Small Business Recovery Program
In the wake of Hurricane Matthew, the Rural Center recognized the need to help economies regain and recover, and chart a course for their own future in the aftermath of a natural disaster. Seven North Carolina communities, Fair Bluff, Kinston, Lumberton, Pembroke, Princeville, Roseboro, and Whiteville participated in the Small Business Recovery Program, a program providing long-term planning and technical assistance to each town after experiencing the devastating effects of Hurricane Matthew. The program also provides a locally administered loan fund to promote entrepreneurship and small business development in each community.
Photo courtesy of Jere Snyder
Each participating community received an initial $100,000 investment in their local loan funds. Additional resources are available to increase funds to nearly $300,000 to meet the local demand for small business loans. For more information, read the official press release here.