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Financial Resources


   Federal Assistance 

Paycheck Protection Program

The CARES Act includes $349 billion for a federal small business loan program called the Paycheck Protection Program (PPP). The program is designed to get cash in the hands of small businesses quickly, and incentivize business owners to keep employees on payroll by offering them loan forgiveness. This loan provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. SBA will fully forgive the loan if all employees are retained and if 75% of more of the money is used on payroll.

Who is eligible?

In order to be eligible, you must be a small business (500 employees or less). Starting April 3, small businesses and sole proprietors can access this program. Starting April 10, independent contractors and self-employed individuals can apply. Some nonprofits also qualify.

How to apply?

This program is available through participating SBA lenders. A list of SBA lenders in North Carolina can be found here.

View and download the application here, but be sure to connect with your lender to determine if there are other forms and documentation you need to fill out and submit.

For more information on the PPP program, click here.

Paycheck Protection Program (PPP) Loan Forgiveness Application

The application provides borrowers with instructions on how to apply for forgiveness of PPP loans as authorized by the CARES Act.

The application is here.

Economic Recovery Loan

The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Here’s key information you need to know:

Who is eligible?

In order to be eligible, you must be a small business (500 employees or less). Eligible businesses include:

  • North Carolina small businesses affected by the disaster – common eligible businesses include retailers, restaurants, recreational facilities, tourism-based businesses, manufacturers, owners of rental property, hotels, and wholesalers
  • Private non-profits
  • Small agriculture cooperatives are eligible, but agricultural enterprises are not
  • Small aquaculture businesses

How to apply?

To apply for a COVID-19 Economic Injury Disaster Loan, click here.

For more information on the EIDL program, click here.


  State Assistance

NC COVID-19 Rapid Recovery Loan Program

The North Carolina COVID-19 Rapid Recovery Lending program supports North Carolina small businesses and family farms as they recover from the economic impact of COVID-19. This rapid recovery loan helps small businesses bridge the gap between when crisis strikes and when federal loans, insurance payouts, and other relief funds are approved, or businesses have time to recover.

NC COVID-19 Rapid Recovery loans are not designed to be a singular source of assistance for small businesses. Repayment is expected either from more permanent funding sources or from the future cash flow of the business.

Who is eligible?

  • Applicants must be a North Carolina small business affected by COVID-19 (all 100 NC counties are eligible).
  • Applicants must have at least one (1) employee, who could be the self-employed owner.
  • Start-up businesses that began operations before March 23, 2020 are eligible.

How to apply?

Businesses interested in applying should be prepared to complete an online application and provide tax returns, profit and loss statements, and bank statements.
*Loans subject to availability of funds.

For more information on the Rapid Recovery Loan program, click here.


The unemployment insurance system pays temporary assistance to eligible individuals who are unemployed through no fault of their own. Not everyone who applies for unemployment benefits will qualify. Certain conditions must be met in order to meet initial eligibility requirements and to remain eligible to receive benefits. Individuals pay no part of the costs of unemployment benefits. Employers pay the full cost of unemployment benefits.

Who is eligible?

There are FOUR criteria that you must meet to be eligible for unemployment benefits in North Carolina:

  • You must be unemployed due to no fault of your own (DES will make this determination based upon information provided by you and your last employer);
  • You must be considered monetarily eligible (earned sufficient wages to establish a claim);
  • You must be physically able, available and actively seeking work; and  
  • You must register for work with your resident state's job service office. In North Carolina that service is NCWorks Online

How to apply?

You can apply for benefits online 24 hours a day, seven days a week. If you need help, contact our Customer Call Center at 888-737-0259.


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