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City, Foundation for Carolinas launch COVID-19 small business grants
Online applications and information due July 31
 
Published Tuesday, June 23, 2020 9:32 pm
by Herbert L. White | The Charlotte Post

PHOTO | ISTOCK
The city of Charlotte and Foundation for the Carolinas are collaborating on the Access to Capital Small Business Recovery grants for entrepreneurs impacted by the COVID-19 pandemic.

Entrepreneurs impacted by the coronavirus pandemic have until the end of the month to apply for a small business recovery grant.


Applications for the Access to Capital Small Business Recovery grants program, a partnership between the city of Charlotte and Foundation for the Carolinas are online at fftc.org/CLTcitygrant. The partnership will distribute $30 million in federal CARES Act funding to local small businesses impacted by the spread of COVID-19. Applications will be accepted through 5 p.m. on July 31.

The program is part of the city’s Open for Business initiative and will distribute grants of $10,000 or $25,000 depending on the number of employees to small businesses based in Charlotte.

Applications will be picked at random by geography from the applicant pool. Business owners need apply only once, but earlier applications are more likely to be selected because they’ll be available longer.

To qualify for a grant, a business must:

• Be headquartered within the city limits

• Employ no more than 25 people, including part-time employees, if they reported on company’s W-3)

• Have been founded before Jan. 1, 2020

• Be affected by the COVID-19 pandemic

• Have 2019 gross sales of at least $30,000 and no more than $2 million

• Not be in bankruptcy proceedings

Eligibility criteria and a list of required documentation are online at fftc.org/CLTCityGrant. Grants are not guaranteed, and priority will be given to businesses that have not received federal or state COVID-19 related support, or funding from the city’s Micro Business Relief Fund. Phase 1 awards will be distributed the week of June 30 and July 6. Phase 2 awards will be issued the week of Aug. 3.



Comments

Is this the same as the LISC program or a different grant?
Posted on June 24, 2020
 

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