The NC Main Street program is a comprehensive approach to downtown economic development. One of the crucial elements to a vibrant downtown is the healthy mix of local businesses. These local businesses are vital to revitalization and a thriving historic district.
Our staff and the local NC Main Street program leaders appreciate ALL the small businesses in NC that help us sustain our downtown districts.
This video series helps us to bring the small business owners to you. Let us all remember the importance of supporting local businesses in our communities today and every day.
Emergency Business Assistance
Uptown Lexington businesses have survived many local and national crises, however, most recently the pandemic of COVID-19 is threatening to devastate economies across the globe. Uptown Lexington was formed to assist and grow business. We cannot think of a time when our help is needed more. In response to growing concern from merchants on revenue, Uptown Lexington proposes to put a needs based assistance program into action effective April 1, 2020 with the ability to close the program at any time.
$30,000 until July 2020 with possibility of $25,000 additionally.
· Businesses can apply for up to $5,000 in funding from Uptown Lexington to assist with rent, utilities, salaries, and light inventory.
· Requests can be made up to 3 times as long as requests do not exceed the max.
This is a first come- first served basis with showing proof of need. Please only request what is absolutely necessary as we are trying to save as many Uptown businesses as possible. Applicants will be required to provide:
· Revenues for the month requesting from 2019
· Current rent
· Utility invoice for previous month
· Proof of salaries
Repayment of funds will begin in January 2021 with a minimum monthly payment of 5 percent of the principal borrowed. I.E. max amount borrowed $5,000 = $250 monthly payment until repaid (20 months). This is a zero percent interest loan to buffer through the economic downturn.
Applicant must request funds in writing, providing the aforementioned documentation. All documents will be reviewed by the Executive Committee or another duly formed committee. This program is open to all for-profit businesses within the Uptown District. Each award will be based upon need. Applicant must be willing to enter legal agreement with Uptown Lexington regarding repayment. Payment will be made directly to the business owner.
For more information:
Contact: Elizabeth McGee