Orange County NC Website
Browse       Search
Small Business Loan Fund <br /> Article 46 annual funding: $200,000 or 16% of total <br /> • Article 46 includes a provision to provide up to $200,000.00 annually in additional <br /> lending flexibility to Orange County's existing Small Business Loan Program. <br /> • The Program's current loan portfolio is supported by a separate source of revolving <br /> funds previously authorized by the BOCC, and no Article 46 monies have been <br /> required, to date, to supplement the Program. <br /> • There are no loan delinquencies in the Program's activity. <br /> Entrepreneurial & Incubator Support <br /> Article 46 funding: $100,000 or 8% of total <br /> Examples of Use: <br /> • "LaUNCh Chapel Hill" innovation center is funded 50/50 through an Interlocal <br /> Agreement between Orange County & Town of Chapel Hill. The Interlocal Agreement <br /> expires on 12/31/15. <br /> • Orange County will contribute $140,000.00 for 3 '/2 year through the initial Interlocal <br /> Agreement. UNC & private sponsors also contribute. <br /> • At the request of LaUNCh, the Town of Chapel Hill and UNC, staff will soon present to <br /> the BOCC a recommended proposal for a 3-year extension of the Interlocal Agreement, <br /> at the same annual cost, to continue the County's financial commitment to LaUNCh. <br /> Small Business Investment Grant <br /> Article 46 annual funding: $100,000 or 8% of total <br /> Summary of Grant Awards to date: <br /> • Grant program was approved by the BOCC in March 2015. <br /> • Subcommittee comprised of Orange County Economic Development advisory board <br /> members meet quarterly to review grant applications. <br /> • 8 initial grants totaling $61,712.00 were recently awarded in the program's first round of <br /> nd <br /> application reviews during the 2 Q 2015. <br /> • 5 applications were deferred until the second review period <br /> • 34 new and/or deferred grant applications requesting a total of$243,541.67 in grant <br /> awards have been submitted for the second subcommittee review meeting on Oct. 20, <br /> 2015. <br /> Small Business Investment Grant <br /> Article 46 annual funding: $100,000 or 8% of total <br /> Approved Grants: <br /> • Carrboro Community Acupuncture (Kim Calandra — business expansion) <br /> • Tempeh Girl (Beth May— sales expansion) <br /> • Woman Craft (Katherine Palomba — promotional <br /> activities) <br /> • Trill Financial (Simon Jung — computer testing equipment) <br /> • MasterPeace Barber (Mark Holt— repairs to business location) <br /> • Regulator Brewing (Anna McDonald Dobbs — marketing) <br />