Small companies can get financing through county

MECKLENBURG COUNTY, N.C. — The rug industry runs deep in Reza Elyasi’s bloodline. His grandfather and father worked in the business where he grew up in Iran. He opened Pineville Rug Gallery in 1983.

“I took the best of my culture and the best of here and made the best out of it,” he said.

He knows all about rugs from the value to how to repair them. But, just a few short years ago, his business was suffering some damage of its own. The pandemic slowed sales significantly since he relied on in-person sales to pay the bills, bringing a big risk of closure.

“I did not even have a website at that time,” he said.

Facing the threat of joining small businesses across North Carolina that lost 12,000 jobs between 2020 and 2021, according to the Small Business Administration, he was stuck. But, little did he know, help was right around the corner.

“I didn’t know,” he said. “I accidentally found out myself.”

He found out about Meck Lending, Mecklenburg County’s organization that is providing financial assistance to businesses. Lucky for Elyasi, he had to do some work for the Pineville mayor, whom he says happened to tell him about it. 

Most entrepreneurs don’t even know the program exists. That’s why Mecklenburg County is launching a county-wide campaign to spread the word through township connections. This month it’s going to different towns to share information about the funding and hear about business owners’ needs.

Elyasi received a $75,000 loan through Meck Lending, allowing him to bring his business online.  

“Advertising is such an expensive thing,” he said. “Even in the sense of social media.”

He added marketing can run upward of $4,000 a month incorporating online ads, social media promotion and mailers. 

He credits the loan for allowing him to create a website, promote his delivery business and purchase new equipment — boosting his revenue by 30% compared to what he was bringing in even before the pandemic. 

Counties across North Carolina also have incentives to help keep small businesses alive. Guilford County offers funding for businesses creating jobs with wages near or above the county’s average salary of $37,000 a year.

The Raleigh Chamber of Commerce also has financing options, highlighting a federal tax credit for hiring groups historically experiencing unemployment rates.

And in an effort to help all businesses in our state, Gov. Roy Cooper’s budget proposes cutting unemployment insurance taxes.