WILMINGTON, N.C. (WECT) - For the third time, Cape Fear Community College (CFCC)'s Small Business Center has received $50,000 from the NC Legislature to assist local businesses impacted by COVID-19.
“Cape Fear Community College is fortunate to receive a third distribution of $50,000 to assist local businesses,” said director of CFCC’s Small Business Center Jerry Coleman. “We’ve been able to move funding to directly assist businesses that are really hurting.”
The first time CFCC received $50,000, so did other North Carolina community colleges. CFCC has since been awarded the funding two more times.
“CFCC’s Small Business Center is a tremendous resource for local businesses,” said CFCC president Jim Morton. “We have used every dollar to make an impact locally and are very fortunate to receive a third allocation.”
The Small Business Center at CFCC provides free seminars and counseling to entrepreneurs and small business owners. Extra funding will help provide the tools small businesses need to survive the pandemic.
“Our average investment is $1,800 per client,” said Coleman. “Each situation is different, and we tailor our assistance on a case-by-case basis. These funds must be used for professional services that can improve the bottom line for businesses quickly.”
Each business is thoroughly vetted for eligibility for funding.
All funds must be distributed by December 31, 2020 so entrepreneurs and small business owners are encouraged to call CFCC’s Small Business Center at (910) 362-7216 to determine eligibility.