RALEIGH, N.C. (WECT) – The North Carolina Department of Administration’s Office for Historically Underutilized Businesses (HUB) reopens applications for grant funds June 1 for eligible businesses impacted by COVID-19.
The third round of funding provides grants of up to $25,000 for eligible certified small, underutilized or disadvantaged businesses.
“We know that minority and women-owned businesses were disproportionately impacted by the pandemic,” said Governor Roy Cooper. “The RETOOLNC program provides direct support to historically underutilized businesses to get the support they still may need to fully recover.”
All Disadvantaged Business Enterprise (DBE) firms and HUBs are encouraged to apply.
“As we continue to emerge from the impacts of the COVID-19 pandemic, it is essential we help our small businesses recover and prosper,” said NC Department of Administration Secretary Pamela B. Cashwell. “This funding will help many of those small businesses who continue to struggle.”
North Carolina businesses must meet the following eligibility requirements for RETOOLNC funds:
- Have been in operation since February 2019
- Be certified with NCHUB or NCDOT DBE
- Be an independent business located within North Carolina
- Be a business with 50 employees or fewer (includes sole proprietorships, home based businesses, and independent contractors)
- Not have annual revenues exceeding $1,500,000
- Not be delinquent on North Carolina State income taxes
- Not have any active bankruptcies or tax liens
- Be a for-profit business
- Be an independent franchisor and locally owned, if it is a franchise
- Provide a detailed statement of how the business has been impacted due to COVID-19
- Be engaged in legal activity
Click here for more information about RETOOLNC grants and details about how to apply for HUB certification.
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