Beyond Open grants are designed to build economic mobility by providing access to capital for diverse (minority, woman, veteran, LGBTQ+, persons with a disability) small business owners without adding debt.
Donor Name: Foundation For The Carolinas
State: North Carolina
County: Mecklenburg County
City: Charlotte
Deadline: 08/31/2023
Size of the Grant: $10k – $150k
Details:
Beyond Open is a competitive grant program that can help diverse small business owners invest in capital assets to grow their business.
- Beyond Open grants do not need to be repaid.
- Beyond Open grants may be taxable events according to the U.S. Internal Revenue Service. Business owners should consult their tax expert for guidance on the possible impacts of receiving a Beyond Open grant in 2023.
Funding Information
- Number of total grant applications anticipated: 1k – 3k
- Number of total grants to be awarded: approximately 175
- Dollar amount of total grants to be awarded: approx. $5 million
- Individual grant amounts: $10k – $150k
Grants CAN be used for:
Capital assets eligible for Beyond Open grants are significant pieces of property that can be owned. Examples include, but are not limited to:
- Computers, printers and other small office equipment
- Cell phones and other communications equipment
- Software licenses (up to one year)
- Build-out of a company website, an e-commerce website, sales system or digital commerce platform
- Hand tools or small appliances
- Minor store or space renovations or improvements
- Small office furnishings, display or showroom equipment
- Storefront beautification or new signage
- Store fixtures (display racks, built-in seating and counters, lighting)
- Business site improvements, HVAC equipment, windows, roofing replacement
- Safety, security and surveillance equipment
- Parking lot resurfacing
- Leading-edge technology
- Purchase of a warehouse or other commercial property (up to 20% of purchase price)
- Lease of a new commercial property (up to one year)
- Large inventory purchases
- Major equipment
- New vehicles (car, truck, van, food service, delivery) or vehicle upfits
- Specialty or industrial equipment
- Renewable energy sources via equipment or technology
- Other significant capital investments
Eligibility Requirements
The focus of the Beyond Open program is on diverse-owned small businesses, with majority (at least 51% ownership) minority, woman, veteran, LGBTQ+ or persons with disabilities ownership.
- Requirement 1
- Physically located within one of the six Corridors of Opportunity as identified by the City of Charlotte.
- You will be asked to provide proof of physical business address inside one of the six Corridors of Opportunity by uploading TWO documents from the list below:
- North Carolina Secretary of State registration with matching address
- Copy of current lease agreement
- Utility bill under business name
- Recorded deed from Mecklenburg County Register of Deeds
- NC Sales & Use tax registration or exemption certificate
- Business zoning receipt
- Bank Statement
- Tax Return
- Requirement 2
- You will be asked to provide proof with one of the following documents showing both the business name and a business date on or before August 1, 2022:
- North Carolina Secretary of State registration
- Copy lease agreement / mortgage statement
- Utility bill under business name
- Register of Deeds with Mecklenburg County Register of Deeds.
- NC Sales & Use tax registration or exemption certificate
- Business zoning receipt
- Bank statement
- You will be asked to provide proof with one of the following documents showing both the business name and a business date on or before August 1, 2022:
- Requirement 3
- For-profit organization. Nonprofit 501(c)(3)s are not eligible to apply in Round 2.
- Requirement 4
- Minimum annual revenue of $30k and a maximum annual revenue of $5M. (Note: revenue to be verified by tax return information.)
- Requirement 5
- Fewer than 200 full and/or part-time employees. (Note: owners should count themselves as an employee for this grant program).
- Requirement 6
- If a franchise, it must be locally owned and independent.
For more information, visit Foundation For The Carolinas.
