To our customers and lending partners, both existing and prospective:
We have been keeping a close eye on the developments of the COVID-19 and its effects on small businesses around the country. We sincerely hope that everyone stays safe, healthy and takes all precautions suggested by health and government professionals.
For the most up-to-date information about the U.S. Small Business Administration’s steps to alleviate COVID-19’s on small businesses, we ask that you visit https://disasterloan.sba.gov/ela/ for direct SBA loans. Not all states have yet been added to the list of eligible areas, but that is coming. It is our understanding that you can register first and then apply when NC is approved for eligibility (a process all states are working through). We suggest you check the website daily.
This link provides the process: https://disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf.
Existing BEFCOR borrowers facing financial hardship should reach out to our Servicing Officers, Heather Newgreen and Rhonda Moser, for questions regarding available options.
Our passion for small businesses extends far beyond lending. We are here to help provide information, resources and support during this unprecedented time of concern and unfamiliar circumstances.
RESOURCES
Free Technical Small Business Assistance
CARES Act, Loans, Grants, and Resources (Federal, SBA)
- Paycheck Protection Program
- CARES Act Press Release and Details
- SBA Disaster Assistance Updates
- Small Business Owner’s Guide to the CARES Act
Other Loan Programs, Grants, and Resources
- City and County Economic Development Groups in your area – many have small business programs
General Business Information
- Warning to Small Businesses about Scams and Fraud Schemes
- Unemployment Insurance Information from NC Dept. of Commerce