Grants for Minority, Women, Veteran, and LGBTQ owned Small Businesses in North Carolina

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
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.