State Grant Helps Businesses Still Seeking Funding
If you missed out on PPP or any COVID-related funds, your organization may be eligible to receive valuable funds now through the NC Department of Commerce's Job Retention Grant Program.
1. Are you an employer? – Eligible organizations include private businesses and certain types of nonprofits. (The General Assembly is working to include 501c6 nonprofits, which were accidentally left out of the original legislation. 501c6 organizations may still apply, but funding will depend on legislative changes).
2. Have you received some COVID-related aid already? – You are not eligible if you’ve received (or anticipate receiving) Paycheck Protection Program benefits, OR a Main Street Lending Program loan, OR a state Rapid Recovery loan
3. Have you kept your employees? - You must show that, as of June 30, 2020, you had at least 90 percent of the number of full-time employees you had at the end of February 2020.
4. Has COVID affected your revenues? – You must have seen a decline of at least 10% in sales/receipts from March-May 2019 to March-May 2020
The maximum grant amount may be up to two months of the eligible entity’s average monthly payroll costs from 2019 plus an additional 25% of that amount. The grant amount may not exceed $250,000.
The application deadline is Sept. 1, 2020. There will not be an extension. For more information and to access the application, visit www.nccommerce.com/jrg.