Announcement from Mountain BizWorks:
Mountain BizWorks is a proud to be a participating lender in the North Carolina Rapid Recovery program which supports NC small businesses and family farms as they recover from the economic impact of COVID-19. Rapid Recovery loans are a vital source of flexible and low cost disaster loan funding to help our small businesses be resilient and adaptive in the face of the COVID-19 crisis. More than $35 million in Rapid Recovery relief loans have been provided statewide to date.
Loans are available for up to $250,000 with a 10 year loan term and 18 months of no payments at 0.25% interest, followed by 102 months of principal and interest payments at 5.5% interest, with no prepayment penalty.
This program is available for all North Carolina small businesses affected by COVID-19 who have at least one employee (including sole proprietors), that began operations before March 23, 2020.
These loans are subject to availability of funds so it is important to apply as soon as possible!
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