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The Town of Carrboro is pleased to announce that twelve local businesses have been approved for funds from the Emergency Loan and Grant Fund, created to assist Carrboro-based businesses and non-profits that serve Carrboro. The town’s finance team will begin distributing checks this week.
On March 24, the Town Council approved the Emergency Loan and Grant Fund. The loans will assist local businesses with short-term payroll during the State/Town-declared COVID 19 Emergency in order to maintain employees. The fund is intended to assist small local businesses and non-profits that are in current good standing with creditors, but are low on capital to retain employees.
The Town is pleased to announce the following businesses have been either fully or conditionally approved:
- Grow Your World
- Firefly Carrboro
- Art In a Pickle/Neal’s Deli
- Craftboro Brewing Depot
- O & E Enterprises Inc.
- Open Eye Cafe
- Ceremony Salon
- Carrboro Coffee Company
- Weaver Street Realty
- Van Hook/Willow Creek Laundromat
- F & F Car Care
- Dispute Settlement Center
The Covid-19 Loan/Grant Review Committee made these decisions without having been told the identity of any applicant. There also was agreement among the committee members for a 7-year repayment term, and a resolution asking the Town Council to authorize a second round of loans (of the combined $475,000 that was available, roughly $235,000 remains).
The Town of Carrboro would like to thank the Committee members for their hard work and commitment to our business community: Betsy Elbogen, David Jesse, Elmira Mangum, Eliazar Posada, Anna Richards, Vijay Sivaraman, Stephen Winters, and Town Council Members Barbara Foushee and Randee Haven-O’Donnell.
There are five federal funding streams still available to help businesses right now. These resources and more are found on the Chapel Hill-Carrboro Chamber of Commerce’s COVID-19 Resource Page.