Carrboro Lends a Hand

BUSINESS

From Staff Reports

Armadillo Grill, The Artscenter and the Community Worx thrift shop are among 10 Carrboro-based small businesses and non-profits receiving grants from a second round of funding from the town designed to help ease the economic impact of COVID-19.

“Now more than ever, local businesses need our support,” said Carrboro Town Manager David Andrews. “Even as they slowly reopen, the coronavirus crisis has dealt a serious blow to small businesses. This relief is one way to help preserve the local character of our community.”

The businesses and non-profits will receive a total of $187,500 as part of the Carrboro Emergency Loan and Grant Fund. Each entity will receive a zero-interest loan of up to $25,000. The money is designed to help the businesses and nonprofits with short-term payroll and other recurring expenses.

The Carrboro Town Council approved the funding mechanism on March 24, and so far has allocated more than $398,000 to assist local businesses and non-profits. The first round of funding went to 11 small business and nonprofits.

For this second application period, the COVID-19 Loan/Grant Review Committee reviewed 21 applicants. Each applicant had to be based in Carrboro for at least three months and be in current good standing with creditors, but be low on capital to maintain operations. Each business was assigned a random number to ensure a confidential and non-biased process for the review committee.

The other businesses and nonprofits receiving money in the second round are Ali Cat Toys, Be Pure Beauty, Creative Electric, Lazarus Repairs, Pilot Mission, Twin House Music and Wax Poetic.

There is now $76,700 remaining in the fund.