New program can provide Cumberland County small businesses with up to $50,000

By Staff Report, posted Jan 21, 2022 on BizFayetteville.com

Small business owners with 250 employees or less may be eligible for financial assistance.

Cumberland County recently launched a Small Business Economic Assistance Program that allows small businesses to apply for up to $50,000 in financial assistance. Other than meeting the criteria for employment range, the business also meet program requirements and must be able to demonstrate economic hardship due to COVID-19 to apply.

“A business is required to have been in operation on or before March 3, 2021, and to still be in operation currently. A contractual relationship will be established between the County and the small business to ensure compliance with County, State and Federal guidelines,” a county press release said.

The new program is funded through the Coronavirus State and Local Fiscal Recovery Funds, which falls under the American Rescue Plan Act.

As part of the Act, Cumberland County was awarded $65.2 million in Coronavirus State and Local Fiscal Recovery Funds. The Board of Commissioners approved the allocation of $3.5 million in funding to establish the program.

Federal guidance indicates that recipients of the funds may use the money for payroll, mortgages, rent, costs associated with mitigation or prevention of COVID-19 such as physical plant changes to enable social distancing, enhanced cleaning efforts, barriers or partitions, or COVID-19 vaccination, testing or contact tracing programs, technical assistance, counseling or other services to assist with business planning needs, and other operating costs as a result of the public health emergency and measures taken to contain the spread of the coronavirus, the County said.

People with questions can contact Tye Vaught, management analyst for Cumberland County, at 910-678-7776 or tvaught@co.cumberland.nc.us.

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