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DocuSign Envelope ID:7CE4BFEF-729B-4888-8D95-16CA1 B643E6F <br /> Exhibit A — Emergency Small Business Funding Program Policies and <br /> Procedures <br /> PURPOSE <br /> The Orange County Board of County Commissioners adopted the Emergency Small Business <br /> Funding program on March 24, 2020 in response to the coronavirus pandemic. The purpose <br /> of the Emergency Small Business Funding Program is to provide capital to small businesses <br /> that experience significant financial loss during an emergency or economic crisis. <br /> PROGRAM ADMINISTRATION <br /> The Economic Development management and Chief Financial Officer will provide program <br /> administration. The formation of a Funding Committee will provide both loans and grants to <br /> eligible small businesses. The maximum award is $5,000 for grants and $20,000 for loans. <br /> The program is funded by Article 46 Sales Tax revenue. <br /> COMMITTEE STRUCTURE <br /> The Funding Committee composition includes: <br /> 1. Two members from the County's Small Business Company non-profit <br /> 2. Two members from the Small Business Grant program <br /> 3. Two members from the Agriculture Grant program <br /> 4. One member each from the Towns of Carrboro, Chapel Hill and Hillsborough. <br /> The Funding Committee responsibilities are: <br /> 1. Review and Approve Financial Scoring Criteria <br /> 2. Review and Approve County Ranking <br /> 3. Approve Grant and Loan Awards <br /> REVOLVING FUND PROGRAM <br /> The program is designed to be a revolving fund program as to ensure a self-sustaining County <br /> financing source to support small businesses during periods of emergency, economic crisis, <br /> natural disasters, pandemics, and acts of God. <br /> PROCEDURES <br /> 1. Business applicants upload applications, financials and tax data by deadline. <br /> 2. County staff will inform business applicants deemed ineligible in writing. <br /> 3. County staff may recommend additional terms to enhance the loan security provisions. <br /> 4. County staff will inform awardees in writing of the Funding Committees decision. <br /> 5. County staff will provide a final report to the Manager and Board of County <br /> Commissioners. <br /> CREDIT ANALYSIS <br /> The Funding Committee shall review and consider a number of items in determining whether a <br /> grant or loan should be awarded, including the following: <br /> Esbfpgc 043020 v0.2 <br />