The North Carolina Department of Administration (NCDOA) is offering $12 million in COVID-19 recovery grants to historically underutilized businesses (HUBs) and disadvantaged business enterprises (DBEs). The grant program, RETOOLNC, was created by Governor Roy Cooper by means of Executive Order 143.
The RETOOLNC program will be subject to guidance from the Office for Historically Underutilized Businesses, the Carolina Small Business Development Fund, and the North Carolina Institute for Minority Economic Development. Any single HUB or DBE will be eligible for up to $25,000 in grant funding through RETOOLNC as long as they meet certain requirements relating to their certification status, business size, and financial situation.
"We want businesses to have access to resources so they can navigate the pandemic and continue to serve their communities, and we know that some businesses have historically had a harder time getting the help they need [...] this program is a good step forward," Governor Cooper said in a statement.
Read Executive Order 143 at https://files.nc.gov/governor/documents/files/EO143-Addressing-the-Disproportionate-Impact-of-COVID-19-on-Communities-of-Color.pdf.
Find the North Carolina HUB Program website with more information about RETOOLNC at https://ncadmin.nc.gov/businesses/hub.
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