90.6 F
Raleigh
Sunday, July 3, 2022

Phase 2 of the Business Recovery Grant Program is NOW OPEN!

Must Read
revistalatinanc
revistalatinanchttps://revistalatinanc.com
Revista Latina NC “EL lugar donde descubrimos muchas culturas, pero el orgullo de pertenecer a cada una nos une”. Revista Latina NC tiene el propósito de promover los Negocios, Grupos Musicales, Artistas Latinos así como los Servicios y Eventos a través de las Sociedades, Instituciones, Academias, Asociaciones y Grupos que involucran a nuestra comunidad Latina. Consideramos parte importante de nuestra comunidad la difusión de estas actividades con el fin de recordar nuestras tradiciones como países latinos y compartir con el mundo lo enriquecedor de cada una de nuestras culturas. Una de las principales caracteristícas que distingue a Revista Latina es que todos sus espacios están diseñados para que sus seguidores puedan ser parte de ella, tenemos espacios para todos aquellos que gustan de realizar artes, que escriben o componen, los que realizan eventos sin fines de lucro, para todos aquellos que tengan un buen propósito hay un lugar.

 

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.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
Recent

Tropical Storm Colin Forms Off Carolinas Coast

Tropical Storm Colin formed quickly along the South Carolina coast overnight. Tropical Storm Warnings have been issued for much of the North Carolina coast, from the South Carolina border to Duck, as the system is expected to move northeastward, before moving offshore and away from NC by late in the day Sunday.
- Advertisement -

Related Articles

- Advertisement -