Small Business Emergency Loan Program (COVID-19)

The application filing period for the Apex Loan Program has now closed. However, businesses may still apply for the NC COVID-19 Rapid Recovery Loan. Please click here.


The purpose of the Small Business Emergency Loan Program is to assist established small businesses in Apex that are experiencing financial hardships due to the impacts of the COVID-19 pandemic. This loan is intended to provide funds to a business for a short period to help get the business through the emergency.  

General Terms & Eligibility:

  • For-profit businesses located within Town of Apex corporate limits or ETJ
  • Minimum of one year in operation
  • Loan maximum is equal to 2 months revenues, not to exceed $50,000 per business
  • 6 months no payment and 0.25% interest followed by 48 months fully amortized principal and interest at 5.5%
  • Potential for months 7-12 to be interest only payments
  • No origination or lien filing fees
  • Credit score is weighed into the question in tiers ranging from 575 to 700
  • Personal guarantee of all those with more than 20% ownership in the business


  • The NC Rural Economic Development Center will act as Administrator for the Loan Program.
  • Each business must complete an online application to determine eligibility.
  • The filing period for applications begins on May 4, 2020 and ends on May 18, 2020.
  • To apply, please click the following link: EMERGENCY LOAN APPLICATION

Note: This link will take you to a page on the NC Rapid Recovery website for the application. The page will be titled NC Rapid Recovery.

Documentation Required:

  • Credit Report with Credit Score
  • 2018 Business Tax Return
  • 2019 P&L or 12 months of bank statements
  • 2018 Personal Tax Returns
  • Proof of lost revenue based on 3 months bank statements or letter from borrower stating impact of COVID-19
  • Proof of business ownership
  • Copy of Driver’s License 

View the full press release from May 4, 2020.

View the full press release from April 22, 2020.