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Small Business Emergency Loan Program


This loan program provides emergency, short-term loans to small businesses located within the City limits of Mount Holly for the purpose of paying up to three months' rent or mortgage payments of the business in order to secure the physical business location from eviction or foreclosure during this state of emergency. Loans to eligible small businesses are the actual monthly rental or mortgage payment of the business, not to exceed the sum of $5,000 per month for up to three months, which would be a total of $15,000 for each small business.


The loans will be funded by direct payments by the City of the rental or mortgage payments directly to the landlord or mortgage servicer. The loans will be unsecured, with interest accruing at 3% per annum with a default rate of eight percent per annum, and having repayment terms over thirty-six months with no payments due and payable for the first twelve months and no prepayment penalty, to be documented by a promissory note and a loan agreement in a form as reasonably acceptable to the City Attorney.


In order to be eligible for this loan program, the business must completely and properly fill out, sign, and submit an application and must:

  • Have a physical location inside the city limits of Mount Holly from which the business currently operates or operated as of the State of North Carolina State of Emergency Declaration on March 10, 2020, to provide goods or services to the public
  • Have 50 or fewer employees
  • Have been in business at the Mount Holly physical location prior to March 10, 2020
  • Provide a copy of the Mount Holly physical location lease or most recent mortgage statement
  • Provide the name and address of the landlord or mortgage company which the City will use to process the rental or mortgage payment checks
  • Provide a W-9 for the business (Download here)
  • Provide or assist the City with obtaining a W-9 for the landlord or mortgage company (Download here)
  • Demonstrate that the business is in need of assistance with lease or mortgage payments to secure their Mount Holly physical location as a result of the above-referenced declared states of emergency or Gaston County's or State of NC's "Stay at Home" order
  • Be a "for-profit" business
  • The business must be lawfully operating on a commercially-zoned property with one of the following zoning district designations: B-1 Central Business District, B-2 Neighborhood Business, B-3 General Business, O&I Office and Institutional, Mount Holly Mixed-Use, H-1 Heavy Industrial, L-1 Light Industrial and Commercial Conditional District, as well as conditional uses and overlay districts with one or more of the aforementioned commercial base zonings in place. Legal nonconforming businesses, which are not located on commercially-zoned property, are also eligible.


  • Any business not meeting the eligibility criteria as outlined above
  • Any business applying for a loan on a physical location where the business does not provide goods or services, but solely leases the location to a tenant
  • Any business that would not be able to receive this loan assistance without causing a violation of NC law against conflicts of interest, including businesses that are owned
  • more than 10% by a City of Mount Holly Council member or public officer or employee making or administering this loan program or their spouses.

ELIGIBLE BUSINESSES WILL NO LONGER BE ELIGIBLE for future advances if the business is operating as of its application date and thereafter ceases operations or fails to operate to provide goods or services for a minimum of thirty hours per week at its Mount Holly location, other than pursuant to governmental order. For example, if a business is approved for a loan of three months' rental payments, and after the City makes one rental payment the business ceases operations in that Mount Holly location (other than pursuant to governmental order), then the City will not make any further rental payments.

Apply for the Emergency Management Act Small Business Loan Program Application:

Questions? Please contact a representative who can assist you.
Phone: (704)351-3000