The North Carolina Department of Revenue has announced it is accepting applications through the end of January for business recovery grant programs.
The Business Recovery Grant Program will issue a one-time payment to an eligible North Carolina business that experienced a significant economic loss due to COVID-19. The application period closes January 31, 2022.
Two types of grants will be available to an eligible business 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 eligible accommodation and food service business such as a hotel, restaurant, and bar (NAICS codes 71 and 72).
- A reimbursement grant will be available to an eligible business not classified in NAICS Code 71 and 72 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 Business Recovery Grant by the state of North Carolina.
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.