North Carolina Small Business Grants
Every business is affected due to the coronavirus pandemic. The pandemic is not over. Small enterprises are desperately looking for opportunities to fund their business.
Most countries’ economies collapsed due to the shutdown of small businesses during the coronavirus pandemic period.
NC Small Business Grants listed below will help small enterprises in North Carolina.
If you run a small business or your business collapsed due to lockdown or any other reason, you should get financial aid to start your business again.
Let’s collect more information about the available grants in NC for Small Businesses.
Thankfully, numerous resources are available to fund small businesses, such as federal packages, small business administration, and other private entities that provide low-interest loans to small enterprises.
Let’s find out the useful resources for NC Small Businesses.
6 Resources for NC Small Business Grants
1. Small Business Administration
The Small Business Administration is a one-stop platform for all your queries. It’s a government agency that provides valuable resources to fund all types of small businesses across the US.
SBA updates its resources regularly so that people can get the right information about the available funding opportunities for their business.
SBA has expanded its support by keeping grants and other resources open to small businesses.
Small businesses still searching for funding opportunities should visit the official website to learn about the open grants and the application process.
2. Local and State Government Funds
Local and state government funds are available to local communities. People should contact their nearby Small Business Development Centers to get information about the funding opportunities and resources available to them.
Local communities can avail themselves of the grant for different purposes.
Small enterprises are more likely to receive the funds for re-developing their business. An application procedure needs to be followed by the applicant along with the required documents about the previous year’s gross income, etc.
3. Grants for Small Businesses by Banks
The NC Rural Center and Trust Bank announced a financial support program for small enterprises.
They have announced $40 million in grants through the non-profit funds. The $40 million grant money will be allocated to minorities and other eligible small businesses in North Carolina.
Women and people from low-income families can also apply for the fund.
Besides this, many private and government banks are offering traditional loans at low interest rates. A proper procedure must be followed to get your loan approved by the banks.
4. Resources for NC Businesses
The NC Department of Commerce provides all the resources you can get financial support for your business.
The website offers information about the available federal grants, low-interest loans by banks, and other funding opportunities through private entities.
Everything you need to know about managing your small business in NC is given on this website.
You can get your queries resolved, explore the communities to improve your knowledge and find out the application procedure to apply for a particular grant.
The related resource links are also given there so you can avail more information about a particular grant.
5. Emergency Loans
Besides all the funding opportunities, The US Chamber’s Coronavirus Emergency Loans are also available for NC Small Businesses.
A small business guide with a checklist of available loans and grant opportunities is here.
Emergency loans are given to small businesses that need emergency financial aid to support their collapsing business.
The Emergency Loans are currently closed for new applicants. However, you can get useful information about your eligibility, avail of the loan, apply for the loan, etc, from the official website.
This portal updates regularly with new announcements made by the government. We hope to see additional grants for small businesses under this program in the coming weeks.
6. North Carolina Small Business Grants
The North Carolina Small Business Grants are a one-stop platform for Small Business owners of North Carolina.
NC has received grants of over $21,000 from federal departments and agencies along with private entities. Besides this, NC’s officials also provided a state grant of over $15,000 to support small businesses.
North Carolina has over 170,000 small businesses run by different communities. This sector plays a vital role in the overall economic development of the state.
Small businesses can receive direct financial support from federal grants and private organizations.
This portal gives you information about what types of federal grants and private grants are available for small businesses. The same portal features direct links to get information about required documents, financial opportunities, etc.
The Bottom Line:
North Carolina’s small business industry has drastically changed over the past few months due to irregular export and import business operations.
Many small businesses collapsed due to a lack of funding. NC Small Business Grants listed above are for all types of small enterprises active in North Carolina.
Explore the given resources, determine the legal requirements to apply for the grant after knowing your eligibility, and receive the funds required to support your business.
The list of resources updates regularly as the authorities announce new grants and funding opportunities.
Interactive US Map for Small Business Grants