The N.C. Department of Revenue (NCDOR) plans to launch the application for Phase 2 of the Business Recovery Grant (BRG) program on Monday, May 2, 2022, with changes to the program’s eligibility criteria allowing many additional businesses to qualify for these grants.
BRG will issue a payment to an eligible North Carolina business that suffered an economic loss of at least 20 percent during the pandemic. The grant amount is a percentage of the economic loss demonstrated by the eligible business or $500,000, whichever is less. The application deadline is June 1, 2022.
“Barbers, cosmetologists, gyms and other service providers were hit hard by the pandemic and it’s important to expand these grants to help them too,” said Governor Roy Cooper. “Our small businesses are the backbone of our economy and strong support for them is critical.”
Many businesses excluded in Phase 1 are eligible to apply in Phase 2. In addition to COVID-impacted businesses in the hospitality industry such as restaurants and hotels, the BRG is now open to other businesses affected by the pandemic such as:
- Farmers and Agribusinesses
- Gyms and Trainers
- Salons and Barbers
- Massage Therapists
- Interior Designers
- Hardware Stores
- Tailors and Dry Cleaners
Additionally, a business’s previous receipt of a grant award from certain federal programs will not make it ineligible for a reimbursement grant. This list is non-exhaustive, and businesses are encouraged to visit https://www.ncdor.gov/business-recovery-grant to learn more about eligibility criteria beginning May 2.
Following the initial application period, which closed on January 31, approximately $203.5 million remained of the $500 million in funds initially authorized for the program. NCDOR worked with the N.C. General Assembly to expand eligibility to certain businesses impacted by the pandemic but that did not qualify for the first round of funds.
- A hospitality grant is available to an eligible arts, entertainment, or recreation business, as well as an eligible accommodation 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 not classified in NAICS Code 71 and 72. A business’s previous receipt of a grant award from certain federal programs will not make it ineligible for a reimbursement grant.
On May 2, eligible business owners will be able to apply for Phase 2 online at www.ncdor.gov. More detailed information and answers to Frequently Asked Questions will also be available on the agency website.