The North Carolina Department of Revenue’s Business Recovery Grant Program is making one-time payments to eligible businesses in the state that have suffered significant economic loss because of the COVID-19 pandemic.
The deadline to submit an application is Jan. 31, 2022. Visit https://www.ncdor.gov/business-recovery-grant to learn more.
According to the NCDOR website, there are two types of grants available for businesses that had at least a 20 percent loss of business during the pandemic:
- A hospitality grant for eligible arts, entertainment, and recreation business, as well as eligible accommodation and food service businesses such as a hotel, restaurant, and bar (NAICS codes 71 and 72).
- A reimbursement grant for eligible businesses not classified in NAICS Code 71 and 72, and which did not receive funding from other relief programs including Paycheck Protection Program, COVID-19 Job Retention Grant, and EIDL Advance.
The amount an eligible business would receive is a percentage of the economic loss 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.
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.
