Rapid Recovery Loan Program
go.ncsu.edu/readext?739222
en Español / em Português
El inglés es el idioma de control de esta página. En la medida en que haya algún conflicto entre la traducción al inglés y la traducción, el inglés prevalece.
Al hacer clic en el enlace de traducción se activa un servicio de traducción gratuito para convertir la página al español. Al igual que con cualquier traducción por Internet, la conversión no es sensible al contexto y puede que no traduzca el texto en su significado original. NC State Extension no garantiza la exactitud del texto traducido. Por favor, tenga en cuenta que algunas aplicaciones y/o servicios pueden no funcionar como se espera cuando se traducen.
Português
Inglês é o idioma de controle desta página. Na medida que haja algum conflito entre o texto original em Inglês e a tradução, o Inglês prevalece.
Ao clicar no link de tradução, um serviço gratuito de tradução será ativado para converter a página para o Português. Como em qualquer tradução pela internet, a conversão não é sensivel ao contexto e pode não ocorrer a tradução para o significado orginal. O serviço de Extensão da Carolina do Norte (NC State Extension) não garante a exatidão do texto traduzido. Por favor, observe que algumas funções ou serviços podem não funcionar como esperado após a tradução.
English
English is the controlling language of this page. To the extent there is any conflict between the English text and the translation, English controls.
Clicking on the translation link activates a free translation service to convert the page to Spanish. As with any Internet translation, the conversion is not context-sensitive and may not translate the text to its original meaning. NC State Extension does not guarantee the accuracy of the translated text. Please note that some applications and/or services may not function as expected when translated.
Collapse ▲NC Rural Center continues to support our state’s small businesses and family farms in the wake of the COVID-19 pandemic through the NC COVID-19 Rapid Recovery Loan Program.
The NC COVID-19 Rapid Recovery Loan Program now allows businesses to borrow up to $250,000 with no payments and 0.25 percent interest for the first 18 months. The loan’s terms have also changed from a 60-month repayment term to a 102-month repayment term. We are urging small businesses and family farms in need of assistance to consider applying for this program to sustain or adapt their business to the realities of the pandemic.
The application can be found on the NC Rapid Recovery website. Applicants can contact ncrapidrecovery@threadcap.org to request help with completing their loan application.
The application deadline for this program is October 15, 2020.
To-date, the loan program has administered more than 1,000 Rapid Recovery loans, totaling more than $37 million. Currently, 64 percent of the approved NC COVID-19 Rapid Recovery loans are to historically underutilized businesses (HUB), which are primarily women- and minority-owned businesses. According to the U.S. Census Bureau, about 31 percent of employer businesses in North Carolina meet the HUB definition. Additionally, of the loans made, approximately 77 percent have been to businesses with fewer than 10 employees.
For information about eligibility, loan terms, and necessary documentation, visit the NC Rapid Recovery FAQs page.