The deadline for businesses impacted by the COVID-19 pandemic to apply for Business Recovery Grants is Monday, Jan. 31. 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 N.C. Department of Revenue is administering the program.
“We encourage any eligible businesses that suffered financial setbacks during the pandemic to apply for these grants before the application deadline,” said NCDOR Secretary Ronald Penny. “Our goal is to distribute the grant funds to these businesses as efficiently as possible, which is the legislative intent.”
Two types of grants are available to eligible businesses:
- A hospitality grant is 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 is 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 at www.ncdor.gov. More detailed information and answers to Frequently Asked Questions are also available on the agency website.