Cabarrus County to local businesses: “We have money, come get it”
Applications due online or in person by this Friday
CABARRUS COUNTY, N.C. (WBTV) - In a news release, Cabarrus County announced it has re-opened its Small Business Support Program application portal to give local businesses a second chance to apply for one-time grants of up to $10,000.
Local businesses should act fast—the deadline to apply is Friday, November 19.
Cabarrus County dedicated $5 million in American Rescue Plan Coronavirus State and Local Fiscal Recovery Funds to the program, which could help as many as 500 businesses.
Qualifying expenses include:
- Payroll and benefit costs
- Operating costs
- COVID-19 prevention (e.g., physical barriers, cleaning, testing, etc.)
Eligible businesses must:
- Have a location within Cabarrus County that opened before January 1, 2020
- Demonstrate a revenue decline through 2019 and 2020 Federal tax returns
- Operate as a for-profit agency
- Have an independent owner/operator
- Employ 50 or fewer workers
- Demonstrate loss of revenue due to COVID-19
- Be in good standing with all Federal, State and local governments (taxes, etc.)
- Meet County vendor onboarding requirements
Cabarrus small business owners took advantage of the grants when they were first announced in October. The funds are already helping with critical needs at Ketchie, Inc., a precision machining shop in Concord.
Owner Courtney Silver said supply chain volatility and the labor shortage are the two biggest difficulties facing her company, which employs between 25 and 30 people. After learning of the grant and determining her eligibility, she applied.
“It was a really easy process; super simple,” Silver said, adding that she was thoroughly informed during the approval process. “I can use the money directly for my recruiting efforts. I can also use it to increase my benefit offerings, health benefits or otherwise. We’re adding an additional holiday this year so it’s going to help offset that expense.”
The County will review applications and allocate funding after the November 19 deadline.
How to apply
To learn more and apply, visit //cabarruscounty.us/BizGrant21.
From there, you can:
- Review information
- Apply online in a few easy steps
- Download and print the application
Just answer a few qualifying questions, including how the business impacts Cabarrus County’s economy.
To complete the process, submit the business’ 2019 and 2020 Federal tax returns with the application.
Paper applications are available at Cabarrus County’s libraries, Human Services Center, Veteran Services Office, Board of Elections Office, Senior Center in Concord and the Government Center (County Manager’s Office).
For more information on the program, email email@example.com or call the County Manager’s Office at 704-920-2100.
Previous COVID-19 assistance
Businesses that received COVID-19-related financial assistance (i.e., PPP) are eligible to apply for the grant, though priority may be given to businesses that have not received such assistance.
Ineligible business categories
The Federal government has outlined which businesses are ineligible for funding. These include, but are not limited to, non-profit businesses, financial businesses primarily engaged in lending, pyramid sale distribution plans and political organizations.
Steps toward recovery
The $5 million small business support initiative falls in line with other County efforts to support recovery.
Since March of 2020, the County has allocated its share of federal and state recovery funds in the following ways:
- $6.5 million toward emergency rental and utility assistance
- More than $1 million in Nonprofit Resiliency Grants to 32 local agencies that helped stabilize the community during the pandemic
- $33.5 million toward local efforts to support the community’s highest needs
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