Nc Small Business Grants 2021

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Grants Loans And Programs To Benefit Your Small Business

Where’s the Money: Small business grants in Davidson

When you know where to look, help for your small business is there for the taking.

There are many grant programs available to small businesses, depending on a variety of qualifying factors.

Times are tough for small business, but help is available, from both the governmentfederal, state or localand the private sector. It may be in the form of a grant, a loan or a leg up competing in a difficult business environment. Heres a breakdown to help you sort through whats available.

Minority Business Development Agency

The Minority Business Development Agency helps grow minority business enterprises through its programs, services, and funding.

  • Award amount: Up to $350,000 initial grant
  • How to apply: Visit the website for more information.

The MBDA offers business centers across the nation that offer high quality, technical assistance to minority business enterprises,” according to its site. Entrepreneurs can receive mentoring, counseling, and assistance with funding and growth.

Consider Hiring A Grant Writer

Grant writing is an art, so consider hiring a grant writer. A grant writer will know what kind of language to use to make your application stand out, which can make quite the impact when you’re competing.

It’s worth noting that grant writers can be expensive. So, if you’re strapped for cash, you may want to hold off and consider taking some free grant writing courses instead.

Before applying to grant programs, ensure you’ve covered all your business’s legal bases and have a story to tell along with a business plan to show.

Get help managing your business.Get help managing your business.

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Don’t Miss: Government Start Up Business Grants

Blue Ribbon K9 Academy

Carol Foxs love for animals was the catalyst for starting her dog training business, Blue Ribbon K9 Academy. However, shelter-in-place orders ceased operations and dog training became impossible while maintaining social distancing. With a $10,000 grant from the Access to Capital program, Carol will update her business technology with camera and video recording capabilities to provide virtual training.

Are You A Historically Underutilized Business

Loan and Grant Opportunities for Veteran

If you are a Historically Underutilized Business , there may be additional funding available for your business. Your HUB status has no bearing on the Department of Revenues Business Recovery Grant Program. If you are a HUB that is not certified as such you may still be eligible for additional opportunities.

Recommended Reading: Us Government Small Business Grants

Nc Small Business Advisory Council

Shepherding the work of the Small Business Policy Task Force and North Carolinas New Small Business Plan into its second chapter is the NC Small Business Advisory Council. Consisting of eleven small business leaders and advocates from across the state, each bringing decades of knowledge and expertise to the table, the NC Small Business Advisory council will serve as leading voices in the continued advocacy for a more resilient, inclusive, and equitable small-business ecosystem. Advisory Council members will utilize their expertise to inform and guide the Rural Centers small business advocacy priorities, while identifying new opportunities and challenges for the initiative. Members will also serve as ambassadors for the NC Small Business Coalition.

National Association For The Self

The National Association for the Self-Employed Growth Grant was established in 2006. Over the years, NASE has awarded roughly $1,000,000 to entrepreneurs to help grow small businesses.

  • Award amount: Up to $4,000
  • How to apply: Visit NASE’s website for information on the grant and how to become an NASE member.

You must be a member of NASE to apply for this grant, but winners can receive up to $4,000 to go toward marketing, team growth, and other needs.

Read Also: Federal Government Small Business Grants

Need A Grant For Women

A Google search will bring up a long list of sites that offer some grants for women. But most either look like scams or complicated government sites. Endless forms and applications that ask personal questions and demand financial records. Thats not us.

Were different. WomensNet can help you find real grants, loans, and other funding for your business venture. Yes, youre still going to have to put in some hard work and time. But if youre serious about getting your business to the next level, youll find our site a big help.

A simple place to start is with our Amber Grant for Women. Business women from North Carolina are eligible to apply for this grant. Our judges award this $10,000 Amber Grant every month so today would be the perfect time to apply. And if youre one of our 12 monthly winners youre automatically eligible to win our $25,000 year-end grant. Thats $35,000 in grant money in less than a year.

After youve applied for our grant, please take a bit of time to check out the resources below. There are folks in North Carolina waiting to help women business owners just like you!

Which Businesses Qualify To Apply Which Do Not And Why

North Carolina business recovery grant applications open

Which businesses qualify for the Guilford CARES Small Business Grant?

