RALEIGH — North Carolina Gov. Josh Stein on Friday announced a $30 million grant program to support small businesses affected by Hurricane Helene in western North Carolina.
The initiative, launched in partnership with Dogwood Health Trust, will provide grants of up to $50,000 to eligible businesses with annual revenues of $2.5 million or less.
The Western North Carolina Small Business Initiative aims to address the estimated $13 billion in revenue losses suffered by regional businesses in the hurricane’s aftermath. The program will help cover essential expenses including payroll, operations and recovery costs as tourism gradually resumes in the area.
“Small businesses are the heart of western North Carolina and need our support to get through these slow winter months,” stated Stein during the announcement in Boone. “The Western North Carolina Small Business grant program will help small businesses with their urgent needs and support the region’s economic recovery. I am proud these state dollars are leveraging additional Dogwood Trust dollars, and I am grateful to Dogwood for its leadership.”
The program combines state funding with additional support from Dogwood Health Trust, which initiated its hurricane relief efforts last fall.
“These businesses are vital to the health of our communities,” said Dr. Susan Mims, president and CEO of Dogwood Health Trust. “We are proud to expand our support alongside the state of North Carolina and encourage more philanthropic organizations to support this critical effort.”
Stein also announced $6 million in additional funding will be split equally between Baptists on Mission and Habitat for Humanity NC for ongoing housing repair initiatives.
The initiative covers businesses in Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Catawba, Cherokee, Clay, Cleveland, Gaston, Graham, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Surry, Swain, Transylvania, Watauga, Wilkes, Yadkin and Yancey counties, as well as the Eastern Band of Cherokee Indians territory.
Appalachian Community Capital will manage the grant program, with the Community Reinvestment Fund handling applications.
Eligible businesses must meet the following criteria:
- For-profit status with active registration with the N.C. Secretary of State
- Location in one of 30 designated western North Carolina counties or the Qualla Boundary
- Operational status as of Sept. 27, 2023
- Annual gross revenue of $2.5 million or less in 2023
- Documented hurricane damage not covered by insurance or other funding
- Current operation or plans to reopen
Grant amounts vary based on business size, with companies earning $1 million or less eligible for up to $25,000, while those with revenue between $1 million and $2.5 million can receive up to $50,000. Funds can be used for various recovery expenses, including physical damage repair and replacement, environmental cleanup, business-related rent or mortgage payments, and employee retention and hiring.
Businesses advancing to the second evaluation round must provide additional documentation such as a 2023 federal tax return or Schedule C, government-issued identification and a voided business check.
Businesses that are not eligible for the grants include nonprofit organizations, businesses outside the eligible region, nonlocally owned franchises, residential property rentals (excluding commercial lodging businesses), membership-based clubs, entities with active bankruptcies or tax liens and any previous recipients of WNCSBI I grants.
Applications are being accepted through the Appalachian Community Capital portal, with a submission deadline of 11:59 p.m. on Feb. 21, 2025.
To apply, visit the Western North Carolina Small Business Initiative II online portal.
