Carolina Small Business Development Fund Receives $1 Million Golden LEAF Foundation Grant

RALEIGH, N.C. -- Golden LEAF Foundation grants Carolina Small Business Development Fund $1 million in funds to provide short-term, interest free emergency bridge loans to small businesses and farms recovering from damages suffered during Hurricane Matthew. Golden LEAF funds will be used for loan capital and operating support.




Carolina Small Business will provide loan funds to small businesses in North Carolina to address immediate needs of small businesses affected by Hurricane Matthew. Funds will be allocated to businesses, including without limitation farm businesses, in the North Carolina counties that have been declared by the federal government to be a disaster area as a result of Hurricane Matthew and to those businesses that are suffering economic distress.

Small businesses with 1 to 100 employees located in the 52 counties affected by Hurricane Matthew can apply for loans for up to $15,000. Applications may be submitted through December 12, 2016. Loans are granted for terms of 90 or 180 days and are interest-free (0% APR) for that time period. To be eligible, a business must have been established prior to October 4, 2016, and demonstrate economic or physical damage as a result of Hurricane Matthew.

“The effects of Hurricane Matthew across communities in North Carolina have been overwhelming. We are more than pleased to provide immediate assistance and the necessary funds that small businesses need to recover,” said Lenwood V. Long, Sr., President/CEO of Carolina Small Business. “We are passionate about helping small businesses overcome any barriers that they are facing, whether they need a loan or technical assistance to scale their business. We welcome small businesses across the state and will be glad to help them in any way we can.”

Golden LEAF’s mission is to increase economic opportunity in North Carolina’s rural and tobacco-dependent communities through leadership in grants making, collaboration, innovation, and stewardship as an independent and perpetual organization.

Carolina Small Business also offers a directory and resources of local support organizations that can help, which can be found here: https://carolinasmallbusiness.org/2016/10/hurricane-matthew/. In addition, feel free to contact us at services@carolinasmallbusiness.org.

To apply, please visit https://carolinasmallbusiness.org/loans.

About Carolina Small Business Development Fund
Carolina Small Business Development Fund provides small business loans and business services to start-ups and existing businesses in North Carolina. As a statewide nonprofit Community Development Financial Institution (CDFI), Carolina Small Business is passionate about supporting small businesses in underserved areas. Since 2010, Carolina Small Business has invested more than $32 million through 449 loans to small businesses across North Carolina helping to create or retain more than 1,018 jobs. For more information, visit www.carolinasmallbusiness.org.

Golden LEAF Foundation
Golden LEAF’s mission is to increase economic opportunity in North Carolina’s rural and tobacco-dependent communities through leadership in grants making, collaboration, innovation, and stewardship as an independent and perpetual organization. The Foundation awards grants to 501(c) (3) nonprofits and governmental entities across North Carolina. Golden LEAF's grants making focuses on three priorities: agriculture, job creation and retention, and workforce preparedness. Projects that focus on other opportunities to support and develop economic strength in tobacco-dependent, economically distressed, and/or rural communities continue to be welcomed.
www.goldenleaf.org

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