The City of Fayetteville is offering small business grants for those businesses who need pandemic recovery support.
Donor Name: City of Fayetteville
State: North Carolina
City: Fayetteville
Type of Grant: Grant
Deadline: Ongoing
Size of the Grant: $50,000
Details:
Eligible small businesses, impacted by the COVID-19 pandemic, could receive a grant from the City of Fayetteville. Online applications for the Small Business Relief Grant Program are open.
Fayetteville City Council members approved a total of $3 million dollars for the program funded by the American Rescue Plan Act (ARPA) of 2021.
Small Business Relief Grants can be used to cover mitigation costs related to the pandemic or to reimburse other expenses that resulted from the pandemic. Small businesses with less than 200 employees at a physical location in Fayetteville and small businesses with less than 200 employees with physical storefronts, in qualified census tract areas, may be eligible for one or both programs.
Funding Information
The new program includes two grant categories. The maximum award an applicant can receive for small business development and retention is $50,000. The maximum award an applicant can receive for commercial corridor improvement is $50,000. Eligible applicants can apply for both categories and receive a total of up to $100,000.
Eligibility Criteria
- For-profit businesses operating within Fayetteville, North Carolina, employing up to two hundred (200) employees may apply. A business must have been in operation on or before March 3, 2021, and still, be in operation currently.
- A contractual relationship will be established between the City and the small business to ensure compliance with City, State, and Federal guidelines.
- The business must be located in a Qualified Census Tract (QCT) or must make a commitment to hiring or retaining low to moderate income individuals within the next year.
- The business must possess the capacity to be successful with the use of American Rescue Plan Act funds.
- Businesses must be registered to a non-PO box and must operate out of a non-residential address fulltime
- If the business is a sole proprietorship or a partnership, each person owning an interest in the business must be at least 18 years old.
- The business must have a valid Tax Identification Number consisting of the owner’s social security number if the business is a sole proprietorship or Federal Employer Identification Number if the business is other than a sole proprietorship; a State Employer Number; and a business bank account in the name of the business.
- If the business is a corporation, limited liability company, or limited partnership, it must be registered in good standing with the North Carolina Secretary of State.
- The business must not currently be in bankruptcy. If the business is a sole proprietorship or a partnership, no person owning an interest in the business may currently be in bankruptcy.
- The business is current with property taxes and any fees collected with property taxes or has a payment plan with the tax collector.
- Intend to stay in business for the following 12 months.
For more information, visit City of Fayetteville.
