The Federal Stimulus package that includes COVID-19 Disaster Relief Funds administered by the Small Business Administration (SBA) allows small businesses across North Carolina to allow affected businesses to apply for low interest SBA disaster loans.
If your business wants to apply for this support, you need to be ready and the NC Small Business Technology and Development Center (SBTDC) is here to work with you on your application and the process. To do so, your business must sign-up as a client in their system.
You also must have the following in order and completed:
- Professional P&Ls and Balance Sheets.
- A one – two year business projection incorporating the impact COVID-19 has and will carry forward on your business.
Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov, but Sandra Dennison, Regional Center Director of the NC Small Business & Technology Development Center (SBTDC), recommends working through her office to expedite the process.
More about the NC Small Business & Technology Development Center (SBTDC)
The NC SBTDC has a long history of helping businesses prepare for and recover from disasters and has been identified as a “first responder” for business recovery in the state’s disaster recovery plan. Contact the SBTDC for assistance with:
- Assessing the financial impact on your business
- Reconstructing financial statements
- Preparing your SBA disaster loan application
- Exploring options with creditors
What it takes to qualify: Sign up as a client.
Overview: SBTDC is funded in partnership with the SBA and the University of North Carolina system, offering counseling/education for start-up and existing business. Clients are strategically focused and working on sustaining and growing their business.
Best way to arrange a first meeting: Sign up in the system or email Sandra Dennison to set up an in-person or virtual meeting.