Small businesses still climbing back from Hurricane Helene just got some breathing room. On Tuesday, August 11, 2026, Governor Josh Stein signed House Bill 268 into law, extending the 1% low-rate window on WNC Strong: Helene Business Recovery Fund loans by another six months.
The WNC Strong: Helene Business Recovery Fund* was launched ten days after the storm in October 2024 to give businesses quick access to bridge capital for immediate recovery needs. Between its launch and its close in December 2025, the fund deployed $59.6 million in total financing across 852 businesses.
This 2026 Budget Technical Corrections bill extends the interest-only period for these loans from 24 months to 30 months. In practice, that means fund borrowers can get six additional months of interest-only payments at 1% before regular payments begin.
“We are extremely grateful to the NC General Assembly and Governor Stein for their sustained commitment to WNC’s small business recovery,” said Matt Raker, Executive Director of Mountain BizWorks. “We know from our 2026 Local Business Impact Survey that 3 out of 4 business owners are still at or below pre-Helene revenue levels. As such, these additional 6 months at 1% and interest-only will be a huge help to more than 800 businesses in the program.”
“This extension is particularly important because there are no longer any regional disaster recovery programs available to support small businesses,” said Senator Tim Moffitt, who represents Senate District 48, including Henderson, Polk, Rutherford counties, and who was a champion for the extension. “Lower monthly payments mean small businesses can put proceeds toward things like payroll and inventory that keep businesses pushing forward.”
What this means for current borrowers:
If you’re a WNC Strong borrower, watch your inbox for information about the modification from the Mountain BizWorks team.
*WNC Strong: Helene Business Recovery Fund is the program’s public-facing name; state law refers to the same program as the Golden LEAF Hurricane Helene Impacted Business Bridge Loan Program.
