The purpose of the Orange County Emergency Small Business Funding Program is to assist Orange County-based small businesses that are experiencing financial difficulties such as mandated shutdowns, employee layoffs, and operating losses as a result of ongoing efforts at the Federal, State and local authorities to contain and minimize the spread of the COVID-19 pandemic.
Applications for Orange County’s Round #3 Emergency Small Business Grant Program will be available beginning at 12:00 p.m. on Monday, January 4, 2021. The application and supporting materials must be submitted by 5:00 p.m. on Wednesday, January 20, 2021, for the application to be considered.
Businesses that have already received COVID-19 related financial assistance from either the state, federal or local governments are eligible to apply for this round of funding. Examples of these types of programs include Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), Small Business Administration (SBA) Loan, Carrboro Small Business and Non-Profit Emergency Loan/Grant Fund.
Orange County is providing up to $250,000 in funding to support individual grants of approximately $3,000 per applicant for all finalist applicants to the Round #3 program. Final award amount will be determined based on the total number of eligible applications received.
Requirements to Receive a Grant
Grant Recipient shall endeavor to meet the following conditions but in no case fail to meet at least one of the following conditions for at least one year:
a) Job Retention, within six months of the award retain at least 50% of the work force that existed on January 1, 2020 and retain 100% within one year of the award date;
b) Living Wage, pay 90% of Borrower’s work force a living wage of $15 per hour; or
c) Community Participation and Involvement, in kind service, discounts or donation to first responders, healthcare and other front line workers in the amount of at least $250 annually for award recipients with net income of up to $100,000 and at least $500 annually for all others. Any value derived from discounts shall be the result of at least 15% off retail price. Determinations regarding qualifying recipients of in kind services or donations shall be at the sole discretion of the County.
· Borrower shall supply evidence of compliance through NC Employment Commission reports, IRS 941 Payroll quarterly reports, Orange County Living Wage certificate or, if those are inapplicable, owner affidavit.
Grant recipients shall commit to a minimum of 2-hours of mentoring with the Small Business Technology Development Center within the 9-month period following the grant award. Grant recipients must provide proof of initial contact with SBTDC prior to the County transferring grant funds.