CHARLOTTE, N.C. — The North Carolina Department of Revenue (NCDOR) is now expanding applications for businesses wanting to apply for the Business Recovery Grant (BRG) program.
According to the agency, the expansion started Monday, May 2, and includes additional businesses due to updates to the program's eligibility requirement.
The program will issue a payment to an eligible North Carolina business that felt an economic loss of at least 20% during the COVID-19 pandemic.
NCDOR said the grant amount is a percentage of the economic loss demonstrated by the business or $500,000, whichever is less.
The application deadline in Wednesday, June 1.
“Barbershops, cosmetology businesses, gyms, and other businesses that provide services were hit hard by pandemic and it’s important to expand these grants from the American Rescue Plan to help them,” Governor Roy Cooper said in a news release obtained by WCNC Charlotte. “Our small businesses are the backbone of our economy and strong support for them is critical.”
Many businesses that did not qualify for the first phase of the program can now apply, according to NCDOR. Along with COVID-19 impacted businesses, like restaurants and hotels, the BRG is open to other businesses including, but not limited to:
- Farmers and Agribusinesses
- Gyms and Personal Training businesses
- Salons and Barbershops
- Massage Therapy businesses
- Dental Offices
- Law Firms
- Doctor Offices
- Interior Design businesses
- Hardware Stores
- Pharmacies
- Landscape businesses
- Tailors and Dry Cleaning businesses
In addition to COVID-impacted businesses above, the BRG is open to other businesses in all other industries that were affected by the pandemic, according to the press release.
A business that received other COVID-19 relief may be eligible for a grant in Phase 2.
NCDOR said approximately $200 million remains to be granted of the $500 million in American Rescue Plan funds appropriated for the program.
MORE NEWS: 'It feels surreal': Charlotte stay-at-home mom's pretzel business sees major growth during COVID
“Our hope is that the expanded Business Recovery Grant program requirements will encourage more eligible North Carolina businesses to apply,” said NCDOR Secretary Ronald Penny. “These funds are available for eligible businesses that suffered a financial loss because of the pandemic and we want to make sure those businesses receive them.”
Two types of grants will be available to eligible businesses for Phase 2:
- A hospitality grant is available to an eligible arts, entertainment, or recreation business, as well as an eligible accommodation or foodservice business such as a hotel, restaurant, or bar (NAICS code 71 and 72).
- A reimbursement grant is available to an eligible business not classified in NAICS Code 71 and 72.
"Gross receipts reported on an expanded list of tax forms can be used to calculate an economic loss for Phase 2, making the BRG available to eligible sole proprietors, corporations, and other businesses that do not report gross receipts on Form E-500 or Federal Form 1065. This change may also allow businesses that primarily provide services to apply for a larger grant award during Phase 2," the press release read.
Eligible businesses can now apply by visiting the NCDOR website.
WCNC Charlotte is part of seven major media companies and other local institutions reporting on and engaging the community around the problems and solutions as they relate to the COVID-19 pandemic. It is a project of the Charlotte Journalism Collaborative, which is supported by the Local Media Project, an initiative launched by the Solutions Journalism Network with support from the Knight Foundation to strengthen and reinvigorate local media ecosystems. See all of our reporting at charlottejournalism.org.