City of Durham and Durham County

Small Business Recovery Loan Fund

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Thank you for your interest in the Durham Small Business Opportunity Loan Fund. The City of Durham and Durham  County have established the fund to support small businesses in the community. The program that began as the Small Business Recovery Fund during the height of the Covid-19 shutdown will now expand its sreach  beyond disaster recovery by uplifting local businesses as they grow and thrive. Financing is available for loans in the amount of  $5,000 to $35,000
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We're Here to Help
The Carolina Small Business team is available to answer any questions about this program via this Email
vgarcia@carolinasmallbusiness.org
 Due to the volume of inquiries, we ask that you please review the program website and FAQ document before emailing. You can expect a reply in 4-5 business days.
Eligibility Verification
Please confirm that each of the following statements is true by typing 'Yes' next to each one. If any statement is not true, the small business does not qualify for this program.
. Incomplete
Please enter 'Yes' (case sensitive) beside each field in the 'Eligibility Verification' section to proceed
Business Information
Same Address?
Billing Information
Business Structure
Corporation Structure State
Business Primary Activity
Activity Code
Financing Requested
What is the total loan amount you are you requesting? The minimum amount is $5,000 and the maximumamount is $35,000. Please enter a numerical value without commas or dollar signs ("35000" and not "$35,000").
Use of Financing
Financial Condition
COVID-19 Impact Statement
Business Ownership Summary
100% ownership
You have indicated that you are the sole owner of the business with 100 percent ownership. Please enter your information below.
Primary Owner Contact Information
Enter the contact information  . Please note social security numbers should be entered without dashes ("123456789" and not "123-456-789").
Business Information
Primary Owner Personal and Financial Documents
unexpired driver's license (front and back). If you don't have adriver's license, you may also upload any other government-issued identification.To ensure quick processing, name the file you upload _Identity.
Please do not use hyphens ("-") in uploaded files.  
Personal Tax returns
Please upload personal tax returns for the last two most recent years. If you have not yet filed for last year, upload the most recent filings. To ensure quick processing, name the file you upload Personal_Taxes. Please do not use hyphens ("-") in uploaded files.Note: Though we request tax return information from all owners, this information will not be used in the process to determine your eligibility for the loan. It will only be used to provide summary reports on the income level of the applicant pool.
Primary Owner Demographic Information
We request that you provide the below demographic data to be in compliance with federal regulations. In addition, organizations which provide grant funding to us require that we ask some demographic questions not required by law. You must answer each question, but you may select "Decline to State" for any question.  Federal law forbids discrimination on the basis of the below information, including whether you choose to furnish it.  If you choose to not furnish this information, federal regulations require that we note gender, race, and ethnicity on the basis of visual observation or surname.  For more information about the demographic terms below, please see our website. 
The below questions will be asked for each business owner
Less than 100% ownership
You have indicated that you are not the sole owner of the business with 100 percent ownership. what is your ownership percentage ?
Other Business Ownership 
For each business owner, type their name and indicate their percent ownership in  Please note this must total 100%.
Hidden Totals
Second Owner Contact Information
Enter the contact information  . Please note social security numbers should be entered without dashes ("123456789" and not "123-456-789").
Business Information
Personal Tax returns
Please upload personal tax returns for the last two most recent years. If you have not yet filed for last year, upload the most recent filings. To ensure quick processing, name the file you upload Personal_Taxes. Please do not use hyphens ("-") in uploaded files.Note: Though we request tax return information from all owners, this information will not be used in the process to determine your eligibility for the loan. It will only be used to provide summary reports on the income level of the applicant pool.
Second Owner Personal and Financial Documents
unexpired driver's license (front and back). If you don't have adriver's license, you may also upload any other government-issued identification.To ensure quick processing, name the file you upload _Identity.
Please do not use hyphens ("-") in uploaded files.  
Second Owner Demographic Information
We request that you provide the below demographic data to be in compliance with federal regulations. In addition, organizations which provide grant funding to us require that we ask some demographic questions not required by law. You must answer each question, but you may select "Decline to State" for any question.  Federal law forbids discrimination on the basis of the below information, including whether you choose to furnish it.  If you choose to not furnish this information, federal regulations require that we note gender, race, and ethnicity on the basis of visual observation or surname.  For more information about the demographic terms below, please see our website. 
The below questions will be asked for each business owner
Third Owner Contact Information
Enter the contact information  . Please note social security numbers should be entered without dashes ("123456789" and not "123-456-789").
Business Information
Personal Tax returns
Please upload personal tax returns for the last two most recent years. If you have not yet filed for last year, upload the most recent filings. To ensure quick processing, name the file you upload Personal_Taxes. Please do not use hyphens ("-") in uploaded files.Note: Though we request tax return information from all owners, this information will not be used in the process to determine your eligibility for the loan. It will only be used to provide summary reports on the income level of the applicant pool.
