Mountain BizWorks and Golden LEAF Foundation Announce WNC Strong: Helene Business Recovery Fund
Oct 08, 2024 11:44AM ● By WNC Business
Helene Business Recovery Loans
The WNC Strong: Helene Business Recovery Fund was created to provide rapid recovery loans to small businesses suffering economic losses related to the impacts of Tropical Storm Helene. The fund is administered by Mountain BizWorks and made possible with support from The Golden LEAF Foundation, and an expanding list of other partners.
The WNC Strong: Helene Business Recovery Fund helps small businesses close the gap between when the disaster strikes and when federal loans, insurance payouts, and other disaster relief funds are approved, or businesses have time to recover and get back to business.
- For-profit established businesses
- At least 6 months of operating history
- Based in SBA-declared NC Helene disaster area
- Fewer than 100 employees
- Impacted by Tropical Storm Helene
- Rapid loan decisions & funding (aiming for 7-10 days)
- Designed to bridge to SBA, FEMA, insurance, or other long term recovery funding
- Streamlined online application process
- No credit score minimum*
- No closing costs or fees
- No prepayment penalty
- Defaulted loans are subject to commercial collection processes
*Credit history is considered
- Profit and Loss Statement – Current YTD
- Balance Sheet – Current YTD
- Most recent business tax returns (1 year)
- If less than one year of operating history:
- Business checking account statements (3 months)
- Copy of unexpired photo ID (ex. Driver’s License)
- Proof of business address (if applicable)
Mountain BizWorks designed this loan process to be as streamlined as possible. Once the online application is complete, they anticipate that the Mountain BizWorks disaster funding specialist will provide a decision within one week and funds will be scheduled shortly after. *Loan demand may impact this timeline.
Learn more and apply at ountainBizWorks.org/Helene/Fund.
Source: Mountain BizWorks