Grant For Small Businesses In Nc
We want to ensure that every small business owner of North Carolina has the opportunity to be seen and receive assistance when it’s needed. To help business owners of NC connect to faster funds they need when they need it, we are launching the Viably Grow Grant. We will be offering a grant of $2,500 to ONE new Viably customer with a small business in North Carolina each month.
One North Carolina Fund
The One North Carolina Fund is a discretionary cash-grant program that allows the Governor to respond quickly to competitive job-creation projects. The North Carolina Department of Commerce administers OneNC on behalf of the Governor. Awards are based on the number of jobs created, level of investment, location of the project, economic impact of the project and the importance of the project to the state and region.
Taking The Leap 4 Week Cohort
If youve ever been interested in starting a business but dont know where to begin, Taking the Leap is a great resource for you! In this free four week long cohort, participants will learn about different aspects of starting a business, including identifying potential markets, writing a business plan, running the finances of a business and marketing a business. Youll work with mentors and peers in fun breakout activities designed to help strengthen your business ideas and prepare you for success. Taking the Leap is a state-wide program. For dates and locations visit TakingTheLeap.
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What Does This Program Do
Who may apply for this program?
- Rural cooperatives .
What is an eligible area?What kind of funding is available?How may funds be used?
- Training and technical assistance, such as project planning, business counseling and training, market research, feasibility studies, professional or/technical reports or producer service improvements.
- Acquisition or development of land, easements, or rights of way construction, conversion, renovation of buildings plants, machinery, equipment, access for streets and roads parking areas and utilities.
- Pollution control and abatement.
- The capitalization of revolving loan funds, including funds that will make loans for start-ups and working capital.
- Distance adult learning for job training and advancement.
- Rural transportation improvement.
- Feasibility studies and business plans.
- Leadership and entrepreneur training.
- Community economic development.
- Feasibility studies and business plans.
- Leadership and entrepreneur training.
- Evidence showing job creation at local businesses.
- Percent of non-federal funding committed to the project.
- Economic need in the area to be served.
- Consistency with local economic development priorities.
- Experience of the grantee with similar efforts.
How do we get started?What law governs this program?
- Basic Program 7 CFR Part 4280, Subpart E. This program is authorized by the Consolidated Farm and Rural Development Act .
- This program was authorized by the Consolidated Farm and Rural Development Act .
North Carolina Cooperative Extension
North Carolina A& T State University and North Carolina State University
Based at the state’s two land-grant educational institutions, North Carolina A& T State University and North Carolina State University, this educational partnership helps people put research-based knowledge to work for economic prosperity, environmental stewardship and an improved quality of life. There are programs in all 100 counties, many of which offer business and entrepreneurship-related programs.
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Diverse Small Business Grant Program Offers Up To $250000 To Help Entrepreneurs Build Grow And Scale
Applications are now being accepted for Beyond Open grants from $5,000 – $250,000 to help diverse small businesses obtain capital assets such as equipment, technology, real estate, and inventory.
Beyond Open is a small business grant program led by Foundation For The Carolinas and made possible by support from Wells Fargos Open for Business Fund to help diverse small business owners grow businesses, build wealth, and expand economic mobility in Charlotte and Mecklenburg County.
Beyond Open grants do not need to be repaid.
Application eligibility requirements for Beyond Open grants include:
- Diverse minority, woman, veteran, LGBTQ business ownership
- 1-499 employees
- Business located inside Mecklenburg County. Priority for grants will be given to diverse small businesses that are within or adjacent to the six Charlotte Corridors of Opportunity, but all eligible diverse small businesses are encouraged to apply.
Diverse small business owners in Charlotte-Mecklenburg are invited to participate in upcoming virtual and in-person community information events to learn more and prepare to apply. Application support, guidance on next steps, and answers for questions are also available from Beyond Open community partner organizations, with direct contact information available through the Beyond Open website.
Complete information about Beyond Open in English, Spanish, and Vietnamese, and the open application, are available at beyondopenclt.com.
North Carolina Small Business Grants
With more than $20,942.00 million dollars in grants and additional local government funding sources of $15,308.00 million dollars, the majority of the federal budget in government grants is put into the business sector every year as small businesses and large corporations are the foundation of the economic growth in North Carolina. There are 169,798 business establishments in the state of North Carolina, and they break down to the following:
North Carolina Business Sector Breakdown by Size:
- 100,226 registered businesses in North Carolina have 0 to 4 employees. People who work at home with sole proprietorship are included in this breakdown.
- 29,242 registered businesses in North Carolina have 5 to 9 employees.
- 18,000 registered businesses in North Carolina have 10-19 employees.
- 15,371 registered businesses in North Carolina have 20-99 employees.
- 3,547 registered businesses in North Carolina have 100 to 499 employees.
