The North Carolina Department of Revenue (NCDOR) has completed initial review of the more than 23,000 applications received for Phase 2 of the Business Recovery Grant (BRG) program that closed on June 1. The agency is currently validating the applications.
The N.C. Department of Revenue received more than 23,000 applications for Phase 2 of the Business Recovery Grant (BRG) program that closed on June 1, 2022. Given the large number of applications to be reviewed and the administrative complexities involved in verifying and calculating award amounts, the Department is unable to give an exact timeline of when grant applicants can expect to be formally notified and checks are mailed to recipient businesses.
Phase 2 of the Business Recovery Grant (BRG) program begins on Monday, May 2. Many additional businesses now qualify for these grants due to updates to the program’s eligibility criteria. BRG will issue a payment to an eligible North Carolina business that suffered an economic loss of at least 20 percent during the pandemic. The grant amount is a percentage of the economic loss demonstrated by the eligible business or $500,000, whichever is less. The application deadline is Wednesday, June 1.
Taxpayers can learn about the expanded eligibility for recovery grant money and much more at the N.C. Department of Revenue (NCDOR) webinar on Phase 2 of the Business Recovery Grant (BRG) program on Wednesday, May 4. The session will begin at 11 a.m.
The NCDOR plans to launch the application for Phase 2 of the Business Recovery Grant (BRG) program on Monday, May 2, with changes to the program’s eligibility criteria allowing many additional businesses to qualify for these grants.