Small Business Support for Covid-19
The City’s Office of Economic and Workforce Development stand ready to support the small business community as we navigate the Covid-19 pandemic together. Learn about resources available to assist you if you are a small business owner, or how to support businesses as a resident during this time. As the situation continues to evolve, please check this page often for new and updated information.
SBA Economic Disaster Loans
The US Small Business Administration is offering designated states, including North Carolina, low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
The loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
Learn more about these loans or apply.
Tax Penalty Relief
The North Carolina Department of Revenue is providing penalty relief for taxpayers affected by the Novel Caronavirus. Penalties being waived include:
- The penalty for failure to obtain a license (G.S. 105-236(a)(2);
- The penalty for failure to file a return (G.S. 105-236(a)(3))
- The penalty for failure to pay tax when due (G.S. 105-236(a)(4)); and
- The penalties regarding informational returns (G.S. 105-236(a)(10)).
Learn more about the penalty relief here.
Unemployment Information for Employees and Employers
Information from Durham Ecosystem Partners
Downtown Durham, Inc. (DDI) has put together a comprehensive website of information for downtown businesses and residents in need.
Discover Durham has a page with support information for hospitality industry partners.
Information for Restaurant Businesses
The North Carolina Restaurant & Lodging Association has created a summary page of information for hospitality businesses.
Information for Non Profits and Students
The Triangle Community Foundation has put together a list of resources for non-profit organizations and students.
Additional Ways to Support Small Business
There are many ways you can assist during this time.
- The 501 (c)(3) North Carolina Hospitality Workforce Relief Fund is accepting donations to support the state’s hospitality workers who have been negatively affected by the Covid-19 pandemic.
- Downtown Durham has put together a helpful list of ways to support hospitality workers and local business while still taking care to guard your health.
- Donate to the Triangle Restaurant Workers Relief Fund, which will provide direct grants to hospitality workers including wait staff, bartenders, hosts, managers, delivery drivers, cooks, catering staff, dishwashers, and other restaurant and bar workers.
- The Triangle Community Foundation has compiled a list of community efforts underway to raise funds to support the Durham community.