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Chowan County - COVID-19 Small Business Grant Program

Grants to North Carolina Businesses in
Eligible Locations for COVID-19 Relief

Agency Type:

Local

Funding Source:

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Chowan County Coronavirus Relief Fund (CRF), North Carolina Pandemic Recovery Office (NCPRO), and Edenton-Chowan Partnership (ECP)

Deadline Date:

09/18/20 5:00 PM

Description:

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Grants of up to $5,000 to North Carolina small businesses in eligible locations to offset the negative financial impact of the Coronavirus (COVID-19) health crisis. Funding is intended to stabilize and strengthen the local economy. Grant funds may be used for business-related expenses including rent, mortgage payments, utility expenses, working capital, or other similar expenses that occur in the ordinary course of business. Eligible businesses must be located within Chowan County.

Small businesses across Chowan County are being negatively affected by the economic effects of COVID-19, and are experiencing a financial crisis as a result. Lost income and unrecoverable expenses are causing immediate hardship for the County’s small businesses. These businesses support thousands of local jobs, collect sales tax revenues, pay property taxes, and otherwise contribute to the economy and tax base.

The County plays an important role in ensuring that the local economy survives this pandemic. The County is committed to doing whatever it can to support the business community, and try to alleviate some of the immediate need caused by the forced closure of their businesses and reduced revenue. The goal with the COVID-19 Small Business Grant Program is to help the County’s small businesses maintain their livelihood, and continue to foster a vibrant and strong community.

GrantWatch ID#:

GrantWatch ID#: 191128

Estimated Size of Grant:

Small businesses within the County can apply for grants of up to $5,000.

Additional Eligibility Criteria:

This program is for business assistance to small, for-profit businesses located within Chowan County.

An eligible small business should:
- Be a for-profit business (a valid business registration and zoning permit is required, if located in the Town limits of Edenton, NC or must be acquired prior to grant award).
- Operate under one of the following legal structures: Sole proprietorship; LLC; LLP; LP; Corporation; or Partnership (Franchises, publicly traded companies or subsidiaries of publicly traded companies, and nonprofit entities do not qualify.).
- Have been in operation and show revenues for at least the past twelve (12) months.
- Have a brick-and-mortar location (home-based or garage-based businesses do not qualify).
- Be a service, restaurant, or retail establishment open to the general public that demonstrates a financial hardship due to business interruption caused by COVID-19.
- Have at least one payrolled employee and no more than 50 employees (excluding contract service workers and those employees paid on 1099 status). If a business is a sole proprietorship and the owner is the sole employee (i.e., self-employed) they may qualify if it can be demonstrated that rent, mortgage, and business operating expenses are paid to third party entities with no ownership or financial ties to the applicant).
- Have annual gross revenues of less than $2 million.
- Demonstrate a 20% loss of revenue due to business interruption related to COVID-19. For more information, about Determination of Revenue Loss, see https://www.chowancounty-nc.gov/vertical/sites/%7B10E82D50-AAE0-43D7-A98A-42E82683885E%7D/uploads/FINAL_ChowanCountySBGProgramGuidelinesRound_2.pdf#page=3.
- Be current on property taxes owed to the City and the County, prior to grant disbursement.
- Provide a signed Statement of Declaration and Verification indicating the intended use of grant funds, that all information provided as part of the application is true and verifiable, and a commitment to spend within 30 days of receipt.

In the instance of multiple businesses located in one establishment with one address, such as a business co-operative, the business entity that holds the lease or mortgage for the space may apply.

First round grant recipients are eligible for the difference in their first grant and the $5,000 maximum.

Awards are not intended as unemployment assistance.

Pre-Application Information:

Deadline: Friday, September 18, 2020 at 5:00 pm.

The ECP Grant team will be available to work with applicants in cooperation with partner organizations whose missions are business assistance or economic development. Partner organizations may include: Destination Downtown Edenton Inc.; the Small Business & Technology Development Center at ECSU; COA’s Small Business Center; Eastern Women’s Entrepreneurship Center; the Edenton-Chowan Chamber of Commerce; and other entities or organizations to assist business owners in putting together their applications.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Completed application packets may be emailed to lizalayton@edenton.net, or mailed or hand-delivered to the Edenton Chowan Partnership office at 101 West Water Street, Edenton, NC 27932.

For more information contact:

Liza Layton, Edenton Chowan Partnership
Office: 252-482-2007
Email: lizalayton@edenton.net

URL for Full Text (RFP):

Geographic Focus:

USA: North Carolina: Chowan County

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