How Community Colleges Can Support Your Western North Carolina Small Business

News provided by

North Carolina Community College System

Oct 21, 2024, 16:24 ET

RALEIGH, N.C., Oct. 21, 2024 /PRNewswire/ -- Hurricane Helene unleashed record rainfalls and devastating floods across Western North Carolina, nearly destroying some small towns. The flooding caused over 300 mudslides across the region, cutting millions of people off from power, water and access to essential supplies. The Small Business Center Network is a service of the North Carolina Community College System and the largest state-supported small business assistance initiative, gathering resources and information to help small business owners affected by Hurricane Helene.

While the storm's immediate threat to life and property is over, the rebuilding and recovery process for residents and small business owners in western North Carolina is just beginning. The Small Business Center Network, North Carolina's largest state-supported small business assistance initiative, gathers resources and information to help small business owners affected by Hurricane Helene.

MountainBizWorks' WNC Strong: Helene Business Recovery Fund is the most notable of these resources. These rapid relief loans help small business owners bridge the gap between the disaster and the approval of federal loans, insurance payouts, and other disaster relief funds. The Helene Business Recovery Fund can approve and distribute funding within seven to ten days with no credit score minimum, closing costs or fees, and no prepayment penalty. Applying for this relief loan does not impact your eligibility for a Small Business Administration (SBA) economic injury disaster loan.

Small businesses eligible for the loans must:

Be a for-profit established business
Have at least six months of operating history
Be based in the SBA-declared NC Helene disaster area
Have fewer than 100 employees
Be impacted by Hurricane Helene

The funds may be used as working capital, a bridge to federal aid, or for any business purpose to support recovery.

Anne Shaw, state director for the Small Business Center Network, recommends that all small businesses interested in applying should review the documentation requirements and meet with a small business counselor to help them with the application process.

"We are grateful that the Small Business Center Network has created a network to help field calls, meet the needs of small business owners, and distribute resources across the state," said Christine Laucher, Strategic Partnership Manager at Mountain BizWorks.

"The Small Business Center Network shares the mental load and has such a strong infrastructure to help us help our communities."

In addition to MountainBizWorks' relief fund, several other organizations offer crucial assistance for small businesses affected by the storm.

The Small Business Center Network advises small businesses in the western counties of North Carolina to use these resources:

NC Division of Employment Security: Find unemployment benefits and support for North Carolina workers and small business owners.
SBA Disaster Assistance for Hurricane Helene: Get disaster loans to help your business recover from Hurricane Helene.
SBA Physical Damage Loans: Apply for loans to fix or replace property damaged in a disaster.
FEMA Information and Resources: Access FEMA's help and resources for disaster recovery.
NCEDA Recovery Resources for Western NC: Resources for Western NC businesses recovering from disasters.
Farmers.gov Disaster Tool: A tool for farmers to figure out what disaster help they qualify for.
Disaster Unemployment Assistance: Unemployment benefits for people in areas affected by Hurricane Helene.
SBTDC Hurricane Helene Resources: Help for small businesses recovering from Hurricane Helene.
EDPNC Disaster Recovery Resources: Tools and guidance for businesses to recover after a disaster in North Carolina.

Western North Carolina's small businesses have a range of resources at their disposal. Find your nearest Small Business Center through this interactive map to get personalized support or call (800) 228-8443.

"Our Small Business Center Network directors live in the communities where they work, so they've seen the devastation firsthand," Shaw said. "They understand the challenges ahead and are a powerful resource to lean on for support, ideas and assistance."

SOURCE North Carolina Community College System