Loans & Grants
There are two business assistance programs available through the City of Raleigh available to businesses in Downtown Raleigh. For help in starting a business, please contact the NC Small Business and Technology Development Center.
The first business assistance program is a façade grant of up to $10,000 provided by the City of Raleigh. The grant is a matching grant, meaning that the City will match money that a property owner or tenant uses to improve a façade or storefront. For more information about the façade Grant program, please contact Carter Pettibone.
The second business assistance program is a low interest loan of up to $50,000 also provided through the City of Raleigh. Requirements for the low interest loan program include:
- Business must be taking at least 5,000 square feet, which can include an outdoor seating area if part of the business
- Business must be restaurant, retail or entertainment use
- Funds can be used for hard costs that will remain in the space, i.e. built in equipment is acceptable, movable furniture is not
- Loans only available to businesses not currently located Downtown, or those that will be displaced due to threat of condemnation
- Hours of operation much include Friday and Saturday evening, and/or some Sunday hours
- Business must comply with new design guidelines for Fayetteville Street
- Applicant must submit all personal and financial information, along with business plan, as required by the city of Raleigh Small Business Success Program
- Business must be deemed by Downtown Raleigh Alliance committee as not competitive for private sector lending
For more information about this opportunity, contact Luther Williams in the City of Raleigh Administrative Services.