Sometimes the last thing standing in our way to greatness is funding. We can have air-tight business plans, loyal customers who demand our products, and the best team of employees on the planet, but without positive cashflow, success can still seem out of reach.
When you get to that point, you’ve got to get creative.
Did you know that government at all levels have programs designed for small businesses? Generally speaking, start-ups don’t usually qualify for grants and many programs are extremely specific on what qualifies as an eligible business, but it’s still worth a look.
Below, we’ve compiled a list of small business grants in NC that could be the bump you need to hit your next target.
The JDIG is a performance-based, discretionary incentive program that gives cash straight to a company. This is a program for companies that create jobs and invest in the state. Grants are only given when a company is in a competitive, recruitment, or retention phase.
Payments are made annually for terms up to 12 years. The Departments of Commerce and Revenue conduct yearly performance reviews in order to determine whether or not a company is still eligible for the grants.
As long as the company remains in compliance, a percentage of the newly generated taxes from the new jobs will be reimbursed to that company.
OneNC can be granted at the discretion of the governor in rapid response to competitive job creation projects.
Awards are based on:
Key Criteria:
Under the same umbrella as the previous entry, this program specifically targets small businesses in two areas: Matching Funds and Incentive Funds.
General Requirements:
For a full list of requirements click HERE.
CDBG funds are given to contractors who revitalize low to moderate income housing developments. The goal is to enhance the vitality of communities by providing decent housing and suitable living environments and expanding economic opportunities.
Local governments receive funding from the U.S. Department of Housing and Urban development, then disburse the grants to companies fulfilling infrastructure needs in their municipalities.
Some eligible projects:
To find your closest grantee and apply, click HERE.
This grant program is for government entities and 501(c)(3) nonprofit organizations. GoldenLEAF Infrastructure grants are for agencies whose projects are at risk if they do not receive funding.
Other determining factors:
For help writing your proposal, contact:
Click HERE to start your application.
This program uses state funds for the refurbishment and modernization of railroads. New or expanding companies may apply. An award can only be made after confirmation of a private or local sources’ commitment to match funds.
Grant recipients are presented a maximum of 50% of the project’s total cost, with a $200,000 limit.
Eligible projects:
Ineligible projects include, but are not limited to:
This program encourages the repurposing of older, vacant buildings. There are 3 eligible categories:
Building must be vacant for at least 3 months prior to the application deadline.
Designed for the renovation and expansion of existing buildings where a business has been located for at least 12 months. The company must also meet the weekly wage standard, provide at least 50% benefits to employees, and be represented on the Priority Industry Table
Support for the renovation, expansion, or construction of health care sites. Priority is given to Tier 1 or 2 counties, or a rural census tract in Tier 3.
A map for Tier 3 rural census tracts can be found HERE.
For contact information or to start the application process, click HERE.
Designed to support the demolition of vacant buildings for the purposes of site rehabilitation and economic development.
Applicants must be located in a Tier 1 or 2 county or a rural census tract in Tier 3.
For a complete list of requirements or to start your application, click HERE.
This fund is for project owners who bring new or expanded natural gas or propane services, or expanded agricultural production or processing capabilities to North Carolina. Funds are disbursed for excess infrastructure costs or effective alternatives. New and existing projects are treated the same.
Eligibility considerations:
For full guidelines and procedures, click HERE.
Through OJT, a wage reimbursement incentive may be provided to a business to help offset the cost of training a new employee with limited skills. Wage reimbursement ranges from 50 to 75 percent, depending upon the size of the business, with the higher percentage for businesses with up to 250 employees.
OJT funds are only provided for up to 6 months. Prior to hiring, a professional development plan will be created by the employer to keep track of the new employee’s achievements.
Applications may be submitted through your local Workforce Development Board Business Services Representative.
This program is to help offset the cost of continuing workplace education for employees who have been at a company for at least 6 months. Training should lead to an increased skill level, so that employees can be promoted and the employer can backfill opportunities for less skilled or experienced employees. The business must participate in the cost of the training, through cash payments or in-kind contributions, based upon the size of the company.
Applications may be submitted through your local Workforce Development Board Business Services Representative.
Federal Bonding provides FREE individual fidelity bonds to employers when they hire “at risk” individuals, who traditionally have had difficulty finding meaningful employment. Employers receive $5,000 in coverage for the first six months of employment. The coverage protects the employer from acts of dishonesty such as theft, larceny or embezzlement.
High-Risk Employees include people who have:
Other requirements:
More information can be found on the Federal Bonding website.
The Main Street Solutions Fund is a reimbursable matching grant program. The North Carolina Department of Commerce and the NC Main Street & Rural Planning Center are authorized to award grants from the Main Street Solutions Fund totaling not more than $200,000 to each eligible local government.
Funds from local governments, Main Street organizations, downtown organizations, downtown economic development organizations, private businesses, and sources other than the state or federal government must be committed to match the amount of any grant from the Main Street Solutions Fund on a basis of a minimum of two non-state dollars for every one dollar provided by the State.
Key Eligibility Requirements:
For a complete list of requirements and to start your application, click HERE.
NC offers rebates to film industry projects, up to 25% on qualified expenses.
To qualify:
Grant limits:
Visit the North Carolina Film Office website for more information.
To get expert advice on how to write your grant application (and possibly find other programs available to you), visit grants.gov.
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