RETOOLNC grant funds available for eligible North Carolina businesses

RALEIGH, N.C. (WECT) – The North Carolina Division of Administration’s Workplace for Traditionally Underutilized Companies (HUB) reopens functions for grant funds June 1 for eligible companies impacted by COVID-19.

The third spherical of funding offers grants of as much as $25,000 for eligible licensed small, underutilized or deprived companies.

“We all know that minority and women-owned companies had been disproportionately impacted by the pandemic,” mentioned Governor Roy Cooper. “The RETOOLNC program offers direct help to traditionally underutilized companies to get the help they nonetheless may have to totally get well.”

All Deprived Enterprise Enterprise (DBE) companies and HUBs are inspired to use.

“As we proceed to emerge from the impacts of the COVID-19 pandemic, it’s important we assist our small companies get well and prosper,” mentioned NC Division of Administration Secretary Pamela B. Cashwell. “This funding will assist lots of these small companies who proceed to battle.”

North Carolina companies should meet the next eligibility necessities for RETOOLNC funds:

• Have been in operation since February 2019
• Be licensed with NCHUB or NCDOT DBE
• Be an unbiased enterprise positioned inside North Carolina
• Be a enterprise with 50 workers or fewer (consists of sole proprietorships, house primarily based companies, and unbiased contractors)
• Not have annual revenues exceeding $1,500,000
• Not be delinquent on North Carolina State revenue taxes
• Not have any lively bankruptcies or tax liens
• Be a for-profit enterprise
• Be an unbiased franchisor and regionally owned, if it’s a franchise
• Present an in depth assertion of how the enterprise has been impacted attributable to COVID-19
• Be engaged in authorized exercise

Click on right here for extra details about RETOOLNC grants and particulars about how you can apply for HUB certification.

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