UNCP Foundation was granted $480,000 from the Golden LEAF Foundation to expand business services offered through the Thomas Entrepreneurship HUB.
Executive Director Thomas Hall said the funds are a timely award that will provide support for fledgling businesses during unstable times.
“This will be really important in helping us for recovery in the future,” Hall said. “The thing with the COVID-19 virus is the need is even more urgent to provide services and support to entrepreneurs and start-up businesses. This money is timely anyway, but with the virus it’s incredible critical to help us get resources.”
Hall said the money will help the HUB increase its software and internet services for entrepreneurs and start-up businesses, and help the Sandhills Entrepreneurship Engagement Network connect entrepreneurs across the region to share best practices, collective events and resources.
The money will be used for access to the Sourcelink network, new personnel to support programs and events, and to support six entrepreneurs-in-residence, he said.
The funds were awarded through the Golden LEAF Community-Based Grants Initiative that distributes money from the Master Settlement Agreement, which committed tobacco manufacturers to pay tobacco-dependent areas in a bid to promote economic growth.