Deadline: 31-Jan-22
The North Carolina Department of Revenue (NCDOR) is pleased to launch the Business Recovery Grant Program to provide a one-time grant payment to aid eligible North Carolina businesses that suffered substantial economic damage from the COVID-19 pandemic.
Types of Grants
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.
- 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.
Funding Information
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.
Eligibility Criteria
- To Receive a Hospitality Grant
- A business must be classified in NAICS
- A business must have suffered an economic loss of at least 20% (Calculated using gross receipts reported on North Carolina Sales and Use Tax Return and IRS Form 1065)
- A business must be subject to North Carolina income tax
- To Receive a Reimbursement Grant:
- A business is not classified in NAICS
- A business did not receive relief from other relief programs including Paycheck Protection Program, COVID-19 Job Retention Grant, and EIDL Advance
- A business must have suffered an economic loss of at least 20% (Calculated using gross receipts reported on North Carolina Sales and Use Tax Return and IRS Form 1065)
- A business must be subject to North Carolina income tax
For more information, visit https://www.ncdor.gov/business-recovery-grant#about