Wake Forward

COVID-19 has changed the landscape of our communities in ways we never could have imagined.

While each of us has been affected, small and independently owned businesses have certainly felt the brunt of the impacts.

Recognizing that small businesses are the backbone of our community, Wake County has launched Wake Forward, a small business relief program that aims to provide loans to small business owners struggling financially due to COVID-19. The goal is to help them in the short-term, so they can get back on their feet in the long-term.

Wake Forward allocates $5 million in total to support small businesses in Wake County, with $1 million of that funding set aside for sole proprietor businesses.

The program, which is administered by the NC Rural Economic Development Center Inc., enables small businesses to apply for two months of lost revenues, up to $50,000.

To be considered for Wake Forward funding, businesses must:

Be located in Wake County

Have between 1 – 100
full-time employees

In addition to the above criteria, applicants must meet other criteria, as outlined by NC Rapid Recovery. To read those requirements, visit NCRapidRecovery.org or email NCRapidRecovery@threadcap.org.

Small business owners who receive loans through the program will make no payments for six months. They will then be responsible for paying the principal, along with interest payments at 5.5%, for the following 48 months.

Please note, businesses who apply for both the NC Rapid Recovery loan and the Wake Forward loan program are not eligible to receive a loan from both programs. If you have already applied for the NC Rapid Recovery program, you are automatically considered for the Wake Forward program.

Wake Forward Small Business Program