Ted Hall, President Montcross Area Chamber of Commerce
Stay at home orders in Gaston County and North Carolina have closed many small shops, restaurants and other businesses and severely curtailed services at many more. Federal disaster relief programs are coming, but immediate help is what's needed to keep local small businesses from failing.
That critical need is what prompted the professional staffs and City Councils in Mount Holly and Belmont to develop programs that can put checks in the hands of local businesses in days rather than weeks.
Mount Holly Small Business Loan Program
This loan program provides emergency, short-term loans to small businesses located within the city limits of Mount Holly for the purpose of paying up to three months' rent or mortgage payments of the business in order to secure the physical business location from eviction or foreclosure during this state of emergency. Loans to eligible small businesses are the actual monthly rental or mortgage payment of the business, not to exceed the sum of $5,000 per month for up to three months, which would be a total of $15,000 for each small business.
The city of Belmont will offer $400,000 in small business emergency loans to locally owned, non-franchise businesses located within the Belmont corporate limits as part of the City’s “Keep the Lights on in Belmont” program. Loans to eligible small businesses will be awarded in amounts up to $10,000 to help cover operating expenses until state or federal assistance is available or until the economic crisis passes.
SBA loans are also available during the pandemic. For more information about all these programs, businesses in the eastern half of Gaston County can contact the Montcross Area Chamber of Commerce at 704-825-5307. While the office is closed due to the pandemic, phones are still being answered and member services handled by phone and email.
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