Updated Jan. 14: The pubic hearing will be held on Tuesday, Jan. 26, not Feb. 2, as the article originally stated.
Following up on the success of the previous One Buncombe Fund campaign, the Buncombe County Board of Commissioners approved a public hearing on providing more low-interest loans for small businesses during an emergency meeting on Jan. 12. The public hearing is a necessity for Commissioners to make the money available to the community and will be held on Tuesday, Jan. 26. On the heels of historical increases of COVID-19 cases and additional restrictions on business aimed at curbing the outbreak, the County is looking to provide financial assistance during this crucial time.
“I think this sounds terrific. The needs are large, and this is a modest contribution, but it's important for Buncombe County to do what it can,” stated Commission Chair Brownie Newman. “For local businesses, a few thousand dollars can be a lifeline to help get through the winter. I’m very supportive of this.”
The goal is to make $500,000 available through the One Buncombe Fund for low-interest loans for small businesses via the following funding streams:
- One Buncombe Fund’s remaining $50,000 balance
- Commissioners potential approval of additional $150,000 for the One Buncombe Fund
- Using partner assistance to raise $300,000
While no One Buncombe Fund money is currently available, individuals in need of immediate assistance, call the County’s Economic Services line at (828) 250-5500. If funding is approved, Buncombe County will provide application instructions on its website and to the media.