Can Do Performance Financing Program Information Session

Is the Can Do Performance Financing Program a good fit for your business?

Join us for an information session to learn more about the Can Do Performance Financing Program.

Whether you applied for the first round of programming or are just learning of the program, this session will help you:

· Understand the program’s goals and requirements

· Decide if it is a good fit for your business

· Learn how to tailor your application to align with what the program is looking for

RSVP now and take the first step towards maximizing this opportunity for your business!

The Can Do Performance Financing Program was established with $2.5 million from the City of Fayetteville and $2.5 million from the State of North Carolina. The program offers patient financing for eligible businesses operating within a Qualifying Census Tract (QCT) in the City of Fayetteville. If program requirements are met by awarded businesses, the funds may not have to be repaid.

The Can Do Performance Financing Program addresses barriers to capital that have significantly impeded the creation of sustainable businesses by those in low- to moderate-income census tracts, especially those that are minority-, veteran-, or woman-owned, while increasing community stakeholders’ opportunity for local procurement of goods and services.

The Can Do Performance Financing Program is right for

· For-profit businesses with 2+ years of operations

· Those with 15 employees or fewer full-time employees

· Businesses located in a Qualifying Census Tract (check your address here: https://fcedc.biz/QCT)

· Those that have or plan to add full-time, salaried employees

How the Can Do Performance Financing Program works

· Helps established small businesses receive patient financing

· Companies may receive up to $25,000 for every qualifying job created (max request: $750,000)

· Particular emphasis is placed on businesses that add to the local procurement base

· Additional priority will be given to businesses within the aerospace, technology, defense, and cybersecurity sectors, and those that are minority-, veteran-, or woman-owned

· If program requirements are met by awarded businesses, the funds may not have to be repaid

The company must:

· Create at least five full-time jobs with benefits (at least one job for every $25,000 requested) that pay 10% above the average wage for the job classification

· Provide goods or services that are in demand by local procurement partners, like the City of Fayetteville, Cumberland County, PWC, or Cape Fear Valley Health

· Demonstrate viable plans for job creation and capital uses

· Use funds for capital expenses, including equipment, technology, facility improvements, vehicles, and real estate

· Create 50% of the qualifying jobs within the first 18 months, and 10% within five years

· Hire 60% of its employees from low-to-moderate income households

· Provide at least 2 years of financial statements, preferably CPA-prepared and certified

· Participate in meetings with business support partners and provide regular updates once funds are awarded

Interested business owners are invited to join the information session to learn more about the program, how to craft an application, and to ask questions related to the approval and funding process.

The application period for the Can Do Performance Financing Program will be open online from Thursday, June 26, through Friday, July 11th. Applications must be submitted online at www.candocaaronlinafund.com. For more information, please visit the website or call 910-500-6464.