The Town of Carrboro is pleased to announce that 10 small businesses and non-profits will receive a total of $187,500 from a second round of funding to ease the economic impact of COVID-19.
“Now more than ever, local businesses need our support,” said Town Manager David Andrews. “Even as they slowly reopen, the coronavirus crisis has dealt a serious blow to small businesses. This relief is one way to help preserve the local character of our community.”
The purpose of the Carrboro Emergency Loan and Grant Fund is to assist Carrboro based businesses and non-profits that serve Carrboro with short term payroll and other recurring expenses. The following businesses have been approved this cycle:
The Town Council approved the Carrboro Emergency Loan and Grant Fund on March 24 to assist local businesses with zero-interest loans of up to $25,000.
Since its creation, the Town has allocated more than $398,300. The Town announced on April 15 its first round of funds to 11 small businesses and non-profits.
For this second application period, the COVID-19 Loan/Grant Review Committee reviewed 21 applicants. Each business was assigned a random number to ensure a confidential and non-biased process for the review committee. There is $76,700 remaining in the fund.
The Town of Carrboro thanks the committee members for their commitment to serving our local business community: Betsey Elbogen, David Jesse, Elmira Mangum, Eliazar Posada, Anna Richards, Vijay Sivaraman, Stephen Winters and Carrboro Mayor Pro Tem Barbara Foushee and Town Council Member Randee Haven-O’Donnell.
Various agency funding streams are available to support businesses during this unprecedented time. Find out more on the Chapel Hill-Carrboro Chamber of Commerce COVID-19 Resource Page.