Third Owner Personal and Financial Documents
unexpired driver's license (front and back). If you don't have adriver's license, you may also upload any other government-issued identification.To ensure quick processing, name the file you upload _Identity.
Please do not use hyphens ("-") in uploaded files.  
Third Owner Demographic Information
We request that you provide the below demographic data to be in compliance with federal regulations. In addition, organizations which provide grant funding to us require that we ask some demographic questions not required by law. You must answer each question, but you may select "Decline to State" for any question.  Federal law forbids discrimination on the basis of the below information, including whether you choose to furnish it.  If you choose to not furnish this information, federal regulations require that we note gender, race, and ethnicity on the basis of visual observation or surname.  For more information about the demographic terms below, please see our website. 
The below questions will be asked for each business owner
Fourth Owner Contact Information
Enter the contact information  . Please note social security numbers should be entered without dashes ("123456789" and not "123-456-789").
Business Information
Personal Tax returns
Please upload personal tax returns for the last two most recent years. If you have not yet filed for last year, upload the most recent filings. To ensure quick processing, name the file you upload Personal_Taxes. Please do not use hyphens ("-") in uploaded files.Note: Though we request tax return information from all owners, this information will not be used in the process to determine your eligibility for the loan. It will only be used to provide summary reports on the income level of the applicant pool.
Fourth Owner Personal and Financial Documents
unexpired driver's license (front and back). If you don't have adriver's license, you may also upload any other government-issued identification.To ensure quick processing, name the file you upload _Identity.
Please do not use hyphens ("-") in uploaded files.  
Fourth Owner Demographic Information
We request that you provide the below demographic data to be in compliance with federal regulations. In addition, organizations which provide grant funding to us require that we ask some demographic questions not required by law. You must answer each question, but you may select "Decline to State" for any question.  Federal law forbids discrimination on the basis of the below information, including whether you choose to furnish it.  If you choose to not furnish this information, federal regulations require that we note gender, race, and ethnicity on the basis of visual observation or surname.  For more information about the demographic terms below, please see our website. 
The below questions will be asked for each business owner
Fifth Owner Contact Information
Enter the contact information  . Please note social security numbers should be entered without dashes ("123456789" and not "123-456-789").
Business Information
Personal Tax returns
Please upload personal tax returns for the last two most recent years. If you have not yet filed for last year, upload the most recent filings. To ensure quick processing, name the file you upload Personal_Taxes. Please do not use hyphens ("-") in uploaded files.Note: Though we request tax return information from all owners, this information will not be used in the process to determine your eligibility for the loan. It will only be used to provide summary reports on the income level of the applicant pool.
Fifth Owner Personal and Financial Documents
unexpired driver's license (front and back). If you don't have adriver's license, you may also upload any other government-issued identification.To ensure quick processing, name the file you upload _Identity.
Please do not use hyphens ("-") in uploaded files.  
Fifth Owner Demographic Information
We request that you provide the below demographic data to be in compliance with federal regulations. In addition, organizations which provide grant funding to us require that we ask some demographic questions not required by law. You must answer each question, but you may select "Decline to State" for any question.  Federal law forbids discrimination on the basis of the below information, including whether you choose to furnish it.  If you choose to not furnish this information, federal regulations require that we note gender, race, and ethnicity on the basis of visual observation or surname.  For more information about the demographic terms below, please see our website. 
The below questions will be asked for each business owner
Business Documentation
The below business documents are required to complete your application. If you are uploading files that arepassword protected, you must enter the password for that file.
Please note that if uploaded files are incomplete, or contain passwords that you did not disclose, it may significantly delay processing.
Corporation Bylaws
Operation agrement
Tax Returns
Please up load business tax returns for the last two most recent years. If you have not yet filed for last year ,upload the most recent filings. To ensure quick processing, name the file you upload Tax_Returns. Please do not use hyphens ("-") in uploaded files. 
Profit and Loss Statements
Upload your year to date profit & loss statement (dated within 60 days of this application). To ensure quick processing, name the file you upload Please do not use hyphens ("-") in uploaded files.
Balance Sheet
Upload your year to date balance sheet (dated within 60 days of this application). To ensure quick processing, name the file you upload Please do not use hyphens ("-") in uploaded files.
Recent Bank Statement
Please upload your most recent business bank statement.To ensure quick processing, namethe file you uploa Bank_Statement, Please do not use hyphens ("-") inuploaded files.
Debt Schedule
Please upload your debt schedule. If the business entity has no debt of any kind, upload a document stating this.
To ensure quick processing, name the file youupload debt_schedule.Please do not use hyphens ("-") in uploadedfiles
Lease Agreement / Mortgage Statement

