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