NCIFund makes emergency loans to help small businesses in North Carolina, West Virginia and western Maryland recover and adapt to the COVID-19 pandemic.

PPP (Paycheck Protection Program) Loans:  For companies in NC, WV and Allegany, Garrett & Washington counties in Maryland

NCIFund can originate a PPP loan for your company. The deadline for PPP loans is March 31, 2021, though funds may be exhausted sooner.

Recent changes (as of 2/24/21) to the PPP program may make it easier for small businesses to qualify for a PPP loan:

  • CHANGE IN REVENUE CALCULATION FOR SCHEDULE C FILERS:  Sole Proprietorships can now use gross revenue (instead of net revenue) to determine the size of the PPP loan. This means you may be able to borrow more than previously or you may now be eligible for a PPP loan when you were not before.  Courtesy of Pathway Lending, here’s a guide.
  • PREFERENCE FOR COMPANIES WITH FEWER THAN 20 EMPLOYEES:  For the next two weeks, the SBA is prioritizing applications from companies with headcount of 19 or fewer (full time OR part time employees).

To get started on your PPP loan, contact Kevin O’Connor, Senior Business Lender for NCIFund at This email address is being protected from spambots. You need JavaScript enabled to view it..


West Virginia Emergency Relief Loans (WV businesses only)

NCIFund has received funding from the Appalachian Regional Commission and the US Department of Commerce’s Economic Development Administration (EDA) to make affordable loans to WV businesses affected by the pandemic. Loans are subject to availability of funds.

Eligibility:

  • In business for at least one year as of February 15, 2020.
  • Employees: 100 or fewer.
  • Must verify loss of income due to COVID-19 pandemic.
  • Current WV Business License and current WV State Taxes.

Loan Terms Summary:

  • Amount: Capped at $100,000. Loan amount will be based on the business's losses due to COVID-19 and current revenue. Loan sizes are approximately two months of average business revenue.
  • Use of Proceeds: Only for working capital needs of the affected business. May NOT be used to refinance existing debt.
  • Interest: Fixed at 3.00%; no principal or interest payments for 1st six months.
  • Collateral: UCC filing on business assets. 
  • Personal guarantee: Any individual owning 20% or more of the applying business must personally guarantee the loan.
  • No prepayment penalties.
  • 1% origination fee, which may be added to the loan amount. 
  • Repayment: Defaulted loans are subject to collections. This is not a grant program.

Download a list of all terms and conditions here.

To learn more and begin the application process, please contact:

Southern/Central WV: Justin White, Business Lender
This email address is being protected from spambots. You need JavaScript enabled to view it.,
Cell: 304-575-1462 

Northern WV and Panhandles: Kevin O’Connor, Senior Business Lender
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