NCDOR is accepting applications for Phase 2 of the Business Recovery Grant program
By Staff Report, posted May 18, 2022 on BizFayetteville.com
The North Carolina Department of Revenue is still accepting applications for Phase 2 of the Business Recovery Grant program.
Since opening applications May 2, the NCDOR has received more than 7,000 applications. The Business Recovery Grant will issue payments to eligible North Carolina businesses that have suffered an economic loss of at least 20 percent during the COVID-19 pandemic.
Additional businesses qualify for the grants due to updates to the program’s eligibility criteria. The Business Recovery Grant is now open to other industries outside of the hospitality industry.
Businesses who have already received other COVID-19 relief funds are also eligible to apply.
“The response to Phase 2 of the Business Recovery Grant program has been tremendous,” said Secretary Ronald Penny. “We are happy to see so many businesses apply because our goal is to give away every cent of the BRG grant funds to eligible businesses.”
Approximately $200 million remains to be granted of the $500 million in the American Rescue Plan funds for the program.
Two types of grants are 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 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.
Eligible business owners may apply for Phase 2 here. The deadline to submit applications is June 1.
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