COVID-19 Rapid Recovery Financing Options

The coronavirus crisis is causing big problems for Western North Carolina’s small businesses.

Mountain BizWorks and its partners are taking steps to ensure business owners and entrepreneurs have the resources they need to get through this crisis and prepare for economic recovery.

North Carolina COVID-19 Rapid Recovery Loans

Mountain BizWorks along with a consortium of public, private, and nonprofit partners have come together to launch an innovative recovery resource – the NC COVID-19 Rapid Recovery Lending Program. This program aims to stabilize North Carolina’s small business sector and support all entrepreneurs as they learn how to adapt to the challenges created by COVID-19.

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Buncombe County Tourism Jobs Recovery Fund

Full program details for this fund are currently being finalized and will be posted shortly. We expect online applications will be accepted starting Friday May 15 and will be due by May 31. Awards will be announced in mid-June. We will be updating the Fund page as soon as more information is available, including grant application guidelines, informational webinars about the program, and FAQs, and you can sign up for email alerts to be notified as soon as updates are posted (including when the application window opens.)

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Haywood Recovery Fund

Haywood County, Mountain BizWorks, and their partners have established the Haywood Recovery Fund, which aims to provide rapid financial assistance to Haywood County-based businesses that have been impacted by COVID-19.

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Shelby1Fund

The City of Shelby, Mountain BizWorks, and their partners have established the Shelby1Fund, which aims to provide rapid financial assistance to small businesses within the Shelby city limits that have been impacted by COVID-19.

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All In Jackson Fund

Jackson County, Mountain BizWorks, and their partners have established the All In Jackson Fund, which aims to provide rapid financial assistance to Jackson County-based businesses that have been impacted by COVID-19.

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Transylvania Emergency Bridge Loan Program

Transylvania County, Mountain BizWorks, and their partners have established the Transylvania Emergency Bridge Loan Program to provide rapid financial assistance to Transylvania County-based businesses and nonprofits that have been impacted by COVID-19.

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Re-energize Watauga Fund

Watauga County, Boone Area Chamber of Commerce, Mountain BizWorks, and their partners have established the Re-energize Watauga Fund to provide rapid financial assistance to Watauga County-based small businesses that have been impacted by COVID-19.

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One Buncombe Fund

On May 26, applications for the One Buncombe Fund reopened as additional funds became available for the program.

Buncombe County, Mountain BizWorks, and their partners have launched the One Buncombe Fund – a centralized COVID-19 donation and relief center providing basic needs for unemployed individuals and bridge funding for small businesses. The program aims to provide a rapid source of assistance for Buncombe County-based businesses that have been impacted by COVID-19.

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SBA Paycheck Protection Program

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. Mountain BizWorks is no longer accepting PPP applications but many other lenders nationally are. Continue for details on the program to learn how to apply.

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SBA Economic Injury Disaster Loans

The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of COVID-19. Small business owners in all U.S. states and territories are currently eligible to apply.

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Have Questions or Need Help?

We understand navigating the available COVID-19 response resources can be challenging. If you have additional questions or would like to join a group coaching call or speak to one of our Disaster Recovery Funding Specialists, please visit our COVID-19 Funding Help Center.

COVID-19 Funding Help Center »