The North Carolina Business Recovery Program is a grant opportunity for eligible North Carolina businesses that experienced significant economic loss due to COVID-19. The Program was established in the North Carolina State Budget that was signed by Governor Cooper on November 18, 2021. There are two types of grants available:
- Hospitality Grant
This opportunity is available to arts, entertainment, food/hotel service, recreation businesses.
To qualify for a hospitality grant, you must meet all of the following conditions:
- You were classified in NAICS Code 71 or 72 from March 1, 2019 through February 28, 2021.
- You are a taxpayer subject to North Carolina income tax imposed by Article 4 of Chapter 105 of the North Carolina General Statutes.
- You suffered an economic loss, as the term is defined in Section 34.3A.(h) of Session Law 2021-180, of at least 20%.
- Reimbursement Grant
Made available to businesses NOT classified in NAICS Code 71 and 71.
To qualify for a reimbursement grant, you must have not received an award amount from any of the following:
- COVID-19 Job Retention Grant
- Economic Injury Disaster Loan Advance (EIDL Advance)
- Paycheck Protection Program
- Restaurant Revitalization Fund
- Shuttered Venue Operators Grant Program
Grant Amount
The grant amount is a percentage of the economic loss demonstrated by the eligible business or $500,000.
Who can apply?
-Businesses must have suffered an economic loss of at least 20%
-Businesses must be subject to North Carolina income tax
-Must be classified in NAICS code 71 or 72 (More info: Six Digit NAICS Codes: 71 Arts, Entertainment, and Recreation | NAICS Association)
Payments
Grant amounts will be determined at the end of the application period. All payments will be mailed by check.
Apply today: Business Recovery Grant | NCDOR
FAQ:
How do I determine my economic loss?
Your economic loss is determined based on the amount your gross receipts in North Carolina were reduced from the period March 1, 2019 through February 29, 2020 (“Pre-COVID Period”) to the period March 1, 2020 through February 28, 2021 (“COVID Period”).
If I meet the qualifications to be eligible but closed my business after February 28, 2021, am I still eligible to receive the grant?
If your business was permanently closed at the time of the application, you are not eligible to receive a grant. A business must be in operation at the time of application for a grant.
How do I determine if I’m subject to North Carolina income tax under Article 4 of Chapter 105 of the North Carolina General Statutes?
In general, Article 4 of Chapter 105 covers corporate income tax, individual income tax, and partnership tax. If you have further questions, review Article 4 in its entirety.
North Carolina Department of Revenue
1 (877) 252-4487
NOTE: The application will close on January 31, 2022.