NC House Bill 1043 Appropriates $125 Million for Rapid Recovery Loan Program

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House Bill 1043, a bipartisan effort by the NC General Assembly and which was signed into law by Governor Cooper this morning, includes an appropriation of $125 million to Golden LEAF for the NC COVID-19 Rapid Recovery Loan Program. This appropriation is a significant fiscal commitment that will help meet the needs of North Carolina’s entrepreneurs and small-business owners.

Small business owners have a long road ahead of them and the need is great. The NC Rural Center and its partners in the NC Rapid Recovery Loan Program will help. Applications to the NC COVID-19 Rapid Recovery Loan Program will continue to be reviewed on a first come, first served basis. Please visit NC Rapid Recovery to learn more about the program and submit an application for your small business.
The NC COVID-19 Rapid Recovery Loan Program was launched by the NC Rural Center on March 24 with an initial allocation of $15 million provided by the Golden LEAF Foundation. The goal of the program was to provide emergency bridge loans to our state’s small-business owners who were being affected by the economic impacts of COVID-19.