COVID-19 Business Information

Local Minority Business Enterprise Grants

Greater Winston-Salem Inc.’s Fall 2021 MBE Grant program will provide up to $25,000 to Black and Latinx-owned local businesses to assist in COVID-19 economic recovery. Applications will open in October, with an exact date to be announced soon. Register for a virtual “how-to” session Oct. 4 to learn how to prepare a grant application. Learn more.

Paycheck Protection Program (PPP)

The Small Business Administration is offering fully or partially forgivable loans (with a one percent interest rate) to assist small businesses with keeping staff employed. Self-employed individuals and independent contractors are also eligible, and the amount that can be given is based on your monthly payroll. Loan maturity is two or five years. The deadline to apply is May 31, 2021.  Learn more

Covid-19 Economic Injury Disaster Loan (EIDL)

The Small Business Administration is offering a loan (a fixed 3.74 percent for businesses and 2.75 percent for nonprofits) to assist both non-profits and businesses to meet financial obligations and pay operating expenses. Mid-sized agricultural businesses are also eligible, and the amount can be up to $500k. Loan maturity is 30 years. The deadline to apply is December 31, 2021. Learn more.  

Shuttered Venue Operations Grant Program

The Small Business Administration is providing grants to the operators of theaters, live venues, performing arts organizations, museums, talent representatives, and others that have suffered economic losses because of the pandemic. The maximum grant amount is $10 million or equal to 45 percent of 2019 gross earned revenue. The application opened April 26 and is being accepted on a rolling basis. Entities that suffered the the largest revenue loss will be prioritized. Learn more.

Small Business Administration Debt Relief

The Small Business Administration offers debt relief to existing SBA loan borrowers whose businesses have been impacted by COVID-19. Learn more.

SBA Cross-Program Eligibility

How do you know which SBA program is best for you? Learn more.

Minority Business Enterprise Grant Program

A new grant program offers funding for COVID-19 relief to Black and Latinx-owned small businesses in Winston-Salem and Forsyth County. The Minority Business Enterprise (MBE) grant fund is focused on improving business success, job retention, and job creation for minority-owned businesses. Learn more. 

Mortgage, Utility, and Rent Relief (MURR) Program

If your business has experienced extraordinary business disruption and it has not been able to open due to the COVID-19 coronavirus pandemic, the new Mortgage, Utility and Rent Relief (MURR) Program may be able to offer assistance with some of your fixed costs. Learn more

Micro-Loan Recovery Program

The Piedmont Triad Regional Development Corporation has established a Revolving Loan Fund (RLF). This RLF will provide micro-loans to small businesses suffering from economic injury as a result of COVID-19 across the 12-county Piedmont Triad Region. To learn more about eligibility requirements and how to apply for the program.

Workplace Restart

The Piedmont Triad Regional Workforce Development Board has developed a two-module training program to help prepare small businesses to be able return to work with the appropriate precautions for their team. Learn more

Small Business Relief Grant Program

Greater Winston-Salem, Inc. and the Downtown Winston-Salem Partnership have launched a grant fund for small businesses in Forsyth County who have been impacted by COVID 19. Learn more about eligibility and how to apply.

PBRC COVID-19 Small Business/Nonprofit Initiative

The North Carolina Pro Bono Resource Center (PBRC) has implemented a new initiative to provide pro bono legal consultations to small businesses and nonprofits with fewer than 25 employees. Learn more.

Save Small Business Fund

The Save Small Business Fund is a grant-making initiative offering short-term relief for small businesses from the U.S. Chamber of Commerce Foundation. Find out if your business is eligible and how to apply.

Main Street Lending Program

The Main Street Lending Program (MSLP) is a new lending program being offered by the Federal Reserve (The Fed) to provide relief for businesses during the COVID-19 pandemic and accompanying economic downturn. Learn more.

North Carolina COVID-19 Rapid Recovery for Small Businesses 

In response to the unique economic challenges of COVID-19, a consortium of public, private, and nonprofit partners have come together and launched an innovative recovery-lending program to help support entrepreneurs and stabilize our small business sector. Learn more.  

Small Business Administration (SBA) Disaster Assistance Loans 

The SBA provides low-interest disaster loans to help businesses recover from declared disasters, including COVID-19. Learn more. 

CARES/Paycheck Protection Program 

The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. Here is a helpful PDF to explain how to obtain this assistance.

You can find additional information here: CARES: What Small Businesses Need to Know.

Greater Winston-Salem, Inc. Covid-19 Support

Greater Winston-Salem, Inc. has links to additional small business resources. Learn more