More than $200 million in small business loans is coming to North Carolina as part of an ongoing federal program to help disadvantaged businesses.
THIS AND A LOOK AT OUR WETTEST COMING UP IN A FEW MINUTES DEB. ALL RIGHT, MIKE, THANKS. >> NORTH CAROLINA IS GETTING MORE THAN 200 MILLION DOLLARS WORTH OF HELP FOR SMALL BUSINESS OWNERS. IT’S PART OF A PROGRAM THAT’S ALREADY CREATED THOUSANDS OF JOBS IN THE STATE. WRAL’S KEENAN, WILLARD SHOWS US HOW THIS MONEY IS SET TO GO DIRECTLY TO COMMUNITIES IN NEED. AT THE ANNOUNCEMENT HERE THIS MORNING, STATE LEADERS SAID THIS IS A WIN FOR DISADVANTAGED BUSINESSES. WE WANT TO SHOW YOU EXACTLY HOW SMALL BUSINESSES CAN TAP INTO THIS MONEY. >> ROUND OF APPLAUSE FOR A MAJOR BOOST TO WORLD BUSINESS AT THE NC RURAL CENTER TODAY, NORTH CAROLINA AND FEDERAL LEADERS ANNOUNCED MORE THAN 200 MILLION DOLLARS IN AMERICAN RESCUE PLAN FUNDS FOR THE STATE SMALL BUSINESS IN SMALL LO CREDITS INITIVE CREDITS INI NOT BE ABLE TO SECURE THEM OTHERWISE. SO WE’RE GOING TO BE GIVING WANT MONEY THIS TIME IN ORDER TO MAKE SURE THAT SMALL BUSINESSES, WHICH ARE AT THE HEART OF NORTH CAROLINA’S ECONOMY, ARE ABLE TO EXPAND ITS NOT A NEW PROGRAM. NORTH CAROLINA GOT MORE THAN 44 MILLION DOLLARS FROM THE SSBCI STARTED BACK IN 2012 AND STATE LEADERS SAY THEY’VE ALREADY SEEN A BIG IMPACT. BUT WE’VE REACHED OVER 1200 SMALL BUSINESSES ACROSS THE STATE. THOSE BUSINESSES HAVE IN TURN CREATE OVER 16,000 JOBS IN THE STATE. WE’RE REALLY PROUD OF THE WORK. ONE OF THOSE SMALL BUSINESS OWNERS SITES LA WHO USE THE LOANS TO GROW HIS CHAIN ​​OF EASTERN NORTH CAROLINA CONVENIENCE STORES. WE HIT THAT VANTAGE ABOUT TO MAKE OUR BUSINESS WE DO A BETTER FOR THE COMMUNITY WITH 4 TIMES AS MUCH MONEY IN THIS ROUND. THE STATE HOPES THE SSBCI WILL CREATE MORE THAN 60,000 JOBS OVER THE NEXT DECADE. WE HAVE HUNDREDS OF MILLIONS OF DOLLARS IS GOING TO STAY IN THE STATE FOR 10 YEARS. WHEN YOU SEE ALL KINDS OF LOANS, ALL KINDS OF JOBS. AND WE’RE VERY EXCITED. BUT WHO’S ELIGIBLE AND HOW TO GET THESE LOANS? SMALL BUSINESSES WITH LESS THAN 500 EMPLOYEES ARE ABLE TO APPLY, INCLUDING BOTH EXISTING BUSINESSES AND STARTUPS AS PART OF THE AGREEMENT. 33% OF THE TOTAL FUNDS WILL GO TO SMALL BUSINESS OWNERS WHO ARE WOMEN, PEOPLE OF COLOR OR FROM RURAL AREAS. BUSINESSES ALSO CAN SIGN UP ON THEIR OWN. THEY HAVE TO GO THROUGH THEIR LENDER TO APPLY. AND THAT IS THE BEST WAY FOR THEM IS TO ASK THEIR LENDERS THAT THEY’RE WORKING WITH. IF THEY USE THESE PROGRAMS, IF THEY’RE NOT, WE’LL GET THEM