Welcome to Durham Business 360 - the City’s best resource for small business owners! Here you’ll find all the tools and resources you need to start and grow your business, as well as contracting information, grant and loan opportunities, and the latest news that matters most to you and your business.
The City of Durham and its Small Business Advisory Committee are ready to help you bounce back from the pandemic.
SBA Administrator Guzman Enhances EIDL Loan Program
Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program. EIDL is a federal disaster relief loan designed to support our small business communities still reeling from the pandemic. Some of the changes include: increasing the loan cap; the option for a deferred payment period; a 30-day exclusivity window for loans $500,000 or less; expanding eligible uses of funds; simpler affiliation requirements. Read more details about the EIDL here!
Shuttered Venue Operators Grant Awardees Can Now Apply for Supplemental Funding
If you received funding through the SBA's Shuttered Venue Operators Grant program, you may now be able to receive supplemental funds. The SBA is providing additional funding to those who received a SVOG grant and have showed a 70% loss in first-quarter revenue between 2021 and 2019. Applicants for supplemental funds can apply for any amount up to 50% of their original SVOG amount. Learn more and apply through the SVOG Portal.
SBA Opens PPP Direct Forgiveness Portal
On August 4, 2021, the SBA opened applications for Paycheck Protection Program (PPP) loan forgiveness. The portal is open to borrowers with a PPP loan of $150,000 or less, whose lenders have opted into the forgiveness process. If you aren't sure whether your lender has opted in, you can find out here. If you qualify for loan forgiveness, don't hesitate to apply through the SBA's portal today!