RFAs: Western North Carolina Small Business Initiative II (US)

The initiative is partnering with local Community Development Financial Institutions (CDFIs) to provide relief grants to small businesses across the region that sustained physical damage from Hurricane Helene.

Funding Information

• Grants up to $50,000 (up to $25,000 for businesses with revenue $1,000,000 or less) are available to eligible small businesses located in Western North Carolina.

Eligible Expenses

• Small businesses can use the grants to cover expenses related to recovery and reopening in the wake of Hurricane Helene. Eligible uses include repair and replacement of physical damage, environmental cleanup, payment of business-related rents or mortgages, employee retention and hiring, and more.

Eligibility Criteria

• To be eligible for a Western North Carolina Small Business Initiative II grant, you must operate a small business that:
  • Is a for-profit business actively registered with the North Carolina Secretary of State (or a sole proprietorship with an active DBA filing)
  • Is physically located in one of the following Western North Carolina counties: 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; or is located in the Qualla Boundary
  • Business was formed and in operation on or before 9/27/23
  • Had $2,500,000 or less in 2023 annual gross revenue
  • Has sustained physical or economic damage (not covered by insurance or other funding sources) from Hurricane Helene
  • Is currently operating or plans to reopen.

Ineligibility Criteria

• Business that is NOT eligible:
  • Is a non-profit organization
  • Is not physically located within the eligible WNC region
  • Is a franchise which is not locally owned & operated
  • Is a residential property rental business including AirBnbs, VRBOs, or other Short Term Rentals (STRs) based at residential addresses (this does not apply to traditional Bed & Breakfasts and other lodging businesses at commercial addresses)
  • Is a country club or other membership-based club
  • Is a business with any active bankruptcies or tax liens
  • Already received or is in process to receive a WNCSBI I grant.

For more information, visit Appalachian Community Capital.