Current Operations Status
Our offices are currently closed except by appointment. All staff are available to assist by phone and email. We continue to assess the situation, and will announce a re-opening plan as vaccinations become more widely available.
CSBDF’s Small Business COVID-19 Programs
Small Business Recovery Fund Loans
Established by the City of Durham and Durham County,
For small businesses located within Durham County, affordable financing is available in the form of loans ranging from $5,000 to $35,000. For more information about the program, visit this page.
Small Business Emergency Stabilization Loans
Established by Mecklenburg County
For small businesses located within Mecklenburg County, affordable financing is available in the form of loans ranging from $5,000 to $35,000. For more information about the program, visit this page.
Federal Government Assistance
The Small business Administration currently has two programs for small business owners. For questions about these programs, please contact the SBA disaster assistance hotline at 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail firstname.lastname@example.org. The federal government’s March 2021 COVID-19 response legislation has enhanced both programs:
- Second Draw Paycheck Protection Program Forgivable Loans (PPP) are available for up to 3.5 times your average monthly payroll costs up to $2M. Proceeds from second draw PPP may be used for expenses including mortgage interest, rent, utilities, worker protection costs related to COVID-19, property damage due to looting or vandalism, and certain supplier expenses. The business must demonstrate a 25% reduction in gross receipts across comparable quarters in 2019 and 2020. If your business has not received a PPP forgivable loan before, you may be eligible for the first draw of the program under different terms.
- Economic Injury Disaster Loans (EIDLs) are available in amounts up to $150,000 to help overcome the temporary loss of revenue due to COVID-19. These loans may be used to pay fixed debts, payroll, accounts payable, and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses and 2.75% for non-profits. Terms are determined on a case-by-case basis, but can be up to 30 years.
Thanking Our Supporters
Our assistance programs are only possible due to the help of our partners.