COVID-19 Resources

The Institute has been here for you since 1986. We are here for you now.

During this challenging time, The Institute and its community partners are here to support you.  We deeply value the small and minority-owned businesses of North Carolina, and will use this site to provide you with as many resources as possible.  You can look to The Institute as:

  • A repository of available resources, via this website
  • A go-to source for technical assistance and counseling, via our Women’s Business Centers and SBTRC
  • A hub for Real Time Communications, via Town Hall meetings, podcasts, newsletters and social media

We are working to be a repository of information and support for North Carolina's small businesses, and are here to help you navigate the resources available to support you.

Impact of COVID-19 on NC Small Businesses Survey Results

Beginning in March, The Institute along with statewide partners have conducted brief, confidential surveys to understand the impact that COVID-19 is having on small businesses in North Carolina. The results of this survey are meant to guide government officials and corporate decision makers regarding the impact of COVID-19 on small businesses.

The summary of the results of the surveys are shared below, showing the impact COVID-19 is having over time.

Real Time Updates

Updated 8/26/20: SBA Announces New Series - "Let's Talk Business: Reignite North Carolina Series"

NC LTB Reignite Series

The SBA North Carolina District Office (NCDO) is dedicated to sparking change and igniting action so small businesses can confidently start, grow, and expand.
In support of this initiative, the NCDO is hosting "Let's Talk Business: Reignite North Carolina Series".

Wednesdays, starting August 26th at 9:00 AM

The free six-part virtual series will include:
- Session 1: Fire Up w/ Brian Hamilton
- Session 2: You have your PPP: What’s next?
- Session 3: An update on the EIDL Program
- Session 4: Building a Sustainable Business Strategy during COVID 19
- Session 5: Fuel Your Business with SBA Funding
- Session 6: The World’s Largest Opportunity for Small Business: The US Government

For more information regarding this event, contact Levi Kinnard at or (704) 344-6585

Updated 7/21/20: Gov. Cooper to Hold COVID-19 Briefing at 2:00 PM Today

Governor Cooper and members of the Coronavirus Task Force will hold a briefing at 2:00pm today (Tuesday July 21, 2020).  You may view via live stream here.

Updated 6/30/20: COVID-19 Business Assistance Funds Deadlines

SBA Paycheck Protection Program:  Applications and/or Approvals Must Be Received By June 30, 2020

SBA's Paycheck Protection Program ("PPP") was activated in April with two rounds. Currently, there are still funds available in the PPP. If you have not applied or been turn down from receiving the PPP, you still have time to apply, however, the PPP ends on June 30, 2020.

If you are planning to apply, please note that approvals can take 1-4 days. With time being of the essence, you may want to apply to more than one approved SBA lender - typically, a bank or credit union along with a fintech especially since all PPP lenders have a cap which varies for each PPP approved bank, credit unions and fintech. Even if you receive approval from both applications, you can only receive funds. NOTE: While the loan is in the name of the business, your credit report may be pulled for each application.

If you own more than one business, each business can apply for the PPP separately.

If you are planning to apply, you should do so as soon as possible to get into the PPP pipeline submission to SBA for approval and funding, you should have at a minimum the following information:

  • Basic information about your business including Articles of Incorporation or Organization, Active and Good standing, verification of all owners, government-issued IDs for all owners, and how to contact you
  • Tax Forms for 2019 and First Quarter 2020: Form 940, Form 941, Form 944, 1009s, and 1040 Schedule C (self-employed and independent contractors)
  • Payroll information including Average monthly payroll costs, and
  • Proof of mortgage or rent, mortgage interest, and utility expenses

FAQs for Lenders and Borrowers (May 27, 2020)

How to Calculate Loan Amount

FAQs for Faith-Based Organizations Participating in the Paycheck Protection Program and Economic Injury Disaster Loan Program


SBA Paycheck Protection Program Forgiveness Application:  Available Now

If you received funds through the SBA Paycheck Protection Program and would like to apply for loan forgiveness, the Paycheck Protection Program Loan Forgiveness application is available at:  Click here for Paycheck Protection Program Forgiveness Application


SBA Economic Injury Disaster Loan and Advance:  Reopened for all Businesses

SBA is now accepting new applications for COVID-10Economic Injury Disaster Loan (EIDL) and EIDL Advance to small (including nonprofits)and agricultural businesses.

The SBA is processing EIDL applications that were submitted before the portal stopped accepting new applications on April 15 and will be processing those applications on a first-come, first-served basis.

The EIDL is a loan up to $2 million with interest rate of 3.75% for small businesses and 2.75% for most nonprofits. The funds can be used for fixed debts, payroll (if not receive PPP), accounts payable, etc.

You are eligible to apply for an EIDL as an independent contractor or self-employed person.) You may apply for the Loan and Advance using the streamlined application.