A business is eligible for up to $10,000 grant if it meets ALL of the following criteria:

  • Business is physically located within the boundaries of Guilford County, North Carolina.
  • Business has been operating before October 1, 2019.
  • Business can demonstrate ongoing business operations as of February 29, 2020.
  • Business is expected to return to full operations after local and state emergency guidelines during COVID-19 are rescinded.
  • Business is not a publicly-traded company.
  • Business suffered from business interruption caused by required closures resulting from the COVID-19 public health emergency.
  • Business suffered economic damages from business interruption caused by COVID-19 since March 1, 2020.
  • Business employed 49 or fewer full-time equivalent employees, including owner, as of February 29, 2020. The firm can have more part-time employees, provided the total weekly hours of all employees does not exceed 1,960.
  • Business has total annual gross receipts and sales of $3 million or less.
  • Business does not have any current unpaid code enforcement liens.
  • Business is not operating in violation of any state, Federal or local laws.
  • Business is in good standing with Guilford County Government.

Am I eligible if I meet some, but not all, of the eligibility requirements?

No, a business must meet ALL eligibility requirements to be eligible.

I am a 1099 Contractor. Do I qualify?

Do sole proprietors qualify?

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Cumberland County Resources & Links

The application and guidelines for the Small Business Resiliency Grant Program will be available through May 29, 2020.

Application deadline: By 5 p.m., May 29, 2020

Application, submission requirements, and guidelines

You may also refer to the Frequently Asked Questions section to help you better understand the requirements of the program.

For additional information, please email or call 323-6112. More Details

City of Fayetteville Bridge Loan

The goals of the bridge loans are to provide immediate relief to help small businesses within the City of Fayetteville stay open, limit job losses, provide low-cost bridge funding until businesses can qualify for longer-term disaster funding from SBA or other funding source and to reach a diverse mix of area businesses in need of financial support.

We know businesses are facing some extreme challenges right now and understand the hardships they are facing, said Kathy Jensen, Mayor Pro Tem and Chairwomen of the Councils Business Taskforce and a local business owner. These loans are designed to help businesses quickly and easily, providing a short term financial fix until applicable federal dollars kick in.

Cumberland County North Carolina

Cartier Women’s Initiative Award

This grant program is for eco-friendly and sustainable women-owned businesses around the world. Cartier offers three funding types: regional awards, diversity, equity, and inclusion awards, and science and technology pioneer awards.

  • Award amount: $30,000$100,000
  • How to apply: Visit the website for more information on various awards.

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Business That Received A Grant In Phase 1

A business that received a grant in Phase 1 is only eligible for a grant in Phase 2 if ALL of the following are true:

  • The business has gross receipts that were not reported on Form E-500.
  • The business has gross receipts that were not reported on federal Form 1065.
  • The grant the business received in Phase 1 was less than $500,000.
  • The gross receipts on Line 5b of the Phase 2 application must be greater than the gross receipts on Line 8b of the Phase 2 application.
  • The grant amount for a business that received a grant in Phase 1 is a percentage of the amount by which Line 5b is greater than Line 8b. However, the combined Phase 1 and Phase 2 grant award for a business cannot exceed $500,000.

    The Second Service Foundation

    Wells Fargo grants foster economic mobility, racial equity, and ...

    The Second Service Foundation’s mission is to inspire and support military entrepreneurs. It grants businesses funding, shares educational content, provides mentorship and coaching, and hosts networking events.

    • Award amount: $4,000$15,000
    • How to apply: Visit the website for more information on grant offerings.

    Since 2016, the foundation has built a strong community of over 85,000 members and helped more than 5,000 entrepreneurs build their businesses.

    Recommended Reading: Federal Grants For First Time Home Buyers

    One North Carolina Small Business Program

  • One North Carolina Small Business Program
  • The One North Carolina Small Business Program is comprised of two programs:

    • The SBIR/STTR Phase I Incentive Funds Program
    • The SBIR/STTR Phase I Matching Funds Program

    As authorized by NC General Statute § 143B437.80 the SBIR/STTR Phase I IncentiveFunds Program provides reimbursement to qualified NC businesses for a portion of the costs incurred in preparing and submitting Phase I Small Business Innovation Research or Small Business Technology Transfer proposals to federal agencies. The goal of the Incentive Program is to increase the number, quality, company and technology diversity, and geographic breadth of NC applications for Federal SBIR and STTR Phase I awards.

