Directions For Completing Application

We want to ensure that NC Rapid Recovery is a good fit for your financing needs. In order to do so, we will work with you through the following process:

Application Part A. You’ll start by filling out a short form with a few basic questions.
Consultation. When we receive your application, we will schedule a phone conversation to learn more about you, your business goals, and your financial situation. By the end of this conversation we will provide either a pre-approval or guidance on what might be needed to get pre-approved in the future. We will also do our best to connect you with resources that can provide further assistance.
Application Part B. If you are pre-approved, we will ask you to complete Application Part B and submit documentation that is necessary to verify your income, expenses, assets, liabilities, etc.
Loan Review. Once we receive a completed application and all required documents, your loan will go through 2-3 steps of review to determine if you are approved. This process can take up to 2-3 weeks.
Loan Agreement and Funding. If you are approved, we will send you a loan agreement and other documents to sign, and then fund the loan electronically.

A few important notes:

Anyone with 20% or more ownership in the business is required to cosign on the loan. Cosigners may also be requested in other situations to help strengthen the loan application.
All co-signers must submit a separate Co-Application.
Please be sure to submit the most current and accurate information available. Final loan decisions are based on information that can be verified with documentation.
If you need to revisit any questions, you can use the menu at the top left of the page. Your answers are automatically saved so that you can come back to the application if needed.

COVID-19 Rapid Recovery Loans for Small Businesses

The North Carolina Rapid Recovery Lending program supports North Carolina small businesses and family farms as they recover from the economic impact of COVID-19.

Proud Partner of NCRR Program