If your business or non-profit organization experienced interruption due to the COVID-19 coronavirus pandemic, the new Job Retention Grant (JRG) Program may be able to offer assistance.
North Carolina businesses and certain nonprofits that missed out on other COVID-19 relief funds can now apply for a new state program offering up to $250,000 in grants to help companies maintain their workforce.
The short window for applying closes September 1, so applicants should move quickly.
State lawmakers provided $15 million for the grants being awarded by NC Commerce. The funding is part of a much larger $500 million coronavirus relief measure signed by the governor on July 1.
The new grants are an entitlement program. So if qualified applicants request amounts that total more than the $15 million available, each grant award will be reduced proportionally.
Grant recipients must not have participated in the federal Paycheck Protection Program, the federal Main Street Lending Program, or the North Carolina Rapid Recovery Loan Program.
In addition, an eligible business or nonprofit must meet the following conditions:
It employs at least 90% of the number of full-time workers during the COVID-19 period (defined as March 1 to May 31) in North Carolina as it employed at the end of February.
It demonstrates that it experienced an economic loss due to the pandemic. For a business, that means its sales for the COVID-19 period are at least 10% below sales for the same period last year. For a nonprofit, that requires its gross receipts for the COVID-19 period are at least 10% below its gross receipts for the same period last year.
The maximum grant amount is up to two months of a company's average monthly payroll costs from 2019, plus 25% of that amount. But the grant is capped at $250,000.
Businesses seeking support in identifying sources of COVID relief funding in addition to this new state program can reach out to their regional contactwith the Economic Development Partnership of North Carolina.
For more updates from Johnston County Center, check out our News & Updates Page
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