$200 MILLION & $650,000 GRANTS Small Business Plus Easy Loans!
$200 million in small business loans targeting disadvantaged communities. PLUS $650,000 IN GRANTS AVAILABLE TO BLACK ARTISTS, DESIGNERS, AND SMALL BUSINESSES
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More than $200 million in small business loans is coming to North Carolina as part of an ongoing federal program to help disadvantaged businesses.
The State Small Business Credit Initiative has created thousands of jobs in the state already, and economic leaders are hoping to see an even bigger impact in the years ahead.
The announcement was made on Friday morning at a roundtable held at the NC Rural Center in Raleigh.
Attendees included the US Deputy Secretary of the Treasury and NC Commerce Secretary, who laid out how $202 million in American Rescue Plan funding would finance the effort.
This is the second stage of the SSBCI in North Carolina, which received $44 million in small business loans during the first offering back in 2012
State leaders said the SSBCI allows small businesses to receive loans that they otherwise wouldn’t be accepted for due to a lack of collateral, and the plan has made a significant impact in the state over the past decade.
Finally, Instagram is teaming up with the Brooklyn Museum to debut the 2022 #BlackVisionaries Program to provide $650,000 in grants to Black artists, designers, and small businesses.
This year’s round calls for 10 creators to obtain essential funding. That includes five Visionary Small Business Grants of $100,000 for Black designers.
Five Emerging Visionary Grants of $30,000—with the backing of Meta Open Arts—will be for people centered on arts and design based in the United States.
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