504 Capital Corporation

In response to the overwhelming challenges faced by small businesses across America, in March of 2021 the U.S. government announced a Coronavirus Stimulus Bill, which provided almost $350 billion in emergency relief funding to help small businesses stay afloat during the COVID-19 pandemic. This government assistance includes the Paycheck Protection Program, Economic Injury Disaster Loans (EIDL) , the Emergency Capital Investment Program, and Small BusinessTax Credit Programs. Your small business could receive a Economic Injury Disaster Loan (EIDL) of up to $2 million in funds. It differs from the requirements of regular 504 Loan in that this emergency capital can be used to meet financial obligations and operating expenses that could have been fulfilled had the disaster not occurred. These include fixed debts, payroll, and accounts payable. For information on the status of your economic injury disaster loan, contact SBA disaster customer service at 1-800-659-2955 (TTY/TDD: 1-800-877-83

According to a 2020 report, North Carolina is home to over 900,000 small businesses , and most of them need help acquiring financing. Small business loans are invaluable to both established enterprises and brand new startups. Working capital provides a wealth of opportunities for your business to expand, no matter how long you’ve been around. Rest assured, there are financing solutions for every small business in North Carolina. Here’s a brief guide to the most common funding options available to small business owners: Bank Loans When you’re beginning to research small business financing, long-term loans from banks and credit unions are a great place to start. Just one example – if you qualify, the Carolina Small Business Development Fund offers loans of up to $250,000. SBA Loans The Small Business Administration (SBA) is a federal agency which was created to provide resources to small businesses looking for funding. It offers a variety of low-interest long-term small business financin