Please upload your lease agreement or mortgage statement. If you are uploading a lease, please include any executed options to renew or extend the lease along with the original lease.  To ensure quick processing, name the file you upload Location Proof.  Please do not use hyphens ("-") in uploaded files.

ACH Information

Loan Proceeds Deposit and ACH Payment Authorizations
To expedite funds disbursement if approved, please provide the below information about the bank account where you wish loan proceeds to be deposited. This information will also be used to authorize direct payment (ACH) debits for your loan. 
Bank Information
Please enter the contact information of the banking institution where the applicant business bank account is located. If you are unsure, enter the information for the branch where you make deposits. 
Routing and Account Numbers

Enter the routing information for the above bank account. We ask you to enter routing information twice to verify the data. If you are unsure of where to locate the routing number, please see this example.  
Please enter the account number for the above bank account. We ask you to enter account information twice to verify the data. If you are unsure of where to locate the account number, please see this example
Voided Check Copy

Please upload a copy of a voided check for the above bank account. 
Bank account type
Authorization 
Please read the below statements carefully. After you are done, sign the bottom of this page with your mouse (if on a computer) or with your finger (if on a tablet or cell phone). By signing below, you indicate you have read/agreed to the below and that this agreement is in effect as of Today
Deposit of Loan Proceeds 

If approved, I (we) hereby authorize Carolina Small Business Development Fund to deposit all loan proceeds for which I (we) are approved at the financial institution named above. I (we) acknowledge that Carolina Small Business Development Fund cannot be held responsible if I (we) have provided incorrect bank information, and that incorrect information may substantially impede the processing time of any loan disbursements.
Direct Payment Agreement
If approved, I (we) hereby authorize Carolina Small Business Development Fund to initiate debit entries indicated at the depository financial institution named above, and to debit the same to such account.  I (we) acknowledge that the origination of ACH transactions to my (our) account must comply with the provisions of United States law. I (we) acknowledge that we must notify Carolina Small Business Development Fund of any bank changes at least 15 days in advance of the debit/due date. Finally I (we) agree that, in the event of a returned payment, Carolina Small Business Development Fund will charge a $42 fee.
Duration of Agreement
This authorization is to remain in full force and effect until Carolina Small Business Development Fund has received written notification from me (us) of its termination. I (we) agree that, if we terminate this agreement, we will provide Carolina Small Business Development Fund and the above named depository institution a reasonable time frame to terminate the agreement.