CHARLOTTE – Mecklenburg County has created loan funds for qualifying small businesses and micro businesses that have been affected in recent weeks as a result of COVID-19.
Small Business Emergency Stabilization Loan Fund: The county has committed $5 million for the fund. Small businesses (up to 50 employees) in the county can apply for loans of $5,000 to $35,000 to cover daily operating expenses of the business. Loans will be available with up to 10-year terms at an interest rate of 3%.
Micro Business Stabilization Fund: The county has committed $1 million of Community Development Block Grant Funds to support micro businesses with up to five employees who have been negatively impacted by COVID-19. Funds are available to micro businesses in the CDBG program area which includes the towns (with the exception of Mint Hill and Charlotte) and the unincorporated areas of the county. Applicants will be eligible for loans in the amount of up to $10,000.
Visit www.MeckNC.gov for rules.