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Qualifying Burlington businesses with five employees or fewer can apply for forgivable loans of up to $7000. Funds must be used for approved expenses related to COVID-19 impacts. The business owner or over half of employees of the business must have low- or moderate-income as defined by HUD to be eligible. Non-profits are not eligible for this funding opportunity, only for-profit, private businesses operating in the City of Burlington. Follow the link to the Burlington Economic Development website for more information. http://burlingtonnc.gov/757/Economic-Development  Quick Facts: These forgivable loans are first-come-first-serve for businesses with less than 5 employees. Qualifying businesses must either create or retain one or more full-time position that employs an individual from low to moderate income household. Household economic certification documents are a part of the process because CDBG funding is required to aid individuals who are low to moderate income. Certifying the owner's or employee's household as low to moderate income is required. Either the owners of the business or more than 51% of employees must be low to moderate income. Additionally, funding may be applied to:
With each qualifying expense, documentation to support the costs of those expenses will be required. For example, if your business applies to use the funds on operating expenses (utility bills, rent, mortgage), billing documents, lease agreements, etc. would be used to support the needs for expenses. Please follow the link to the Neighborly Portal for the full application. We encourage you to reach out to the Burlington Economic Development Office for any questions regarding this program. Burlington Economic Development Blake Moyer 336-222-5081 bmoyer@burlingtonnc.gov https://portal.neighborlysoftware.com/BURLINGTON/Participant/Login Comments are closed.
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