The North Carolina Department of Revenue (NCDOR) is still accepting applications for Business Recovery Grants from businesses that experienced significant economic loss due to COVID-19.
The Business Recovery Grant Program (BRG) will issue a one-time payment to eligible North Carolina businesses that suffered an economic loss of at least 20 percent during the pandemic. The application period closes January 31, 2022. The NCDOR will administer the program.
Two types of grants will be available to eligible businesses:
- A hospitality grant will be available to an eligible arts, entertainment, or recreation business, as well as an eligible accommodation or food service business such as a hotel, restaurant, or bar (NAICS code 71 and 72).
- 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 grants requested exceed the maximum amount of funds authorized for BRG by the state of North Carolina.
Eligible business owners are encouraged to apply online before the January 31 deadline at www.ncdor.gov. More detailed information and answers to Frequently Asked Questions are also available on the agency website.