City council approves $15.5M to support Asheville small businesses

January 28, 2026 - 05:35

In a decisive move to bolster the local economy, the Asheville City Council has approved a substantial $15.5 million allocation dedicated to the city's Small Business Support Program (SBSP). This significant financial commitment is designed to provide a critical lifeline to independent enterprises navigating ongoing economic challenges.

The funding is earmarked for a variety of supportive measures, including grants and low-interest loans, which will be distributed to eligible small businesses across the community. The program specifically targets enterprises that have demonstrated resilience but require capital for stabilization, expansion, or innovation. Officials emphasize that the initiative will prioritize businesses that contribute to neighborhood vitality and create sustainable employment opportunities for residents.

This investment reflects the council's strategic focus on fostering a diverse and resilient commercial landscape. By directly empowering small businesses, which form the backbone of Asheville's unique character and economy, the city aims to stimulate job growth, encourage entrepreneurship, and ensure a more equitable recovery and future for all sectors. The approval process involved considerable deliberation to ensure the funds will be deployed effectively and reach those with the most pressing needs.