BUSINESS INVESTMENT GRANT PROGRAM
The purpose of the Orange County Business Investment Grant Program is to stimulate successful non-farm Business Investment development and expansion in Orange County.
SMALL GRANT ($1,500 or less) Use of Funds – Priority will be given to ventures demonstrating a clear need for grant funds to grow their business, hire additional staff, grow the commercial tax base, and/or create a significant social and economic impact in the County.
LARGE GRANT ($1,500.01 – $10,000) High Potential Founders – Although all applicants will be considered, business owners who exhibit the following characteristics will be given priority:
a. Have a thorough understanding of their market
b. Have assembled a talented team
c. Have a passion for building their venture in Orange County High Potential Ventures – Priority will be given to “growth” ventures capable of expanding rapidly, renting office space in Orange County, and hiring Orange County employees.
Use of Funds – Priority will be given to applicants demonstrating a clear need for grant funds to grow their business, hire additional staff, grow the commercial tax base, or create a significant social impact in the County.
AGRICULTURE ECONOMIC DEVELOPMENT GRANT PROGRAM
The “Agriculture Economic Development” grant program will assist local farmers to develop new sources of agricultural income through the provision of cost-share grants. Individual grant limit is $10,000. Applicants must be able to demonstrate that their operation is a verifiable farm business. The farm tract and farming operation on which the funds are to be used must be in Orange County.
A small subcommittee of members from the Orange County Economic Development Advisory Board, the Farmland Preservation Board, and other relevant staff will meet quarterly to review applications and make decision on possible awards. For further information, consult the Orange County Economic Development office at (919) 245-2327.
Grant funds received from the Business Investment Grant or Agriculture Grant programs could increase your tax liability. Please check with your tax advisory and plan ahead.
SMALL BUSINESS LOAN INFORMATION:
The Small Business Loan Fund was established several years ago by the county’s Economic Development department to support the growth of local businesses and is available to Orange county residents with an equity contribution of at least 10% in the business. The loan fund is managed by a Board of Directors comprised of small business owners, bank representatives and representatives from several County departments.
Orange County is fortunate to be home to a great number of entrepreneurs, and the County Commissioners have taken decisive action to support the growth of this very important component of our economy.
Orange County’s Small Business Loan Program is a revolving loan fund designed to foster small business development and expansion of local companies that may have limited access to conventional financing. This program is open to small businesses located in Orange County with gross revenues of less than $3 million annually. The program is managed through the County’s Economic Development office and administered by a volunteer board of directors composed of local business owners, bankers and staff representing several Orange County departments.
For more information on this program contact Amanda Garner at Orange County Economic Development, 919-245-2325 (firstname.lastname@example.org).
The Small Business Loan Fund is not currently accepting applications.