Western North Carolina Small Business Initiative II

The Western North Carolina Small Business Initiative II (WNCSBI II) is a grant program designed to provide financial relief to small businesses in Western North Carolina that suffered physical or economic damage due to Hurricane Helene. The program is administered in partnership with local Community Development Financial Institutions (CDFIs) to distribute funds that assist businesses in recovery and reopening efforts. Grants of up to $50,000 are available, with businesses earning $1,000,000 or less in revenue eligible for up to $25,000 in funding. The application period is open from January 31, 2025, to February 21, 2025. The primary objective of WNCSBI II is to support small businesses that experienced losses due to Hurricane Helene by providing direct financial assistance. The grant funds can be used for various recovery-related expenses, including repairing and replacing damaged infrastructure, environmental cleanup, paying rent or mortgages, and retaining or hiring employees. The initiative aims to ensure that small businesses in the affected region can continue operations or resume business activities. To qualify, applicants must own and operate a for-profit business that is actively registered with the North Carolina Secretary of State (or have an active DBA filing if a sole proprietorship). The business must be physically located in one of 29 eligible counties in Western North Carolina or within the Qualla Boundary. Additionally, the business must have been formed and operational on or before September 27, 2023, and have annual gross revenue of $2,500,000 or less in 2023. Businesses must also provide documentation proving physical or economic damage not covered by insurance or other funding sources due to Hurricane Helene. Certain businesses are not eligible for this grant, including non-profit organizations, businesses outside the specified geographic region, franchises that are not locally owned and operated, residential property rental businesses (e.g., Airbnbs and short-term rentals in residential addresses), country clubs, membership-based clubs, businesses with active bankruptcies or tax liens, and those that have already received or are in the process of receiving a WNCSBI I grant. The application process consists of an initial submission followed by a second round of evaluation for selected applicants. Those advancing to the second round will be required to submit a 2023 federal tax return (or personal tax returns with Schedule C for sole proprietors), a government-issued ID (colored copy), and a voided business check. The review process may take up to two months, and funds will be disbursed after final approval, subject to fund availability. Applications must be submitted no later than February 21, 2025, at 11:59 PM. Applications received after this deadline will not be considered. If additional funding remains available, an additional round of applications may be opened. Grant decisions will be based on eligibility, geographic distribution, and severity of business impact. Questions and further assistance can be directed to wncgrantadmin@crfusa.com.