- Over 3,412 registered businesses in North Carolina have over 500 employees.
North Carolina Business Sector Breakdown in Service Industries:
If you are in the farming industry, you may be eligible to apply for small business grants as well. There are more than 53,000 farms in the state of North Carolina.
To apply for business grants in North Carolina, contact North Carolina financial aid agencies.
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North Carolina Small Business Program Accepting Applications
Raleigh, N.C. North Carolina Commerce Secretary John E. Skvarla, III, announced that applications are now being accepted for the Fiscal Year 2015-2016 One North Carolina Small Business Matching Funds Program. The program provides funding to help small businesses develop and commercialize innovative new technologies.
Under the program, the State of North Carolina will provide matching grants of up to $50,000 to North Carolina businesses that have received either federal Small Business Innovation Research or Small Business Technology Transfer grant awards. SBIR/STTR grants are the single largest source of early stage technology development and commercialization funding for small businesses, providing approximately $2.5 billion annually, according to the U.S. Small Business Administration.
Many of the most game-changing innovations take place at small and entrepreneurial environments, said Secretary Skvarla. The One North Carolina Small Business program is part of our strategy for moving North Carolina-born technologies into the global marketplace more quickly, which facilitates small-business job growth across the state.
North Carolina is among a handful of business-friendly states with a matching program to leverage federal funds and help homegrown businesses commercialize innovative technologies and create jobs. South Carolina, Kentucky and Virginia have modeled similar offerings after North Carolinas program.
Federal Bonding For High
Federal Bonding provides FREE individual fidelity bonds to employers when they hire at risk individuals, who traditionally have had difficulty finding meaningful employment. Employers receive $5,000 in coverage for the first six months of employment. The coverage protects the employer from acts of dishonesty such as theft, larceny or embezzlement.
High-Risk Employees include people who have:
- A history of arrest and conviction
- Substance abuse problems
- Poor credit or have declared bankruptcy
- A dishonorable discharge from the military
- A lack of sufficient work history
Other requirements:
- Employee must be receiving a W2 at the end of the year
- Bond must be established prior to the first day of work
- Employer must deduct all federal and state taxes from paycheck
- Self-employed individuals are NOT eligible for the Federal Bonding Program.
More information can be found on theFederal Bonding website.
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North Carolina Business Recovery Grant Program
In May, North Carolina will launch its Business Recovery Grant Program. Around $200 million is available in this round. Small businesses in North Carolina must have lost at least 20 percent of their revenue during the pandemic. A few types of businesses that didnt qualify during Phase 1 will also be included in this funding round. Farmers, gyms, salons, doctors, lawyers, retail businesses, and landscapers will all be eligible for Phase 2. Grants up to $500K are available. Applications are due June 1.
North Carolina Biotechnology Center
The North Carolina Biotechnology Center offers Company Funding to innovative life sciences companies, University Technology Development Funding to North Carolina universities to support innovative research with promising commercial potential and Event and Meeting Grants to help N.C. nonprofits hold events accross the state to encourage cooperation and innovation. The Center has provided biotechnology industry support and advocacy through support of research, business, education and strategic policy since 1984.
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What Is A Grant
Grants from public agencies are often awarded to new products, services, and projects. It is beneficial for small businesses to be able to apply for grant programs because the money doesnt have to be repaid. Even though securing and administering grants can take time and effort, they can provide low-cost growth. There is a lot of complexity and time involved in grant applications. You must show the financial capability to qualify for a small business grant. Local governments, charities, and foundations provide grants.
A Guide To Small Business Grants In North Carolina
Sometimes the last thing standing in our way to greatness is funding. We can have air-tight business plans, loyal customers who demand our products, and the best team of employees on the planet, but without positive cashflow, success can still seem out of reach.
When you get to that point, youve got to get creative.
Did you know that government at all levels have programs designed for small businesses? Generally speaking, start-ups dont usually qualify for grants and many programs are extremely specific on what qualifies as an eligible business, but its still worth a look.
Below, weve compiled a list of small business grants in NC that could be the bump you need to hit your next target.
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Basic Requirements For Eligibility
In order for a project to be considered for OneNC, the following criteria must be met:
- The project must be competitive with locations outside North Carolina and remain competitive until the grant is formally awarded.
- The project must meet the county average wage requirement.
- The local government must match the grant via cash, fee waivers, in-kind services, infrastructure improvement or donations of land, buildings or other assets.
- The company must provide health insurance and pay at least 50% of the premiums for participating employees.
- The company must meet statutory occupational safety and environmental compliance requirements.
Applications are accepted on an ongoing basis and subject to availability of funds. The North Carolina Department of Commerce reviews applications and makes recommendations for funding to the Governor.
