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Deadline To Apply For Recovery Grants Wednesday

Deadline To Apply For Recovery Grants Wednesday

The deadline for businesses impacted by the COVID-19 pandemic to apply for Phase 2 of the Business Recovery Grant Program (BRG) is Wednesday, June 1. BRG will issue a one-time payment to eligible North Carolina businesses that suffered an economic loss of at least 20 percent during the pandemic. BRG is funded by the federal American Rescue Plan. The N.C. Department of Revenue is administering the program.

As of May 27, the NCDOR has received more than 13,000 applications. Applicants must submit online applications before midnight on June 1. Paper applications must be received by the NCDOR at the location designated on the application on or before June 1.

Eligibility for grants has been expanded for Phase 2 of the BRG. In addition to COVID-impacted businesses in the hospitality industry such as restaurants and hotels, the BRG is open to all other industries. Additionally, a business that received other COVID-19 relief may now be eligible for a grant in Phase 2.

The types of businesses that may be eligible for a grant include Farmers and agribusinesses, Gyms and Personal Training businesses, Salons and Barbershops, Massage Therapy businesses, Dental offices, Law firms, Doctors offices, Interior Design businesses, Hardware Stores, Pharmacies, Landscapers, Tailor and Dry Cleaning businesses.

Approximately $200 million remains to be granted of the $500 million in American Rescue Plan funds appropriated 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. A reimbursement grant is available to an eligible business not specifically classified.

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.

Eligible business owners may apply for Phase 2 online at https://www.ncdor.gov/business-recovery-grant. More detailed information and answers to Frequently Asked Questions is also available on the agency website.

[WACB’s Rick Gilbert contributed to this story]