$15M Available To Small Businesses Hurt By Hurricane Matthew

Oct 25, 2017

view of flooded I-95 after Hurricane Matthew
Credit Jay Price / WUNC

Small business owners affected by Hurricane Matthew can apply for assistance from a new block grant program.

The Governor’s Recovery Office and the N.C. Department of Commerce awarded $7.5 million to support small businesses still recovering from the storm that hit last October, according to the governor's office. The funds will be matched by private lenders to provide at least $15 million in loans available to small businesses in Matthew-affected areas, especially in Robeson, Cumberland, Edgecombe and Wayne counties, according to Gov. Roy Cooper.

“When Hurricane Matthew hit, small business owners lost store fronts, equipment, furniture and revenue, and many aren’t yet able to reopen,” Cooper said in a statement. “Small business owners can use these funds to fix damage, replace equipment, and get their business up and running again.”

Funds can be used to make repairs and property improvements; purchase and install equipment, furniture and fixtures; cover working capital or pay for marketing, operating costs and inventory; and/or relocate people displaced if the small business moves into or replaces a residence.