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Durham to fund phase 2 of Small Business Opportunity Fund; council seeks clearer goals
Summary
Council discussed a proposed contract to administer phase 2 of the Durham Small Business Opportunity Fund, which mixes loan guarantees and early-stage business supports; members asked for clearer targets (businesses served, loan counts) and demographic tracking.
Durham City staff and the Office of Economic and Workforce Development presented a proposed contract to administer phase 2 of the Durham Small Business Opportunity Fund. The program combines loan guarantees for small business loans ($25,000to $75,000) with free early-stage business tools and supports.
Staff and the prospective…
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