The following are articles and reports on the web that the Community and Economic Development Program at the UNC School of Government shared through social media over the past month. Follow us on twitter or facebook to receive regular updates.
COVID-19 Resources: Loan Funds & DFI Advising
NC guidance clarifies that small business loan programs can use Coronavirus Relief Funds, allowing local governments to design very business-friendly loan programs with long no-payment and amortization periods. bit.ly/2ZMnwqW
For more information on local government loan programs and COVID-19 related resources, visit: https://dfi.sog.unc.edu/covid-19/
UNC DFI team is available to advise local governments creating emergency loan funds for small businesses. Sign up here: https://www.sog.unc.edu/webforms/dfi-covid-advising
Items of interest related to CED in North Carolina:
Announcement by NC Golden LEAF about restarting its rapid recovery loan program after it was replenished by state funds appropriated in Session Law 2020-4. bit.ly/35wiFLa
Commentary in U.S. News & World Report highlights the public-private revitalization of downtown Kannapolis NC as a model, where UNC DFI (Development Finance Initiative) has led the planning and implementation. https://bit.ly/2Z0j6Mw
Wake County and the NC Rural Center collaborate on loan program for small businesses as part of the NC Rapid Recovery program to address COVID-19. bit.ly/3g74K2Z
CED items:
National Federation of Independent Business survey reports 80% of small business owners surveyed applied for a PPP loan, and 90% of those received funding. Over half think they’ll meet requirements for loan forgiveness. cnb.cx/3eb65Ee
LISC highlights ways to build resiliency in commercial corridors in its online Spotlight. https://bit.ly/3equyFW
Last month’s edition of “What @sog_ced is reading….” April 2020
Compiled by Marcia Perritt