Person County, NC
Updated: 2022
Person County introduces a rapid short-term loan for local small businesses to combat economic downturn from COVID-19 and ensure the longevity of the community.
| Population | 2020 | 39,561 |
| Median Household Income | 2020 | $57,323 |
| Poverty Rate | 2020 | 16.3% |
| Proximity to Urban Center | 28 miles to Durham | |
| Proximity to Interstate Highway | 16 miles to I-85 | |
| Case Study Time Frame | 2020 | |
| Municipal Budget | proposed 2022-2023 | 70.6 million |
Following the initial economic downturn due to the COVID-19 pandemic, the Person County Economic Development Commission developed a program to provide funds for small businesses in the rural community. With small businesses occupying a large portion of the county’s economy, the Economic Development Commission’s Pivot COVID loan program is an effort to provide rapid short-term financial assistance to local businesses. While there is state and federal support for these businesses as well, the goal of the Pivot COVID program is to be more responsive to the needs of the businesses.