The Greensboro Chamber of Commerce has been very active in delivering useful information to citizens and businesses amid the COVID-19 pandemic. One topic, in particular, was too relevant not to share with our partners and other small to medium-sized business owners in the state. Small Business Disaster Relief Loans are now an option for many businesses in North Carolina as a result of the public health crisis.

These low-interest, working capital loans are available to those in affected disaster areas.

If you want to know more about the Small Business Disaster Relief Loans, whether you qualify, and how you can apply for these funds, please watch the full action call – HERE.

You can apply online – HERE.

North Carolina Small Business Disaster Relief Loans FAQ


Low-interest working capital loans of $2 million or less for small businesses and certain nonprofits.


Any small business impacted by COVID-19. Business owners should apply even if they don’t have the best credit or if they can’t prove they’ve exhausted all other means. Additionally, the SBA does not deny disaster loans solely on a business’s inability to provide collateral. If you are denied, you can reapply in 60 days.

Exclusions for the loans include religious and charitable organizations; farmers and ranchers, who are eligible for USDA loans; and small businesses that derive more than 1/3 of their revenue from gambling.


The purpose of economic injury disaster loans is to restore businesses to their pre-crisis state. The money can be used to pay for necessary business expenses like payroll, mortgage or rent payments, and inventory. It can’t be used to expand your business or consolidate past debts.


Apply as soon as possible to get the maximum amount of funding. You will submit your application online, but the SBA recommends looking through the paper application first so you’ll know what you need.

All businesses will need to provide:

  • Tax Information Authorization (IRS Form 4506T) for the applicant, principals, and affiliates.
  • Complete copies of the most recent federal income tax return.
  • Schedule of Liabilities (SBA Form 2202).
  • Personal Financial Statement (SBA Form 413).

Some businesses will need to provide:

  • Complete copy, including all schedules, of the most recent federal income tax return for principals, general partners, or managing members and affiliates.
  • If the most recent federal income tax return has not been filed, a year-end profit-and-loss statement and balance sheet for that tax year.
  • A current year-to-date profit-and-loss statement.
  • Additional Filing Requirements (SBA Form 1368) providing monthly sales figures.

About Encompass Solutions

Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of the Industry.