FAYETTEVILLE, N.C. (WNCN) — A new program is available to help small businesses in Fayetteville.
From restaurants to hair salons, businesses continue losing money every day.
The city just approved a plan to help these places make it through the COVID-19 shutdowns.
Kathy Jensen’s dress shop An Affair to Remember has lost a lot of business because of the shutdowns.
“The trickle down effect is starting to hit,” Jensen said.
As the mayor pro-tem, she’s happy to have helped approved the small business loan program this week.
“Helping small business that just needs that extra cash flow to get them through the next month, because we just don’t even know what’s going to happen,” Jensen said.
Her business won’t be using it, but dozens of others can get loans for up to $5,000 through the non-profit Center For Economic Empowerment and Development, or CEED.
“Right away we can revolve and re-give, so it’s the best way to pay it forward as a small business right now during this pandemic,” said CEED Executive Director Suzy Hrabovsky.
So far, 120 people have already called about the loans, Hrabovsky said.
Businesses just need to have a recent tax return and credit score to apply.
“That will just get them over the hump and hopefully we get back to some kind of normalcy,” Jensen said.
Currently $250,000 is available through this program.
The deadline to apply is the end of May.
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