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Rapid Recovery Loan

Rapid Recovery loans are expedited bridge loans for up to $50,000 at zero percent interest for six to nine months. Small businesses use the short-term capital to immediately stabilize the business, including covering cleanup costs and lost revenue. These loans provide immediate cash to businesses while they wait for a Small Business Administration (SBA) loan or insurance payouts.

This is NOT a grant program. Bridge loans are not designed to be a long-term source of assistance for small businesses. As such, eligibility for funding is contingent on the pursuit of other funding sources, including SBA Physical and Economic Injury Disaster Loans. Repayment is expected upon receipt of funding from more permanent sources.


  • Loans are available for up to $50,000 (based on the business’s current revenue).
  • Loan agreements are for six to nine months, depending on seasonality of the business, and are interest-free (if paid back in that time).
  • Regular payments are not required during the loan term, but the full loan amount must be repaid by the expiration of the loan term.
  • If the loan is not paid in full at its maturity, interest will begin to accrue (on any unpaid balance).
  • Defaulted loans are subject to commercial collection processes.


  • Applicants must be a North Carolina small business affected by Hurricane Dorian.
  • Applicants must have at least one employee, who could be the owner.

Other Requirements

  • Any individual with greater than 20 percent ownership in the applying business must co-sign the loan.
  • Proceeds from the loan may only be used for maintaining or restarting a business.
  • The use of loan funds to pay off debts already incurred for qualifying business maintenance or restart purposes may be authorized on a case-by-case basis.
  • Borrowers are required to assign proceeds of any anticipated claims, outside loans, or financial assistance grants to the repayment of their Thread Capital Rapid Recovery Loan.