Western North Carolina small businesses can now apply for grants under a new program, Governor Josh Stein announced last week.
The $30 million public-private partnership with Duke Endowment and Dogwood Health Trust will supply businesses with grants of up to $50,000.
“I am grateful that the Duke Endowment has joined our private-public partnership to ensure that small businesses in western North Carolina can get on the road to recovery,” Governor Josh Stein stated in a press release. “This program is making a difference for the economy, but the need is great. I encourage more North Carolina philanthropies to support this critical work.”
According to the governor’s office, since the initial announcement on January 31, the grant program has already seen more than 900 applicants.
“Small businesses are essential to the social and economic fabric of Western North Carolina,” Rhett Mabry, president of Duke Endowment, stated in a press release. “As communities work to recover from the devastation caused by Hurricane Helene, The Duke Endowment remains steadfast in its commitment to support rebuilding efforts, such as this, ensuring small businesses have the resources they need to emerge stronger than before.”
Funds will be managed by Appalachian Community Capital, with the partnership of the Community Reinvestment Fund on the application process. Eligible businesses can apply through the portal here.
Eligibility requirements are below:
- Businesses with an annual revenue of up to and including $2.5 million.
- Businesses in the 28 counties and the Eastern Band of Cherokee Indians that are covered by President Biden’s federal disaster declaration or in Dogwood Health Trust’s 18-county footprint, including: Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Catawba, Cherokee, Clay, Cleveland, Gaston, Graham, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Surry, Swain, Transylvania, Watauga, Wilkes, Yadkin, Yancey.
