Raleigh, North Carolina February 21, 2022.
The North Carolina Department of Revenue (NCDOR) has opened a second application period for the Business Recovery Grant (BRG) program. The 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 Phase 2 application deadline is March 18.
“These grants are a great opportunity to help small businesses across the state as we emerge from the pandemic,” said Governor Roy Cooper. “Strong businesses provide better paying jobs for North Carolinians and these grants will help with that effort.”
NCDOR reopened the application because the full amount of grants applied for by eligible businesses during the initial application period will not exhaust the $500 million in funds authorized for the program. There were 6,533 applications submitted during the first application period, which closed on January 31. Businesses that submitted applications before the initial deadline and are approved by NCDOR will receive full funding as determined by statute.
“The Business Recovery Grant legislation directs us to reopen the application period if any grant money remains after the first application period,” said NCDOR Secretary Ronald Penny. “If you haven’t already done so, we encourage any eligible North Carolina business that has suffered a financial loss due to the pandemic to apply immediately.”
Businesses that applied for a grant during the first application period can expect to receive communication from NCDOR about the status of their application and payment within the next week.
Federal law requires individuals who receive grants greater than $50,000 to provide additional information to the department under various reporting requirements, including the Federal Funding Transparency and Accountability Act (FFATA). FFATA makes this information available online through a searchable website so the public can access information about recipients of federal funds. NCDOR will contact applicants who will be affected by these federal requirements regarding next steps via email and the US Postal Service.
There are two types of grants available to eligible businesses:
- A hospitality grant is available to an eligible arts, entertainment, or recreation business, as well as an eligible lodging 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 that is not classified under NAICS Codes 71 and 72 and did not receive funds from other relief programs, including the Paycheck Protection Program, the COVID-19 Employment Retention Grant 19 and EIDL Advance.
The amount of the grant is a percentage of the economic loss demonstrated by the eligible business or $500,000, whichever is less. Applications approved during the second application period may be funded at reduced amounts if the total grants requested exceed the maximum amount of funds authorized for the BRG program.
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’s website.
NCDOR funds public services that benefit the people of North Carolina. The department administers the tax laws and collects the taxes due in a fair, consistent, safe and efficient manner.
