Orange County NC Website
Browse       Search
Esbfp 070120 v1 <br /> <br />Exhibit A – Emergency Small Business Funding Program Policies and <br />Procedures <br /> <br />PURPOSE <br /> <br />The Orange County Board of County Commissioners (BOCC) adopted the Emergency Small <br />Business Funding program on March 24, 2020 in response to the coronavirus pandemic. The <br />purpose of the Emergency Small Business Funding Program is to provide capital to small <br />businesses that experience significant financial loss during an emergency or economic crisis <br />Additional funding was allocated to the program by the BOCC on Tuesday, June 2, 2020. <br /> <br />PROGRAM ADMINISTRATION <br /> <br />The Economic Development management and Chief Financial Officer will provide program <br />administration. The formation of a Funding Committee will provide grants to eligible small <br />businesses. The maximum award is $5,000 for grants. <br /> <br /> <br />COMMITTEE STRUCTURE <br /> <br />The Funding Committee composition includes: <br /> <br />1. Two members from the County’s Small Business Company non -profit <br /> <br />2. Two members from the Small Business Grant program <br /> <br />3. Two members from the Agriculture Grant program <br /> <br />4. One member each from the Towns of Carrboro, Chapel Hill and Hillsborough. <br /> <br />The Funding Committee responsibilities are: <br /> <br />1. Review and Approve Financial Scoring Criteria <br /> <br />2. Review and Approve County Ranking <br /> <br />3. Approve Grant Awards <br /> <br /> <br />PROCEDURES <br /> <br />1. Business applicants upload applications, financials and tax data by deadline. <br /> <br />2. County staff will inform business applicants deemed ineligible in writing. <br /> <br />3. County staff will inform awardees in writing of the Funding Committees decision. <br /> <br />DocuSign Envelope ID: 0DD4B16E-B97A-422A-8B0B-216E357951B5