During the beginning of the pandemic, the impact of COVID-19 led to many small businesses closing their doors. From supply chain issues to staffing shortages, the pandemic is leaving many challenges behind for these small businesses.
To overcome these challenges, the City of Fayetteville’s Economic and Community Development Department partnered with local organizations to put together a microloan program for small businesses, an article from ncIMPACT recently outlined.
This initiative brought the community together to give resources and opportunities to those in need. Originally the program was set for low qualification entry to try to increase the number of eligible businesses that could apply.
In the end, $250,000 dollars were approved for microloans up to $10,000 dollars.
Consequently, 44 businesses received funding and were able to support 162 employees.
The Mid-Carolina Regional Council, serving Cumberland, Sampson, and Harnett Counties, helped support their communities by connecting regional employers and employees through NCWorks.
The Center for Economic Empowerment and Development provided a business center with resources and training to help business owners learn the ins and outs of running a small business while facing challenges and hardships.
Some educational institutions have also contributed to the cause by creating programs at their institutions that can help employees gain their post-secondary degrees and eventually join the workforce, to tackle the issue of staff shortages. Some of these include Fayetteville State University, with its Bronco FinishLine Grant program, a Fayetteville Technical Community College program that allows students to use funds to cover financial emergencies, and Sampson Community College’s expansion of their CDL training.
To wrap up the first day, attendees were able to meet up for a social event at the Brad Halling American Whiskey Ko. in Southern Pines where a $10,000 check was presented to the Joint Special Operations Foundation for their scholarship fund. Photo pr
The three-story, 200,000 square-foot business incubator space is located at 420 Maiden Lane. The building features an elevator, construction has begun on handicap bathrooms for the first floor and the second and third floors feature window walls offering views of Segra Stadium.
Image provided by FTCCFocused on building the local workforce and streamlining the education process through real world learning, the Hope, Opportunity, Prosperity through Education Program at Fayetteville Technical Community College (FTCC), also kno