City of Durham Small Business Recovery Program:  Loan Applications Accepted until Funds Run Out

Durham City Council has authorized the establishment of the Durham Small Business Recovery Fund program for small businesses adversely affected by the COVID-19 pandemic.

The fund consists of private money for grants and public funds for loans and is currently $2 million, with $1 million each from the City and from Duke University. The fund will be held and administered by the Carolina Small Business Development Fund (CSBDF). In addition to administering the grants, CSBDF also will process, service and collect loans on behalf of the City. The agency will also market the programs and provide technical assistance to businesses receiving loans.

Grant applications will be selected for review randomly, and loans will be selected for review on a first come, first serve basis.

  • Application and Eligibility: For more information about the including Frequently Asked Questions and link to online application, please go to the City of Durham's Small business Recovery Fund webpage.
  • Loan Program: For more information about the including Frequently Asked Questions and link to online application, click here.


North Carolina COVID-19 Rapid Recovery for Small Businesses:  Accepting Applications As Long As Funds Are Available

The North Carolina COVID-19 Rapid Recovery Loan Program supports North Carolina small businesses and family farms as they recover from the economic impact of COVID-19. This rapid recovery loan helps small businesses bridge the gap between when crisis strikes and when federal loans and other relief funds are approved, or businesses have time to recover. This is a loan not a grant.

Loan Details:  Loans are available for up to $50,000, based on the business’s current revenue. Loan agreements are structured as follows:

  • Loan sizes capped at approximately two months of current revenue.
  • Six months of no payments, followed by 48 months of principal and interest payments at 5.5% interest.
  • There are no prepayment penalties.
  • Defaulted loans are subject to collections


  • Applicants must be a North Carolina small business affected by COVID-19 (all 100 NC counties are eligible).
  • Applicants must have at least one (1) employee, who could be the self-employed owner.
  • Start-up businesses that began operations before March 23, 2020 are eligible.

Click Here to Apply for the NC Rapid Recovery Loan

Click Here for More Information about NC COVID 19 Rapid Recovery Loan Program


Updated 6/17/20: SBA’s Economic Injury Disaster Loans and Advance Program Reopened

Information provided by the SBA:

To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today.

“The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the small businesses and non-profits that are facing economic disruption due to the COVID-19 impact.  With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants – reducing the economic impacts for their businesses, employees and communities they support,” said SBA Administrator Jovita Carranza.  “Since EIDL assistance due to the pandemic first became available to small businesses located in every state and territory, SBA has worked to provide the greatest amount of emergency economic relief possible.  To meet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.”

Learn more here.

Updated 5/6/20: Executive Order No. 138 - Easing Restrictions on Travel, Business Operations and Mass Gatherings: Phase 1

On May 5, 2020, Governor Cooper signed Executive Order No. 138 - Easing Restrictions on Travel, Business Operations and Mass Gatherings: Phase 1. Phase 1 begins Friday, May 8, at 5:00 p.m. and runs through Friday, May 22, 2020.

The documents here outline the changes to restrictions noted in this Executive Order and provide guidance to businesses and citizens:

Updated 4/30/20: GSA Fradulent Website Warning

The U.S. General Services Administration (GSA) has discovered a fraudulent website with the look and feel of the real and sign-in page.  The fraudulent website is and is not a legitimate web site.  Please do not enter any information into this site.  GSA is currently investigating the security risk.

Updated 4/29/20: Paycheck Protection Program (PPP) Lending Operations Update

Paycheck Protection Program (PPP) Lending Operations Update – Wednesday, April 29, 2020

Information provided by the SBA:

To ensure access to the PPP loan program for the smallest lenders and their small business customers, starting at 4 p.m. today EDT through 11:59 p.m. EDT, SBA systems will only accept loans from lending institutions with asset sizes less than $1 billion dollars.

Please note, lending institutions with asset sizes less than $1 billion will still be able to submit PPP loans outside of this time frame. Please also note that lenders with asset sizes greater than $1 billion will be able to submit loans outside of today’s 4pm -11:59pm EDT reserved processing time.

This reserved processing time applies today April 29, 2020. SBA and Treasury will evaluate whether to create a similar reserved time again in the future.


SBA and Treasury continue to monitor loan system perform

Updated 4/23/20: Paycheck Protection Program Update

On Tuesday, April 22, the US Senate approved a $484 billion relief package that includes an additional $310 billion for PPP ($250 billion would be open to all lenders and $60 billion would be reserved specifically for smaller, community lenders) $50 billion for EIDL LOANS and $10 billion for EIDL Grants.  The House is expected to vote (and approve) this relief package on Thursday, April 24.

The original PPP application can be viewed at this link.  Please note that the application is subject to change in the new funding cycle.

