NEW! $5,000 Grants through US Chamber Foundation for businesses with 3-20 employees - Applications available starting April 20! Click this link to learn more.
Thread Capital was launched in 2018 by the NC Rural Center and continues to be an operating subsidiary of the Center to handle business loans.
Carolina Small Business Development Fund (formerly The Support Center) – (919) 803-1437
Loan Products: https://carolinasmallbusiness.org/loans/loan-products/
Kerr-Tar Regional Council of Governments Revolving Loan Programs (Franklin, Person, Vance & Warren counties)
Upper Coastal Plain Council of Governments Revolving Loan Programs (Edgecome, Halifax, Nash, Northampton & Wilson counties)
UNEMPLOYMENT INSURANCE - As an employer you may be eligible for Disaster Unemployment Assistance (DUA). DUA is a federal program that provides temporary payments to people in a federally declared disaster area whose employment has been lost or interrupted as a direct result of the disaster. Business owners that are self-employed, a farmer, or a commercial fisherman, who is unemployed as a direct result of the disaster may be eligible. For more information go to NC - https://des.nc.gov/ or VA - http://www.vec.virginia.gov/ or call NC - 888-737-0259 or VA - 866-832-2363.
Federal Unemployment Insurance Assistance Programs
The federal CARES Act provides for three temporary unemployment compensation programs due to COVID-19:
• Federal Pandemic Unemployment Compensation
• Pandemic Emergency Unemployment Compensation
• Pandemic Unemployment Assistance
The Division of Employment Security is awaiting guidance from the U.S. Department of Labor to implement these programs. Once we receive the final guidance, benefits should start being paid in about two weeks. Anyone who filed a claim due to COVID-19 before this legislation may still be eligible for these benefits. If any benefits are owed for a week previously claimed, payment will be made retroactively.
ARTICLES & Informative Links
US Small Business Administration
Other important resources
Click here for broadband resources NCDIT identified to help with remote work or remote education assignments.
NC & VA Executive Orders for Stay at Home
Additional NC & VA Executive Orders
NC Department of Revenue
Ideas to keep your business strong through Coronavirus (COVID-19) crisis
Let the community know the status of your business and how you are doing business during this time. Email your post link or graphic with post copy to your local Chamber, Economic Development Commission, and the Small Business Center so that they can post to their pages or email it to others.
Things businesses can do during this time of crisis
- Communicate with your customers - Call, email, social media posts to let them know of status and how you are doing business during this time. Ask them to share this with others.
- Consider ideas such as call-ahead (or online order, or via email), pick-up services, delivery, take out, gift cards, reschedule vs. cancel, pre-payment of future services (deposit, subscription, membership), online orders, virtual services (consulting, training, problem-solving), etc.
- Brainstorm and collaborate with fellow small business owners to help each other with ideas and to each other's increase visibility.
- Focus on purchasing local produce/meats to sustain local farmers and help with social distancing.
Things customers can do to support local businesses
- Buy now to enjoy later. Much like produce, you can also get carry-out meals to enjoy in the comfort of your home, whether you eat it while it's still hot or freeze it for later.
- Consider delivery from local stores where available.
- Buy gift cards. Purchasing a gift card to use at another time helps local businesses, as well by putting cash in their hands to use now.
- Load up on entertainment on your devices and pull out the old board games to help distract your family and escape for a while.