North Raleigh Today

“Economic injuries and losses to businesses have just begun and will continue through this crisis. Many small businesses have suffered substantial losses and need financial assistance not otherwise available on reasonable terms.”

Those words, written by North Carolina Governor Roy Cooper, are in a letter that he sent to the U.S. Small Business Administration. Gov. Cooper is asking the SBA to execute a disaster declaration to aid our state’s small business owners impacted by the coronavirus.

Businesses across the Triangle—and across the globe—are facing a new normal, at least for the time being. Each of us, in one way or another, must adapt. Social distancing is changing the way we do business. For some businesses, that change is a difficult pivot to make.

The News & Observer reported on the initial impacts to Triangle businesses.

We want you to know that we are here as a resource for our members and the regional business community. These are unprecedented times, but there are options out there for businesses that are struggling.

First, while you make your plans to navigate through the coming weeks and months, it’s important to know the facts about the coronavirus. The Centers for Disease Control and Prevention has provided an interim guidance for businesses and employers to prepare for COVID-19. These are essential strategies for businesses to adopt.

Separate from the governor’s request, there also are resources currently available through the SBA for those businesses impacted by the coronavirus.

• The SBA’s Economic Injury Disaster Loan Program will provide low-interest loans to small businesses and nonprofits impacted by COVID-19.
• There are a number of ways that the SBA can connect you with a lender.
• The SBA has programs available for businesses with government contracts.
• There are a list of local resources and partners, as well.