The Golden LEAF Foundation and the NC Rural Center have reactivated their disaster recovery loan program, which is now accepting applications from small business owners in Avery, Buncombe, Haywood, Madison, Transylvania, Watauga and Yancey counties.
Managed by the nonprofit of the rural center, Thread Capital, Disaster Recovery Loans (Resilient Recovery and Resilient Recovery Express) provide small businesses with low interest capital to help them in the aftermath of a natural disaster, including payroll, cleaning cost coverage and lost income replacement.
Small business owners can apply for disaster recovery loans at threadcap.org/disaster-recovery. In addition to completing an online application, business owners should be prepared to provide tax returns and a minimum of additional information.
“The Golden LEAF Foundation recognizes the vital role small business owners play in our state’s economy,” said Scott T. Hamilton, President and CEO of the Golden LEAF Foundation. “These businesses and the communities they serve have a better chance of surviving when we respond quickly to their needs following natural disasters.
Thread Capital’s disaster recovery loan programs meet the short- and long-term needs of small businesses affected by natural disasters. In the weeks following Hurricane Florence in 2018, Thread Capital made 71 disaster recovery loans in partnership with the Golden LEAF Foundation to affected businesses and helped retain more than 1,100 jobs.
“We’ve seen the physical damage hurricanes and tropical storms can cause to North Carolina, but the long-term economic impact is just as devastating,” said Jonathan Brereton, executive director of Thread Capital. “With the Resilient Recovery and Resilient Recovery Express loan products, we can ensure that small businesses have the resources they need to rebuild quickly and strategically after a natural disaster, which is critical to the future of the economy. of our state. “
To learn more about Thread Capital’s Disaster Recovery Loans and to apply for an eligible business, visit threadcap.org/disaster-recovery.