Governor Roy Cooper has issued Executive Order 131, which is a statewide restriction on occupancy limits in retail and "big box" stores all across NC. Scroll to Page 5 of the document below to see how these rules will effect you. This order builds on Executive Order 121, Stay at Home Order that began Monday, March 30 at 5 p.m. and lasts until April 29, 2020.
Please carefully review the Order and the FAQs to determine the impact to your job or business.
Click the below links on information about the COVID-19 Relief Efforts
Here's what's now closed:
Here's what businesses and employees are still permitted to work:
Here's what any business owner or employee are permitted to do whether deemed essential or not:
Is your business considered an Essential Industry?
NEW Protocol for Essential Business:
Federal Coronavirus Aid Package - Business Resources
Congress has passed a $2 Trillion Federal Coronavirus Aid Package that orders significant financial, tax and social tools be expanded and offered to businesses and employees throughout the country. Here are some of the highlights of the stimulus package for businesses:
ASSISTANCE FOR AMERICAN WORKERS AND FAMILIES
In the weeks immediately after the passage of the CARES Act, Americans will see fast and direct relief in the form of Economic Impact Payments. For more information, CLICK HERE.
ASSISTANCE FOR SMALL BUSINESSES
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
For a top-line overview of the program CLICK HERE
If you’re a lender, more information can be found HERE
If you’re a borrower, more information can be found HERE
The application for borrowers can be found HERE
Main Street Lending Program
U.S.-based businesses and nonprofits with 10,000 employees or less, or those with $2.5 billion or less in revenue last year, will be able to refinance existing loans or obtain new unsecured loans through a $600 billion program designed by the Federal Reserve and Treasury Department. Loans will be provided through banks and credit unions, with a minimum loan size of $1 million, a repayment period of 4 years, interest rates ranging from 2.5 – 4.5%, and amortization of principle and interest deferred for the first year. Please note that the terms of this program may change before it is operationalized by the Fed. More information can be found here.
PRESERVING JOBS FOR AMERICAN INDUSTRY
The CARES Act assists eligible businesses looking for payroll support to keep Americans working. For more information, CLICK HERE.
The IRS rolled out a refundable tax credit that is 50 percent of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. For answers to frequently asked questions, CLICK HERE.
For more information, please review the following web summaries of the CARES Act:
The SBA is currently offering businesses impacted by Coronavirus Express Bridge Loans, Economic Injury Disaster Loans and Paycheck Protection Plan Loans. More information can be found at www.sba.gov/coronavirus.
For questions and consultation, please call the SBA Disaster Assistance Customer Service Center: 1-800-659-2955 (TTY: 1-800-877-8339) or send an email to: firstname.lastname@example.org .
Check out this recorded summit led by the The Chamber for a Greater Chapel Hill-Carrboro from Friday, April 3. A really informative Q&A session with SBA staff. Watch video here.
If you already have an SBA loan or need to find an SBA-approved lender in North Carolina, we've got you covered:
With so many different resources available in the wake of the COVID-19 crisis, many businesses are dizzy trying to figure this all out. The US Chamber of Commerce assembled this helpful summary guide.
The Goldean LEAF Foundation announced they have created a $15 million rapid recovery loan program in response to economic losses related to Coronavirus (COVID-19). Golden LEAF funding will support NC COVID-19 Rapid Recovery Loans for eligible businesses have the following terms:
The NC COVID-19 Rpid Response Recovery Loan Program is managed by the NC Rural Center. Participating Rapid Recovery organization include Business Expansion Funding Corporation (BEFCOR), Carolina Small Business Development Fund, Mountain BizWorks, Natural Capital Investment Fund, and Thread Capital. Information on this program can be found at ncrapidrecovery.org.