.
- Copy of the driver’s license or other identification of the country of origin that is not expired
- Copy of the lease or mortgage statement from where the business operates.
- Tax returns (business) 2018
- Tax returns (personal) 2018
- Profit and loss sheet 2019 and balance sheet 2019
The program will consider alternative forms of documentation to supplement the standard underwriting requirements.
If you are interested in applying for this loan, please send an email to [email protected] asking for the link for the online loan application. Be sure to include your full name, your business name, address, and cell phone number.