Microenterprise Forgivable Loan

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MICROENTERPRISE FORGIVABLE LOANS

Microenterprise Loans 

Qualifying Burlington businesses with five employees or fewer can apply for forgivable loans of up to $7000.  Funds must be used for approved expenses related to COVID-19 impacts. The business owner or over half of employees of the business must have low- or moderate-income as defined by HUD to be eligible.    

 

“Small businesses and their employees continue to endure COVID-19 hardships, with many still not near recovery. We hope mobilizing this funding can help some Burlington shops and staff get back to business,” said City of Burlington Economic Development Director, Peter Bishop. 

 

Microenterprise Loans will be accepted and reviewed on a first-come, first-serve basis by the City’s Economic Development Office until funds are exhausted. For more information about Microenterprise Loans, contact Blake Moyer via phone at 336-222-5081 or via email bmoyer@burlingtonnc.gov

 

If your business has received any federal assistance during the COVID-19 pandemic (for example PPP or EIDL Loans), please call our office before completing your application to learn if this will effect your eligibility. 


Applications available here: https://portal.neighborlysoftware.com/BURLINGTON/ParticipantSelect Microenterprise Loan Application


CDBG Microenterprise Loan Program Guidelines


CDBG Microenterprise Loan Frequently Asked Questions