Documents that you might need for the lender may include but are not limited to:

  • Current personal financial statement
  • Latest available personal tax return
  • Latest available business tax return
  • Latest available internal 2019 year-end financials
  • 2019 payroll tax returns (Quarterly 941 reports and Annual 940)
  • 2019 form 1099s paid to individual independent contractors
  • Year-to-date internal 2020 financials
  • Spreadsheet detailing the following:
    • List of all employees detailing costs incurred for benefits, retirement plan contributions, and wages paid including, but not limited to: commissions, vacation, sick pay, FMLA and other leave
    • 2 months rent with copies of leases
    • 2 months mortgage interest with copy of loan payments

Please visit COVID Relief Programs for information on any of the SBA COVID relief programs (PPP, EIDL, SBA Express Bridge Loan, and SBA Debt Relief).

Informational presentation below provided by Duke Law Community Enterprise Clinic

Updated 4/16/20: SBA Releases Press Release on EIDL and PPP

Powered by SBA Logo in Blue and Red Color
WBC Logo


Release Date: April 15, 2020                             

Contact:, (202) 205-7036

Release Number: 20-32            

Statement by Secretary Mnuchin and Administrator Carranza on the Paycheck Protection Program and Economic Injury Disaster Loan Program

WASHINGTON – Today, U.S. Treasury Secretary Steven T. Mnuchin and U.S. Small Business Administration Administrator Jovita Carranza issued the following statement regarding the Paycheck Protection Program and Economic Injury Disaster Loan Program:

“The SBA has processed more than 14 years’ worth of loans in less than 14 days. The Paycheck Protection Program is saving millions of jobs and helping America’s small businesses make it through this challenging time. The EIDL program is also providing much-needed relief to people and businesses.

“By law, the SBA will not be able to issue new loan approvals once the programs experience a lapse in appropriations.

“We urge Congress to appropriate additional funds for the Paycheck Protection Program—a critical and overwhelmingly bipartisan program—at which point we will once again be able to process loan applications, issue loan numbers, and protect millions more paychecks.

“The high demand we have seen underscores the need for hardworking Americans to have access to relief as soon as possible. We want every eligible small business to participate and get the resources they need.”


About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit

Updated 4/9/20: COVID-19 Impact on MWBE Small Businesses, Hosted by Charlotte Regional Business Alliance - April 6, 2020

The Charlotte Regional Business Alliance’s Keva Walton talks with Kevin J. Price, The Institute President and CEO, and Natalie Williams, Executive Director of the Women’s Business Center of Charlotte.

Minority small businesses hardest hit by the coronavirus are primarily in the professional services sector. That’s one of several key findings of a survey conducted by The Institute.

Updated 4/8/20: The Impact of COVID-19 on Small Diverse Businesses Town Hall - April 2, 2020

The North Carolina Institute of Minority Economic Development is hosting a Town Hall with guest speakers Thomas A. Stith III, N.C. District Director of the U.S. Small Business Administration, and Kevin J. Price, President & CEO of The North Carolina Institute of Minority Economic Development.

We recognize what a challenging time this may be for small diverse businesses specifically, and used this format to engage and provide some information on the topic "The Impact of COVID-19 on Small Diverse Businesses". We have surveyed hundreds of small diverse businesses, analyzed results, delivered a call to action and used this forum to discuss "Where Are The Resources and What's Next?".

Updated 4/6/20: WBCC Interview with Kevin J. Price

Natalie Williams, Executive Director of the Women's Business Center of Charlotte, sat down with The Institute's President and CEO, Kevin J. Price, to speak about the impact of COVID-19 on small businesses in North Carolina.

View the full interview here.

Institute Resources

Need Technical Assistance or Small Business Counseling?

The Women's Business Centers and South Atlantic Small Business Transportation Resource Center (SBTRC) are here to help!

Women's Business Center of Charlotte

Contact Natalie Williams

Women's Business Center of North Carolina

Contact Roberta McCullough


Contact Alyssa Mako

How is COVID-19 Impacting NC's Small Businesses?

The Institute, in partnership the Latin American Chamber of Commerce of Charlotte, Carolinas-Virginia Minority Supplier Development Council, Hispanic Contractors Association of the Carolinas, NC Vet Biz Association, Disability: In NC, LGBT Chamber of Commerce, Urban League of Central Carolinas, and several other community partners, surveyed small diverse owned business with 50 or less employees to better understand how COVID-19 is impacting businesses in North Carolina.

We had 468 responses in a 5-day time frame.  The majority of responders are sole proprietors with less than 10 employees.  The results are both concerning and encouraging.  Six key recommendations for state and local government officials were identified from the survey results.  Read the full survey results to learn more.

Community Partners

The following community partners are part of the coalition created to survey small businesses in North Carolina.  These partners can also provide supports to small businesses around our state.

Small Business Resources

Nationwide Resources

Statewide Resources

Regional Resources

County & City Resources

Nonprofit Business Resources

Individual Resources

Basic Needs Resources

Veterans' Resources

A special thanks to LATINA Style, Inc. for sharing these veterans' resources.