Disaster Recovery Loans
Photo courtesy of Jody Johnson
The NC Small Business Recovery Fund provides low-interest loans to businesses affected by disasters such as Hurricane Matthew, the western wildfires, Tropical Storm Julia, and Tropical Storm Hermine. Loans of up to $250,000 are available at low-interest rates for terms of up to 10 years. Businesses may qualify for up to two years no interest and/or deferred payments on a case-by-case basis. The fund provides gap financing as a complement to Small Business Administration (SBA) and other disaster recovery programs. An SBA turndown does not disqualify applicants for these funds.
The Small Business Recovery Fund is a partnership of the Rural Center, the NC Small Business and Technology Development Center, and the NC Community Colleges Small Business Center Network. Funding for the program is provided by the Golden LEAF Foundation under the Disaster Recovery Act of 2016 passed by the NC General Assembly, along with additional support from BB&T and Wells Fargo. The Carolina Small Business Fund and NC Community Development Initiative also received grants from the Golden LEAF Foundation. For more information, download our factsheet.
Meet Our Borrowers
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