ELIZABETHTOWN — A second disaster recovery program from a nonprofit subsidiary of the N.C. Rural Center has been launched.
Resilient Recovery Loans are Thread Capital’s long-term loans for extended challenges faced during a business’ recovery from a natural disaster. This includes mitigating for future disasters, repairing physical damage and recouping significant economic losses.
The loan is designed to ensure the business is fully stabilized and is able to handle future economic shocks, a news release says.
Small businesses with at least one employee, including the owner, can apply for loans of up to $250,000. The period of the loan can be up to 10 years.
Thread Capital also offered the Rapid Recovery Loan program, an expedited bridge loan up to $50,000 at zero percent interest for six months.
To apply, go online to threadcap.org/disaster-recovery. More information is available at threadcap.org.
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