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23 <br /> <br /> Minimum of one year of operations 1 <br /> For-Profit business status 2 <br /> Minimum of one-year in business and applicable 2019 business privilege licenses, and 3 <br />registered with legal entities including North Carolina Secretary of State and County 4 <br />Register of Deeds Office 5 <br /> Businesses must not have past-due tax liabilities or tax liens, delinquent property taxes, 6 <br />or bankruptcy reorganization status 7 <br /> 2019 Profit and Loss statement indicating profitability prior to pandemic 8 <br /> 9 <br />Compilation of Funding Requests (chart) 10 <br />Breakdown of Awards by Location (chart) 11 <br /> 12 <br />Demographics of the 244 Applicants 13 <br /> Women Owned Applicants 14 <br /> - 90 out of 244 Applicants or 37% 15 <br /> Minority Owned Applicants 16 <br />- 34 out of 244 Applicants or 14% 17 <br /> Women Co-Owned Applicants 18 <br /> - 44 out of 244 Applicants or 18% 19 <br /> 20 <br />Demographics of the 27 finalists 21 <br /> Women Owned Finalists 22 <br /> - 13 out of 27 Finalists or 48% 23 <br /> Minority Owned Applicants 24 <br />- 3 out of 27 Finalists or 11% 25 <br /> Women Co-Owned Applicants 26 <br /> - 4 out of 27 Finalists or 15% 27 <br /> 28 <br />Three Key Financial Metrics 29 <br />1) 2019 Profit/Loss Statement 30 <br /> - Revenues minus Expenditures 31 <br /> - Operating Surplus (Deficit) 32 <br /> -Passing Metric: $0 or greater 33 <br />2) 2019 Net Profit Margin 34 <br /> - Net Income divided by Revenues 35 <br /> - Passing Metric: Positive % 36 <br /> 3) March 2019 versus March 2020 Revenue Variance 37 <br /> - Passing Metric: 25% or greater revenue decrease 38 <br /> 39 <br />Financial Criteria Results (chart) 40 <br /> 41 <br />Additional Small Business Funding Options 42 <br /> Additional Funding Options; Article 46 and Coronavirus Relief Funds; 43 <br /> Decrease from multiple Financial Criteria to only 1 criteria; 44 <br /> Finance Criteria-April 2019 versus April 2020 Revenue Declines 45 <br /> 46 <br />Commissioner Marcoplos asked if Piedmont Food Processing Center (PFAP) was one 47 <br />of the applicants that passed the financial criteria and was recommended to the committee. 48 <br />Gary Donaldson said no. 49 <br />Commissioner Price asked if Gary Donaldson could review the last slide again. 50