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Mailing Address:

Charlotte Mecklenburg Government Center
600 East 4th Street
Charlotte, NC 28202

Office Location:

Charlotte Mecklenburg Government Center
600 East 4th Street
Charlotte, NC 28202


Hours: Mon-Fri  8 a.m. - 5 p.m.


County Manager's Office

​Microbusiness Stabilization Fund FAQ

What are the eligibility requirements?

  • The business owner must have low or moderate income (< m80% Area Median Income) or 51% of employees are low or moderate income.  See income chart below to determine household income.   
  • The Business must have 5 or fewer employees, including owner(s); 
  • The business must have a physical location within the Towns of Cornelius, Davidson, Huntersville, Matthews or Pineville or be located in an ETJ/unincorporated areas of Mecklenburg County 
  • The business must have experienced a loss of income due to COVID-19 

What type of businesses can apply? 

All businesses – including veterans’ organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors – with 5 or fewer employees can apply.  

What businesses are NOT eligible to apply?

  • Businesses that are franchises, chains, or restricted to patrons above the age of 18 will not be eligible for award.   
  • Businesses located outside of the eligible geography.

How large can my loan be?   

The maximum amount of the loan can be for $10,000. 

What do I need to apply?   

You will need to complete the online loan application and submit the application with the required documentation. 

How do I determine my income eligibility?  

To determine if you meet the initial eligibility criteria please estimate your household income and determine where your income fits in the chart below.  You will be required to upload supporting documentation; acceptable documentation includes the most recent filed tax return for all household adults earning income, or W-2’s for all household earners.  Please make sure to remove all personal identifiers such as social security numbers from submitted documentation. 

Household Income Information

  • Household includes all persons living at your home including yourself.
  • Household income estimate is the combined total for all working adult members of the household.

Number of persons per household 









Extremely Low Income 









Low Income 









Moderate Income 









What documents will I need to submit to certify mine or my employee’s household income? 

  • For owner/employer submit your most recently filed personal tax return. 
  • For employees if your application is approved, you will be required to submit a copy of page 1 of the most recently filed 1040, 1040A or 1040EZ tax return, for each qualifying employee.

What can I use these loans for?  

You should use the proceeds from these loans toward your: 
  • Payroll costs 
  • Commercial mortgage obligations, incurred before March 14, 2020 
  • Rent, under commercial lease agreements in force before March 14, 2020; and 
  • Utilities, for which service began before March 14, 2020. 

What documents will I need to include in my application?   

A copy of the following documents, as applicable to your business for payroll costs: 
  • 2019 IRS Quarterly 940, 941 or 944 payroll tax reports 
  • Payroll reports (listing by employee; exclude any personal identifying information such as SSN or ID information) for the twelve-months of 2019 which will show the following information: 
  • Gross wages for each employee, including officer(s) if paid W-2 wages 
  • Documentation showing total of all health insurance premiums paid by the company owner(s) under a group health plan for 2019.  
  • Copy of commercial mortgage statement 
  • Copy of lease agreement 
  • Copy of most recent utility bills 
  • Copy of other reoccurring debt obligations 

What counts as payroll costs? 

  • Payroll costs include: 
  • Salary, wages, commissions or tips; 
  • Payments required for the provisions of group health care benefits including insurance premiums; 
  • State and local taxes assessed on compensation; and 
  • For a sole proprietor or independent contractor: wages, commissions, income or net earnings from self-employment, on an annualized basis for each employee. 

What are the loan terms? 

The loan has a maturity of 36 months at 0% interest.  The loan will be fully forgivable if the funds are used for payroll costs, commerical mortgage or rent payments, or utilities.   

Why must I agree to share financials and what does the review consist of?  

Federal regulations required that the business provide income documentation and proof of loss of revenue due to a disruption, COVID-19.   

What other documents will I need to include in my application?  

  • Signed copy of the certification page from the application (Click here to download) 
  • Copy of driver’s licenses 
  • Most recent tax returned filed for the business 
  • Completed W-9 (provide a link to the form for this to download) 

How long will this program last?  

We encourage you to apply as quickly as you can because there are limited funds, that will be distributed on a first come first serve basis for eligible applicants. 

How many loans can I take out under this program?  

Only one. 

When will I receive my loan funds? 

Upon approval and receipt of all required documentation and signed loan agreement, funds will be dispersed via electronic deposit within 10 working business days.   

How much of my loan will be forgiven?  

If funds are used, 100% forgiven. 
You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, commercial mortgage obligations, rent, and utilities payments over the 8 weeks after getting the loan.   You will also owe money if you do not maintain your staff and payroll. 

  • Number of Staff: Your loan forgiveness will be reduced if you decrease your full-time employee headcount.   
  • Level of Payroll: Your loan forgiveness will also be reduced if you decrease salaries and wages by more than 25% for any employee.   
  • Re-Hiring: You have eight weeks to restore your full-time/part-time employment and salary levels for any changes made between March 13, 2020 and April 29, 2020. 

How can I request loan forgiveness?  

You can submit a request to the Mecklenburg County. The request will include documents that verify the number of full-time equivalent or part-time employees and pay rates, as well as the payments on eligible commercial mortgage, lease, and utility obligations. You must certify that the documents are true and that you used the forgiveness amount to keep employees and make eligible mortgage, rent, and utility payments. Mecklenburg County will make a decision on the forgiveness within 30 days. 

What is my interest rate?  


When do I need to start paying interest on my loan?  

  • All payments are deferred for 6 months. 
  • 30 days before due we will send a reminder or statement. 

When is my loan due?  

In three years.

Can I pay my loan off early?  

Yes. There are no prepayment penalties or fees. 

Do I need to pledge any collateral for these loans?  

No. No collateral is required. 

Do I need to personally guarantee this loan?  

No. There is no personal guarantee requirement. 

***However, if the proceeds are used for fraudulent purposes, the U.S. government will pursue criminal charges against you.*** 

Where does the funding for the Microbusiness Stabilization Fund come from? 

The MSF is funded through Mecklenburg County’s Community Development Block Grant Program, which is a Federal Entitlement Program administered through the U.S. Department of Housing and Urban Development.   


Mailing Address:

Charlotte Mecklenburg Government Center
600 East 4th Street
Charlotte, NC 28202

Office Location:

Charlotte Mecklenburg Government Center
600 East 4th Street
Charlotte, NC 28202


Hours: Mon-Fri  8 a.m. - 5 p.m.


County Manager's Office

close alertCounty services are operating at a limited capacity. Questions about COVID-19? Call Public Health Hotline: 980-314-9400