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21 <br /> <br /> 1 <br />a. Final Report of Emergency Small Business Fund Program 2 <br />The Board received a report from staff on the Emergency Small Business Funding 3 <br />Program for Orange County small businesses experiencing revenue loss due to the coronavirus 4 <br />pandemic. 5 <br /> 6 <br />BACKGROUND: 7 <br />The coronavirus pandemic has impacted the global economy and disrupted business activity 8 <br />throughout the United States and North Carolina. The County is committed to supporting its 9 <br />local businesses and employment base. 10 <br /> 11 <br />The Board of County Commissioners approved an Emergency Small Business Funding for 12 <br />Orange County small businesses experiencing revenue loss due to the coronavirus pandemic. 13 <br />The emergency program was funded with $300,000 from the Article 46 Sales Tax Fund. Award 14 <br />recipients were eligible to receive grants and/or loans. The application period was from March 15 <br />25 through April 10, 2020. The BOCC approved formation of a Nine-Member Committee to 16 <br />review and approve the award recipients. 17 <br /> 18 <br />At the direction of the County Manager, the Finance and Administrative Services and Economic 19 <br />Development departments formulated the policies and procedures for the emergency program. 20 <br />Program eligibility requirements: 21 <br />- Orange County based businesses 22 <br />- Minimum of one year of operations 23 <br />- For-Profit business status 24 <br />- All applicants are required to have been in business for a minimum of one-year, hold 25 <br />applicable 2019 business privilege licenses, and be registered with appropriate legal 26 <br />entities such as the North Carolina Secretary of State or Orange County Register of 27 <br />Deeds office 28 <br />- Companies are not eligible if they have past-due tax liabilities or tax liens, 29 <br />delinquencies in Orange County property taxes, or are currently in bankruptcy 30 <br />(Corporate or Personal) 31 <br />- Profit and Loss statement indicating profitability prior to coronavirus pandemic 32 <br />The County received 283 applications by the April 10 due date, with 39 applications initially 33 <br />eliminated because they were duplicates (20), or submitted by businesses located outside of 34 <br />Orange County NC (19). This resulted in 244 County-wide small business applications as 35 <br />follows: 36 <br /> 37 <br /> <br />Location of <br />Applicants <br />Within Orange <br />County <br /> <br />Total Number of <br />Applicants <br /> <br />Grant Requests <br /> <br />Loan Requests <br /> <br /> <br /> <br />Total Loan & <br />Grant Requests <br />Carrboro 44 $226,000 $573,500 $799,500 <br />Chapel Hill 123 $588,800 $1,516,000 $2,104,800 <br />Hillsborough 62 $315,750 $909,910.82 $1,225,660.82 <br />Durham 2 $10,000 $20,000 $30,000 <br />Mebane 8 $40,000 $125,000 $165,000 <br />Rougemont 3 $15,000 $30,000 $45,000 <br />Cedar Grove 1 $5,000 $10,000 $15,000 <br />Hurdle Mills 1 $10,000 $20,000 $30,000