Open for Business Loan Application

Open for Business Loan Application

The Kerr-Tar Regional Council of Governments Open for Business Loan Program helps finance existing local small to medium size businesses throughout a 5-county region recover from the COVID-19 crisis. Eligible businesses should be small to medium size (1-99 employees) existing businesses who have been in business for at least 12 months, and must be located in Franklin, Granville, Person, Vance, and Warren counties. Documentation providing evidence of a loss in revenue since the start of the COVID-19 pandemic is required. Business owners may apply for a 5-10 year, interest free loan ranging from $10,000-$100,000. All loans will require a personal guarantee and some additional collateral. Funds may be used for working capital and/or equipment and require an application fee of $200. Standard loan terms of 10 years on equipment and 5 years on working capital. Flexibility in payback period will be considered if requested and approved by the COG Board. Years of business operation and proximity to downtown areas are weighted preferences for loan approval.
  • A. Contact Information

    Please provide the following information.
  • B. Business Information

    Please provide the following information.
  • Should your request be approved, each owner of 20% or more must sign the Loan Agreement.
  • Please be as specific as possible.
  • C. General Demographic Questions

    The following information is required for program reporting and statistical monitoring. Your response will not affect consideration of your application.
  • D. Loan Request

    Please provide the following information.
  • List available collateral to secure loan (e.g. vehicle, property, equipment). Click the + to add a new row.
    Assets available to secure this loan (describe)Asset ValueLoans on Asset 
  • Examples include: 1) Payroll, 2) Rent/Lease, 3) Inventory, 4) Equipment, 5) Other. Click the + to add a new row.
    Use of FundsAmount $ 
  • Check all that apply
  • E. Conflict of Interest & Assurances

    Please provide the following information.
  • In order to preclude any perceived or real conflict of interest, the applicant acknowledges that he/she has no familial, business or any financial relationship with any member of the Board of Directors or staff of the Kerr-Tar Regional Council of Governments. Further, the applicant certifies that he/she will not use any funds awarded through this loan to influence or attempt to influence an officer or employee of any federal or state agency or a member of Congress or the North Carolina General Assembly.
  • All loan proceeds will be used only for business-related purposes as specified in this loan application and consistent with the Coronavirus Aid, Relief, and Economic Security Act.
  • The business for which these funds will be used will not discriminate in any business practice, including employment practices and services to the public on the basis of race, color, national origin, race, color, religion, marital status, handicap, age, or national origin.
  • F. Required Documents

    Please download and complete the Certification of Downtown Business Operation and upload below.
  • If no tax returns, need other documentation of business revenue.
    Accepted file types: pdf, jpg, jpeg, gif, png, doc, xls, xlsx, docx.
  • Drop files here or
    Accepted file types: pdf, jpg, jpeg, gif, png, doc, xls, xlsx, docx.
  • If you do not have the requested documentation, please submit other financial records reflecting loss of revenue since March 1, 2020.
    Drop files here or
    Accepted file types: pdf, jpg, jpeg, gif, png, doc, xls, xlsx, docx.
  • Accepted file types: pdf, jpg, jpeg, gif, png, doc, xls, xlsx, docx.
  • For example, 2-3 most recent sales tax reports, drop in payroll, profit & loss statement, bank statement, or other documentation.
    Drop files here or
    Accepted file types: pdf, jpg, jpeg, gif, png, doc, xls, xlsx, docx.
  • Accepted file types: pdf, jpg, jpeg, gif, png, doc, xls, xlsx, docx.
  • Accepted file types: pdf, jpg, jpeg, gif, png, doc, xls, xlsx, docx.
  • Submit

    The undersigned hereby authorizes the Kerr-Tar Regional Council of Governments or any of its affiliates to make all inquiries with credit bureaus and others it deems necessary--including business counselors, consultants, and partnering agencies--to verify the accuracy of the information provided herein and to determine credit worthiness. Further, the undersigned hereby certifies that the enclosed application information is valid, accurate, and complete.
  • Date Format: MM slash DD slash YYYY