    As authorized by NC General Statute § 143B437.81 the SBIR/STTR Phase I MatchingFunds Program awards matching funds to NC businesses who have received a federal SBIR or STTR award. The goals of the Matching Program are to help NC companies bridge the funding gap period between the final Phase I payment and the first Phase II payment in the Federal Program, and increase the intensity of the research conducted under Phase I, making NC small businesses more competitive in the competition for Phase II funds.

    The One North Carolina Small Business Program is administered by the Office of Science, Technology & Innovation on behalf of the Board of Science, Technology & Innovation.

    For previous solicitations, see Previous Solicitations & Awardees.

    Economic Development Administration Grants

    The Build to Scale Program seeks to build regional economies by funding scalable startups through various grant competitions. Total funding stands in the millions, with $45 million in federal funds available to startups in 2022.

    • Award amount: Varies
    • How to apply: Visit the website for details on grant competitions.

    The B2S program accepts applications for three different competitions: Venture Challenge, Capital Challenge, and Industry Challenge.

    Also Check: First Time Home Buyer Federal Grants

    What Are Small Business Grants And Who Is Eligible To Receive One

    Small business grants are amounts of seed money given to entrepreneurs to build upon their business. Grant money is considered gifted,” and you are not required to pay it back. Sometimes, you may need to pay taxes on the amounts received, so please consider this and talk to a tax professional.

    To secure a grant, you may have to do things like:

    • Meet eligibility requirements
    • Go through interviews

    In exchange, you could be awarded financial resources to build your brand, team, and operations.

    Government entities or private businesses establish most grant programs because they want to help others succeed.

    Tip: Search grant databases, such as GrantWatch, to find available grants in your industry. GrantWatch is an online hub for more than 26,000 grants in the United States and Canada in which you can browse various funding opportunities easily by filtering your specifications.

    Tory Burch Foundation Fellowship Grant

    $1K to $100K New Small Business Grants for these locations CA NC OH GA NE

    Designer Tory Burch has a fund with the goal of mentoring and uplifting women entrepreneurs across all walks of life.

    • Award amount: $5,000
    • How to apply: Visit the website for details on the fellowship program and the foundation itself.

    In addition to a monetary grant, the Fellowship program offers a year-long education model with mentorship tailored to your needs. The foundation also offers a peer network of other recipients and a trip to Burch’s New York office.

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    American Association Of University Women

    The American Association of University Women not only offers academic and research grants but also grants for career development for women looking to change careers or reenter the workforce.

    • Award amount: $2,000$20,000
    • How to apply: Visit the website for a timeline and eligibility requirements.

    In addition to grants for individual career betterment, the AAUW also grants funds for projects that encourage and jump-start young girls’ careers in technical fields.

    Treasury Announces North Carolina Approved To Receive Up To $2019 Million To Promote Small Business Growth And Entrepreneurship Through The American Rescue Plan

    Deputy Secretary Adeyemo Announced the Approval of North Carolinas State Small Business Credit Initiative Plan at Event in Raleigh with North Carolina Secretary of Commerce Machelle Baker Sanders

    WASHINGTON Today, the U.S. Department of the Treasury announced the approval of North Carolinas application for funding under the State Small Business Credit Initiative . President Bidens American Rescue Plan reauthorized and expanded SSBCI, which was originally established in 2010 and was highly successful in increasing access to capital for small businesses and entrepreneurs. The new SSBCI builds on this successful model by providing nearly $10 billion to states, the District of Columbia, territories, and Tribal governments to increase access to capital and promote entrepreneurship, especially in traditionally underserved communities as they emerge from the pandemic. Deputy Secretary Wally Adeyemo announced the approval of North Carolinas plan alongside North Carolina Secretary of Commerce Machelle Baker Sanders at the North Carolina Rural Center in Raleigh. The North Carolina Rural Center administers funding for small businesses from local and federal sources, including from the SSBCI program. As part of the announcement, Deputy Secretary Adeyemo and Secretary Sanders participated in a roundtable discussion with local small businesses and financial institutions that participated in the first round of SSBCI.

