The pandemic has taken an unprecedented toll on many businesses across the Charlotte Region. The lingering, crippling impacts of the pandemic have left businesses teetering on the brink of shuttering their doors.
Now, the Business Recovery Grant Program administered by the North Carolina Department of Revenue (NCDOR) is offering one-time payments to eligible businesses that suffered significant economic loss due to COVID-19.
Two types of grants will be available to eligible businesses that suffered an economic loss of at least 20 percent during the pandemic:
- A hospitality grant will be available to an eligible arts, entertainment, and recreation business, as well as an eligible accommodation or food service business such as a hotel, restaurant, and bar.
- A reimbursement grant will be available to an eligible business not classified in NAICS Code 71 and 72 and that did not receive funding from other relief programs including Paycheck Protection Program, COVID-19 Job Retention Grant, and EIDL Advance.
The grant amount is a percentage of the economic loss demonstrated by the eligible business or $500,000, whichever is less. NCDOR will reduce grant amounts if the total amount of grants requested exceeds the maximum amount of funds authorized for the for Business Recovery Grant by the state of North Carolina.
While both grants require applicants to demonstrate an economic loss of at least 20%, businesses applying for a Reimbursement Grant are prohibited from participating in this program if they received relief from other COVID-related programs. These include Paycheck Protection Program (PPP), Job Retention Grant, and Economic Impact Disaster Loan (EIDL). Businesses applying for a Hospitality Grant can participate if they received funding through these other COVID-related programs, but may be eligible for a lesser grant amount based on previous assistance received.
Grant amounts will be determined at the conclusion of the application period. All payments will be made by check, mailed to the address provided by the respective business once the amounts are determined after the application period closes.
Applications are being accepted through Jan. 31. Click here to apply.
NCDOR is hosting an informational webinar on Jan. 18 at 10 a.m. The webinar covers the eligibility requirements, what is needed to apply, and information on how to apply. At the end, attendees will have the chance to have questions answered by NCDOR staff.
Registration for this event is required. Click here to reserve a spot now.
