Mount Airy officials are alerting owners of local businesses to the presence of state grants available to help offset the financial impacts of the coronavirus pandemic.
Time is running out to seek assistance from the Business Recovery Grant Program administered by the N.C. Department of Revenue, for which the application period closes on Monday.
“It’s economic-recovery money for businesses that may have been hurt,” Mayor Ron Niland said of segments impacted.
“And they can apply for a variety of things.”
Two types of grants will be offered to eligible businesses, according to information posted on the city government Facebook page:
• A hospitality grant is available to an eligible arts, entertainment or recreation business, in addition to an eligible accommodation or food service business such as a hotel, restaurant or bar (under NAICS Code 71 and 72).
• Reimbursement grants target eligible businesses not classified in NAICS Code 71 and 72 and which did not receive funding from other relief efforts including the Paycheck Protection, COVID-19 Job Retention Grant and EIDL (Economic Injury Disaster Loan) Advance programs.
The Business Recovery Grant Program will issue a one-time payment to eligible North Carolina businesses that suffered an economic loss of at least 20% during the pandemic, officials say.
Under the guidelines, the grant sum will amount to a percentage of the economic loss demonstrated by the eligible business or $500,000, whichever is less.
The Department of Revenue plans to reduce grant sums if the total assistance requested exceeds the maximum funds authorized for the Business Recovery Grant Program by the state of North Carolina.
Mayor Niland stressed that the COVID assistance being provided through the state government is not connected to federal coronavirus aid the city of Mount Airy has been tapped for through the American Rescue Plan Act of 2021 (ARP).
Eligible business owners are encouraged to apply online for the recovery grants now through Monday at the www.ncdor.gov website.
Source: https://www.mtairynews.com