    Read Also: Grants To Pay For Weddings

    Grants Vs Loans: What’s The Difference For Entrepreneurs

    A loan is funding you must pay back to the creditor who loaned you the money. In contrast, a grant is gifted” money you don’t need to pay back.

    You will have to apply for both grants and loans, but a loan application considers your ability to repay the money while a grant application considers your merit as it applies to the rules of the grant.

    Small Diverse Business Emergency Relief Fund

    MWBE â C &  G Enterprises Unlimted, LLC

    There is a $1000 grant available from the National Institute of Economic Development for minority-owned and women-owned businesses. All the cities and counties in North Carolina are eligible to apply for the funds. Minority or women must own 51% of the company, and proof is required. Also, the business must have suffered negatively from the COVID-19 pandemic in terms of sales and income.

    Eligibility requirements include the following:

    • Applicants were in business before February 2020
    • Minority or female owners must own at least 51% of the business
    • A valid NC Secretary of State certificate or other verifiable documentation must validate the existence of the business
    • North Carolina must be the location of the business
    • The applicant must demonstrate a COVID-19 pandemic-related economic injury

    A decline in business due to COVID19 may impact rent, utilities, or other operational expenses.

    Recommended Reading: How Are Pell Grants Disbursed

    Local Chamber Of Commerce

    Start by researching grants within your communityyour local Chamber of Commerce is a great place to start.

    • Award amount: Varies
    • How to apply: Reach out to your local Chamber of Commerce for information.

    Although some grants have stipulations like industry, business type, size, and location, your local Chamber of Commerce should be able to connect you with grants that fit your situation. Their team can also provide your small business funding services, tips, and resources.

    North Carolina Businesses Will Receive $300m Grants For Covid

    Esperanza Carrillo, of Burlington, N.C., washes cars at Vivas Hand Car Wash on Wednesday, March 11, 2020.

    More than 3,900 North Carolina businesses will receive checks in the coming days as part of the second phase of the state’s Business Recovery Grant Program.

    The North Carolina Department of Revenue mailed the checks on Thursday to help businesses recover losses tied to Gov. Roy Cooper’s health edicts during the COVID-19 pandemic. The program is funded through $500 million from the federal American Rescue Plan State Fiscal Recovery Fund.

    The Department of Revenue distributed about $300 million of that funding through 3,406 grants during the first phase of the BRG program, while the remainder went out to 3,931 businesses on Thursday for phase two. Officials also mailed letters to businesses who were not approved for the program.

    “Small businesses are the backbone of our economy, and Business Recovery Grants from the American Rescue Plan will help thousands of small businesses recover stronger,” Cooper said.

    Businesses with an economic loss of at least 20% were eligible to apply for the second phase of the program through June 1. The second phase expanded those initially eligible to include gyms and fitness centers, as well as professionals such as barbers and cosmetologists.

    Grants were reduced to up to 10% of economic loss for businesses that received other COVID relief.

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    Heres How: Https: //edpnccom/nc

    Mortgage, Utility and Rent Relief Program

    If your business has experienced extraordinary business disruption and not been able to open due to the COVID-19 coronavirus pandemic, the new Mortgage, Utility, and Rent Relief Program may be able to offer assistance with some of your fixed costs.

    To qualify to receive these relief funds, your organization must meet certain eligibility criteria.

    We are accepting applications for this assistance on a first-come, first-served basis.

    We cant guarantee your business will receive funding under this program. However, we will pay the maximum assistance for which a business is eligible, and will make those payments to as many qualifying businesses as we can until program funds are exhausted. If additional funds become available after the first round of funding is committed, the Program may reopen but there is no guarantee we can reopen.

    Our MURR team is available to assist you. Email your questions or comments to .

    The North Carolina Pro Bono Resource Centers COVID-19 Small Business/Nonprofit Initiative

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