COVID-19 Response
At the Wake Forest Business & Industry Partnership, we want to hear stories of how your business is adapting and innovating in the midst of COVID-19 and how your business might be uniquely engaging the fight against the pandemic. Please let us know below how your businesses is adjusting, we want to tell your stories!
Business Response Questionnaire
WFBIP: COVID-19 News & Resources
Open Letter to the Wake Forest Business Community
It is a true honor to work alongside the wonderful business community we are privileged to serve. We begin by thanking you for the tremendous work you have done to make Wake Forest the special community it is and we want to assure you that we are and will continue to advocate for your interests in what has become an unprecedented, unpredictable season for all of us.
Featured Article: Advanced Design & Manufacturing
Even in the midst of a pandemic innovation is driving business in Wake Forest. For Drew Labarbera, owner at Atlantic Design & Manufacturing, a season of uncertainty is being met with unique ways to aid in the fight against COVID-19.
Discover SBA Financial Assistance for Small Businesses
As we seek to discern the WFBIP’s overarching role in standing with our businesses during this incredible season, our first response is to point you towards many of the resources, including financial, being made available to you as business owners.
Recommended:Wake County Economic Development COVID-19 Resource Page
Found here is a comprehensive and frequently updated collection of business-centered resources from the US Small Business Administration, Triangle and state-wide business resources, business operation tips and information, technology resources, healthcare resources, and general news.
Wake County COVID-19 Information
Wake County COVID-19 Business Guidance: http://www.wakegov.com/covid19/Pages/bizfaq.aspx
Wake County Business Guidance Hotline: 919.856.7420
Wake County COVID-19: Email covid19.questions@wakegov.com
Wake County Public Health Hotline: 919.856.7044 (Multiple languages available)
For additional information, please visit Wake County's COVID-19 web page.
Town of Wake Forest COVID-19 Information
Town of Wake Forest COVID-19 Municipal Information
Support our Local Restaurants: Wake Forest, NC
North Carolina Resources
North Carolina Chamber of Commerce Coronavirus Guide
NC Biotech Center COVID-19 Resources for NC Life Science Companies and Researchers
NC Department of Health and Human Services COVID-19 Response
North Carolina Department of Health and Human Services COVID-19 Hotline: 866.462.3821
Additional Business Resources
Golden LEAF emergency loan program
Small & Medium Manufacturing Company resources
What you need to know about the Golden Leaf Foundation’s NC COVID-19 Rapid Recovery Loan
What is it?
The NC COVID-19 Rapid Recovery Loan program supports North Carolina small businesses and family farms as they grapple with, and recover from, the economic impact of COVID-19.
The NC COVID-19 Rapid Recovery Loan Program is not a grant program. Repayment is expected either from more permanent funding sources or from the future cash flow of the business.
Who is eligible?
North Carolina businesses who have experienced a revenue loss due to COVID-19
Applicants must have at least one employee, who could be the self-employed owner
Start-up businesses that began before March 23
What are the financial terms?
Loans are available up to $50,000 based on the businesses current revenue - loan size capped at 2 months current revenue
Six months of no payments, followed by 48 months of principal and interest payments at 5.5% interest.
There are no prepayment penalties.
Defaulted loans are subject to collections.
What are the requirements?
Any individual with greater than 20% ownership in the applying business must personally guarantee the loan.
Proceeds from the loan may only be used for maintaining or restarting a business.
The use of loan funds to pay off debts already incurred for qualifying business maintenance or restart purposes may be authorized on a case-by-case basis.
Borrowers are required to assign the proceeds of future assistance programs, including SBA loans, to the repayment of their Rapid Recovery Loan.
How does the Rapid Recovery Program work?
Loan applications will be directed to the NC Rural Center, and distributed to non-profit lending partners for underwriting and servicing.
After the application is completed, the NC Rural Center connects applicants with one of seven statewide lenders. Applications are reviewed on a first come, first served basis.
Discover more Rapid Recover Loan FAQs here.
