Morehead City’s new loan program starts 2nd round of applications

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MOREHEAD CITY, N.C. (WNCT) Beginning May 4 through May 18, Morehead City will be accepting a second round of applications for the Emergency Small Business Loan Program. 

13 local small businesses took advantage of Morehead City’s new loan program that was launched last month. 

All 13 of those businesses, which employ 70 people collectively, were awarded the loans that amounted to $43,000. 

“We are thrilled to see business owners take advantage of this loan program,” said Jerry Jones, Morehead City Mayor.  “The applicants reflect an assorted type of businesses, as well as a diverse geographic representation throughout the City.  We hope to continue to help more business owners and their employees through this difficult time.”

The program was created to help local small businesses (25 employees or fewer) through the COVID-19 crisis. 

It provides emergency, short-term loans, up to $5,000, to small businesses located within the city limits. 

The loan will help pay up to two months’ rent or mortgage/interest payments for selected businesses.

The City has allocated $300,000 to the program. 

Participating business owners will have up to three years to repay the loan, including no payments required for the first 12 months of the loan.  

There is also no penalty to pay off the loan early.

For eligibility information, or to apply, please visit: www.moreheadcitync.org

For application assistance or if any questions arise after reading the eligibility criteria, email: emergencyloan@moreheadcitync.org or call 252.726.6848 ext. 110 Monday-Friday 8 a.m. to 5 p.m. 

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