From the North Carolina Restaurant and Lodging Association:

Breaking: Gov. Cooper Proposes Immediate Grant Relief for Businesses 

When the Helene disaster hit WNC, NCRLA began actively lobbying the administration and the legislature for immediate small business grants to be delivered to restaurants and hotels facing the greatest losses in the aftermath. In a press conference today, Gov. Cooper proposed a small business recovery grant program much like the one we ran during the pandemic with a few differences. Here are the highlights of the Governor’s proposal, which would require approval from the NC General Assembly:

Phase 1: Immediate Recovery Needs – $150 million

In Phase 1 of the Helene Business Recovery Grant program, businesses are eligible for a grant equal to the lesser of $50,000 or 25% of taxable sales based on sales tax returns filed with NCDOR covering sales from October and November of 2023. For businesses that do not list taxable sales on their sales tax return, the grant amount will be equal to the lesser of $50,000 or 4% of gross receipts as reported on 2022 federal tax schedules.

• Businesses eligible for Phase 1 are those with at least $8,000 in taxable sales in October and November of 2023 or $37,500 in 2022 gross receipts and that are registered in counties with valid FEMA IA applications equal to 10% or more of certified 2023 county populations as of October 24, 2024. The minimum qualifying grant amount is $1,500.
• An estimated 23,000 employers and more than 24,000 non-employer businesses would potentially be eligible for Phase 1 grants in the thirteen counties projected to have IA applications numbering more than 10% of the county population. However, based on participation rates in the COVID-19 Business Recovery Grant program and other state and federal programs assisting businesses, OSBM expects fewer than 25,000 businesses toreceive Phase 1 BRG grants. Businesses must apply for grants, and they will be awarded on a first-come, first-served basis until funds are exhausted.

Phase 2: Sustaining Business Recovery – $325 million

In Phase 2 of the Helene Business Recovery Grant program, businesses that can demonstrate a loss of gross revenues of 20% or more based on gross receipts in October-December 2023 versus the same period in 2024 are eligible for a grant equal to the lesser of $75,000 or 25% of the reduction in gross receipts in the final three months of 2024 compared to the final three months of 2023. Businesses must have a reduction in gross revenues in the qualifying period of at least $6,000 to qualify (equal to a minimum grant of $1,500) to be eligible for a Phase 2 grant.

• Businesses registered in all counties eligible for FEMA IA are eligible. There are more than 100,000 employers and more than 115,000 non-employer businesses potentially eligible for Phase 2 grants, but only a fraction will experience a large enough decline in sales to be eligible, particularly outside of the areas hardest hit by Hurricane Helene. Businesses must apply for grants, and they will be awarded on a first-come, first-served basis until funds are exhausted.

See the Gov. Cooper’s full proposal, which also includes local infrastructure grants and tourism funding, here.