Loans introduced for small businesses still impacted by Hurricane Matthew

KINSTON, N.C. (WNCT) — Hurricane Matthew relief effort is not a phrase that has been talked about lately, but today that changed as Carolina Small Business Development Fund brought a loan program to Lenoir County.

“Reliable, trustworthy loan fund for small businesses accessing capital through traditional sources of capital,” says Patrick Doran, Vice President of Business Development for North Carolina Small Business Development Fund.

To remind businesses they have not been forgotten – “Small business are kind of the heart of the community,” says Doran. “And are also supported to get back on their feet and thrive more if we do our job of getting this money out to them.”

For Kinstonian family buffet, this new loan program is going to help a lot. They are still trying to catch up after the devastation from the hurricane.

“Some of the business has came back but a lot of it has not and what has come back,” says Sandra Jenkins, owner of Kinstonian family buffet. “We’re still trying to pay the plumber, the electrician, and stuff like that…stuff the insurance would not pay.”

The $8000 a year for flood insurance just was not and is still not cutting it.

“I’m not making anything, and the little I do make, I put right back into this building,” says Jenkins.

But now there’s hope for Ms. Jenkins with the North Carolina Small Business Recovery fund, “If I could get another loan I could put two new air conditioners in here!”

This would give Jenkins another room full of hungry customers, paying Hurricane Matthew off the debt menu.

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