The Orange County Economic Development is accepting applications for its Business Investment Grant Program to stimulate successful non-farm Business Investment development and expansion in Orange County.
Donor Name: Orange County Economic Development
State: North Carolina
County: Orange County (NC)
Type of Grant: Grant
Deadline: 03/31/2022
Size of the Grant: $10,000
Details:
By making economic development grant funds available, the County will be growing its entrepreneurial ecosystem and supporting existing Business Investment and early-stage venture growth, in order to increase jobs, opportunities and grow the commercial tax base in Orange County.
The program will provide two types of grants:
- Small Grant: Use of Funds – Priority will be given to ventures demonstrating a clear need for grant funds to grow their business, hire additional staff, grow the commercial tax base, and/or create a significant social and economic impact in the County.
- Large Grant: High Potential Founders – Although all applicants will be considered, business owners who exhibit the following characteristics will be given priority: a. Have a thorough understanding of their market b. Have assembled a talented team c. Have a passion for building their venture in Orange County High Potential Ventures – Priority will be given to “growth” ventures capable of expanding rapidly, renting office space in Orange County, and hiring Orange County employees.
Use of Funds – Priority will be given to applicants demonstrating a clear need for grant funds to grow their business, hire additional staff, grow the commercial tax base, or create a significant social impact in the County.
Funding Information
- Small Grants: Up to $1,500.00
- Large Grants: From $1,500.01 – $10,000.00
Eligibility Criteria
- Applicant’s business must be located in Orange County in areas zoned appropriately for their use.
- Applicant’s business must be in operation, generating sales/revenue, for at last 6-months prior to the application deadline.
- Applicants and their businesses must not have any past due tax, fee, or fine applicable to Orange
- Applicant must be current with any existing Orange County Small Business Loan, CROP Loan or Emergency Small Business Loan Payments.
- Applicant must wait at least 6-months from previous award before reapplying if they have received funding under the small grant category, or one year if they have received funding under the large grant category.
- Duplication of benefits prohibited. No individual business or affiliated owner(s) shall receive in excess of $10,000 from Orange County’s Small Business and Large Business Investment Grant Programs, the Agriculture Grant Program, and any other County grant awards over a two year period. This prohibition includes a situation in which the same owner(s) owns multiple businesses.
- In such a situation if one or more of the multiple businesses applied for a grant(s) the maximum available to any one or more of such businesses is $10,000.
- Individuals who have taken legal action against the County in the past 12-months, or have an active legal case, and who applies for any available County grant program, are ineligible to apply for and receive grant funding through Orange County Government until the settlement or dismissal of such legal action
Eligible Uses of Grant Proceeds
- Working capital or operational funds to be used for a specific purpose; to include expenses such as marketing, advertising and inventory etc.
- Purchase of equipment, or machinery.
- Expansion of business services or products.
- Work force expansion; to include employee salary (at or above the Orange County living wage)
- Tenant up-fit or leasehold improvements.
For more information, visit Orange County Economic Development.