OneNC funding is dispersed in 25% increments as the company creates new jobs. For instance, if a company commits to creating 100 jobs over three years, as soon as the company has created the first 25 jobs, it is eligible to receive 25% of the award. North Carolina statute requires that the company maintain at least 90% of the new jobs in operation at the project location, or at another approved site in North Carolina, for a period of up to two years after the grant end date.
New Grant Funding Available For Tech
Applications are now being accepted for a new round of grantmaking from the One North Carolina Small Business Program, a key source of capital for North Carolinas emerging technology companies.
The One North Carolina Small Business Program provides critical support to some of our states most promising new companies, said North Carolina Secretary of Commerce Machelle Baker Sanders. Recent enhancements to the program open the door for even more tech entrepreneurs to grow their companies in North Carolina.
The One NC Small Business Program works in conjunction with two federal technology grants, the Small Business Innovation Research and Small Business Technology Transfer programs. Following recent changes, the state program can support North Carolina companies as they prepare and submit initial proposals to the federal government, as well as provide grants to match previously awarded federal grants.
The One North Carolina Small Business Programs Incentive Funds and Matching Funds initiatives are administered by the North Carolina Department of Commerce on behalf of the North Carolina Board of Science, Technology & Innovation . Grant awards help small businesses in the state develop and commercialize innovative new technologies, in the process growing jobs and investment in their communities.
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Job Development Investment Grant
The JDIG is a performance-based, discretionary incentive program that gives cash straight to a company. This is a program for companies that create jobs and invest in the state. Grants are only given when a company is in a competitive, recruitment, or retention phase.
Payments are made annually for terms up to 12 years. The Departments of Commerce and Revenue conduct yearly performance reviews in order to determine whether or not a company is still eligible for the grants.
As long as the company remains in compliance, a percentage of the newly generated taxes from the new jobs will be reimbursed to that company.
Awards are based on:
Under the same umbrella as the previous entry, this program specifically targets small businesses in two areas: Matching Funds and Incentive Funds.
General Requirements:
- Must be a for-profit small business located in North Carolina
- At least 51% of business must be done in North Carolina
- Must meet all employment requirements mandated by federal law
For a full list of requirements click HERE.
Section I: Eligibility And Qualification For The Business Recovery Grant Program
1. What is the Business Recovery Grant Program ?
The Business Recovery Grant Program provides a grant payment to aid eligible North Carolina businesses that suffered significant economic damage from the COVID-19 pandemic. The Program was established in Session Law 2021-180 that was signed by Governor Cooper in November 2021. Legislation signed by the Governor in March 2022, updates the Programs eligibility criteria allowing many additional businesses to apply for the Program.
2. Is this a new grant program?
No, this is not a new grant program. As required by law, the NCDOR re-opened the application period of the Program because the total amount of grants requested by eligible businesses during the initial application period did not exhaust the $500 million in funds authorized for the Program.
Phase 1 of the Program closed on January 31, 2022. The application period for Phase 2 of the Program closed on June 1, 2022.
3. What businesses may be eligible for a grant in Phase 2?
In addition, a business that was ineligible during Phase 1 because it received other COVID-19 relief may now be eligible for a grant in Phase 2. For more information on what is considered other COVID-19 relief, go to Section III, Question 2.
The application period for Phase 2 of the Program closed on June 1, 2022.
4. What are the eligibility requirements for Phase 2 of the Program?
The eligibility requirements for Phase 2 depend on the type of grant.
Hospitality Grant
Reimbursement Grant
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Find Latest Loans And Free Grants For Small Businesses In North Carolina
There are often new programs announced daily, weekly, or monthly. The list of loans and grants for MWBE, veteran and BIPOC-owned businesses listed below in North Carolina will be updated daily. As noted, while any business or entrepreneur can apply, there will always be a certain amount of money allocated to women, Black owned businesses, Hispanic companies, and other lenders. Veteran businesses in North Carolina also tend to get priority.
Grants To Provide Technical Assistance For Rural Transportation Systems
USDA is inviting applications for grants to provide Technical Assistance for passenger Rural Transportation systems under the Rural Business Development Grant program and the terms for such funding. Federal Register Notice Application Dates Open Date: January 14, 2022Close Date: April 14, 2022, 4:30 p.m. local time
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Amber Grants For Women
Several websites offer grants for women that can be found by searching on Google. There are plenty of scams and complicated government sites. Numerous forms and applications ask for personal information and financial records.
Funding for your business venture can be found with WomensNet. There will still be some hard work and time involved. The site is a great resource for those who want to take their business to the next level. The Amber Grant for Women is a great place to start. The grant is open to business women from around the country . Its the perfect time to apply for this $10,000 Amber Grant, awarded monthly. Youre automatically eligible for a $25,000 grant if youre one of their 12 monthly winners. Over a year, thats $35,000 in grant money.
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!
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