Home Local News NCDOR sends $200M in Business Recovery grants

NCDOR sends $200M in Business Recovery grants

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RALEIGH ― The N.C. Department of Revenue mailed checks to more than 3,900 North Carolina businesses awarded under Phase 2 of the Business Recovery Grant Program on Thursday, Sept. 29. Businesses will begin to receive payments in the coming days.

Funded by the federal American Rescue Plan State Fiscal Recovery Fund, the BRG program provides payment to eligible North Carolina businesses that suffered significant economic loss during the COVID-19 pandemic. Phase 2 of the BRG greatly expanded eligibility for businesses including gyms and fitness centers as well as professionals such as barbers and cosmetologists. The application period for Phase 2 of the program ended on June 1, 2022.

“Small businesses are the backbone of our economy, and Business Recovery Grants from the American Rescue Plan will help thousands of small businesses recover stronger,” said Governor Roy Cooper.

“The legislative intent was for the grant funds to be distributed to eligible businesses in an efficient manner,” said NCDOR Secretary Ronald Penny. “We are pleased to report that we have met that goal.”

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The Department of Revenue launched Phase 2 of the BRG earlier this year after approximately $200 million of the $500 million in funds authorized for the program remained from Phase 1. Two types of grants were available to businesses that suffered an economic loss of at least 20 percent during the pandemic:

  • Hospitality Grant for 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).
  • Reimbursement Grant for an eligible business not classified in NAICS Code 71 and 72.

The grant amount is a percentage of the economic loss demonstrated by the eligible business. Applicants that were not approved will be notified by mail.

In total, more than 7,000 North Carolina businesses will be helped by Business Recovery Grants. There were 3,406 grants awarded in Phase 1, and 3,931 grants awarded in Phase 2.

The program is being supported, in whole or in part, by federal award number SLRFP0129 awarded to the State of North Carolina by the U.S. Department of Treasury under the American Rescue Plan Act.

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