North Carolina Small Business Recovery Fund

North Carolina Small Business Recovery Fund

Raleigh, NC
Carolina Small Business

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The Concept

Fund provides low-interest loans to businesses affected by Hurricane Matthew, the western wildfires, Tropical Storm Julia or Hermine.

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Who's it for?

Entrepreneurs whos business were affected by Hurricane Matthew, the western wildfires, Tropical Storm Julia or Tropical Storm Hermine.

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What problem does it solve?

When a business is affected by a natural disaster, it can be devastating with what seems like no relief in sight.

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How does it help?

The Fund will provide a loan with a minimum of $1,000 that can be paid up to ten years.

Program Overview

Medical Arts Pharmacy is a unique neighborhood drugstore owned by devoted entrepreneur, Christina Washington, in Fayetteville, NC. After attending Pharmacy school in Cincinnati, Ohio, Christina moved to Fayetteville, NC, with her husband, where she’s been living now for 29 years. In 1993, Christina decided to open Medical Arts Pharmacy with a goal to offer the best services to her community. The Pharmacy specializes in prescriptions, home health supplies, diabetes education and offers free delivery. In October 2016, the Pharmacy was unexpectedly affected by Hurricane Matthew. The Pharmacy was flooded with up to 9 feet of water causing damage to the building and all inventory. Aside from these losses, Christina was no longer able to afford to pay her employees. That’s when Christina applied for Carolina Small Business Development Fund’s Emergency Bridge Loan Program and was able to obtain capital for inventory and retain her employees.

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