Western North Carolina Small Business Initiative

Welcome to the Western North Carolina Small Business Initiative

Was your small business harmed by Hurricane Helene? The Western North Carolina Small Business Initiative is here to help.

The initiative is partnering with local Community Development Financial Institutions (CDFIs) to provide relief grants up to $25,000 to very small businesses across the region that sustained physical damage from Hurricane Helene.

Secure a grant for your business

Application window open from Oct. 30 – Nov. 27, 2024

Grants up to $25,000 are available to eligible small businesses located in Western North Carolina.

Small businesses can use the grants to cover expenses related to recovery and reopening in the wake of Hurricane Helene. Eligible uses include repair and replacement of physical damage, environmental cleanup, payment of business-related rents or mortgages, employee retention and hiring, and more.

Applications will be accepted until 11:59 p.m. on November 27, 2024. Applications submitted after this deadline will not be considered. Applicants that advance to the second round of evaluation will be contacted to provide additional information about their business. Subject to availability of funding, an additional round of funding may be opened.

Qualifications

To be eligible for a Western North Carolina Small Business Initiative grant, you must operate a small business that:

  • Is a for-profit business actively registered with the North Carolina Secretary of State (or a sole proprietorship with an active DBA filing)
  • Is physically located in one of the following Western North Carolina counties: Avery, Buncombe, Burke, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania, or Yancey; or is located in the Qualla Boundary
  • Has been in existence for at least one year
  • Had less than $1,000,000 in 2023 annual gross revenue
  • Has sustained physical or economic damage (not covered by insurance or other funding sources) from Hurricane Helene
  • Is currently operating or plans to reopen

Applicants selected to advance to the second round of evaluation will be required to submit the following documentation:

  • Federal tax return (2023) or personal returns that include a Schedule C for the business
  • Government-issued ID (Colored Copy)
  • Voided business check
Business that is NOT eligible:
  • Is a non-profit organization
  • Is not physically located within the eligible WNC region
  • Is a franchise which is not locally owned & operated
  • Is a residential property rental business including AirBnbs, VRBOs, or other Short Term Rentals (STRs) based at residential addresses (this does not apply to traditional Bed & Breakfasts and other lodging businesses at commercial addresses)
  • Is a business with any active bankruptcies or tax liens

How it works

Step 1: Complete the initial grant application by 11:59 p.m. on November 27, 2024.

Step 2: If your application is selected for the second round of evaluation, you will be contacted to provide additional documentation. This information will be reviewed to determine your eligibility and potential award amount.

Step 3: Receive grant funds if your application is approved and program grant funds remain.

Apply now

FAQs

What is the Western North Carolina Small Business Initiative?
The Western North Carolina Small Business Initiative is a new program offering grants to eligible North Carolina businesses impacted by Hurricane Helene.

Is my business eligible? What are the qualifications for the Western North Carolina Small Business Initiative?
To be eligible for a Western North Carolina Small Business Initiative grant, you must operate a small business that:

  • Is a for-profit business actively registered with the North Carolina Secretary of State
  • Is physically located in one of the following Western North Carolina counties: Avery, Buncombe, Burke, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania, Yancey; or is located in the Qualla Boundary
  • Has been in existence for at least one year (formed on or before 9/27/23)
  • Has less than $1,000,000 in annual gross revenue
  • Has sustained physical or economic damage (not covered by insurance or other funding sources) from Hurricane Helene
  • Is currently operating or plans to reopen

Business that is NOT eligible:

  • Is a non-profit organization
  • Is not physically located within the eligible WNC region
  • Is a franchise which is not locally owned & operated
  • Is a residential property rental business including AirBnbs, VRBOs, or other Short Term Rentals (STRs) based at residential addresses (this does not apply to traditional Bed & Breakfasts and other lodging businesses at commercial addresses)
  • Is a business with any active bankruptcies or tax liens

How long will applications be accepted?
Applications will be accepted until 11:59 p.m. on November 27, 2024. Subject to availability of funding, an additional round of funding may be opened.

How will applications be selected?
Applications will be selected based on eligibility, equity, and severity of impact.

Where will grant funds be available?
Eligible small businesses must operate in one or more of the following counties:

  • Avery
  • Buncombe
  • Burke
  • Cherokee
  • Clay
  • Graham
  • Haywood
  • Henderson
  • Jackson
  • Macon
  • Madison
  • McDowell
  • Mitchell
  • Polk
  • Qualla Boundary
  • Rutherford
  • Swain
  • Transylvania
  • Yancy

What is the grant size?
Up to $25,000

How long does it take to get grant funds?
Applicants that advance to the second round of evaluation will be contacted to provide additional information about their business. Once all required documentation has been received, the qualification review and funding process is expected to take about 2 weeks. The exact timeline will vary based on each individual situation. 

What documents are required as part of the grant application process?

  • Federal Tax Return (2023) or Personal returns that include a schedule C for the business
  • Government Issued ID (Colored Copy)
  • Voided Business Check

Will automated emails be generated when the initial successful application is submitted?

Should I include seasonal and/or regular part-time employees in the ‘FTE’ count?

  • Yes, include all 1099, H2A and other employees, calculated on an annual full-time equivalent basis. For example, a seasonal employee working full time for six months would be considered 0.5 FTE

I filed for a 2023 tax extension, so have not yet filed my tax return though otherwise meet the criteria of the WNCSBI

  • If you filed for a 2023 extension, you will be asked to provide your 2023 extension document and a 2022 tax return. Additionally, you will be required to certify that you meet the other grant eligibility criteria, including registration with the NC Secretary of State (either as an LLC or through a DBA if you are a sole proprietor)

Fraud Alert!

It has come to our attention that fraudulent grant sites and phishing scams are emerging, and which applicants are unfortunately encountering. Dogwood Health Trust has provided anchor funding to Appalachian Community Capital (ACC) in partnership with Community Reinvestment Fund (CRF) for launch of the Western North Carolina Small Business Initiative, but is not running its own program or application portal. The ONLY official small business recovery grant portal of the ACC WNC Small Business Initiative is https://appalachiancommunitycapitalcdfi.org/wnscb-grant/. Any emails purporting to offer grant opportunities, especially those that are coming to your inbox unsolicited, should be treated with a high degree of care. Please report suspected fraudulent activity to https://ncdoj.gov/file-a-complaint/

Contacts

For programmatic questions, please contact jfripp@acc1.org

For technical issues, please contact wncgrantadmin@crfusa.com

Our Partners

The Western North Carolina Small Business Initiative is a partnership between Appalachian Community Capital and Dogwood Health Trust. This initiative is made possible by a $10 million lead grant from Dogwood Health Trust.

Appalachian Community Capital is a CDFI lending intermediary created to raise capital for its more than 40 member CDFIs and other mission-based lenders. The members, in turn, use the capital from ACC to fund small businesses in underserved areas in Appalachia, including businesses owned by women and persons of color. The members–many of whom have been in operation for more than 20 years—and their affiliates manage over $2 billion in assets supporting economic development in Appalachia.

Dogwood Health Trust is a private foundation based in Asheville, North Carolina, dedicated to improving the health and well-being of communities in 18 counties and the Qualla Boundary in Western North Carolina. The foundation supports innovative and equitable approaches in the areas of housing, education, economic opportunity, health, and wellness to create a region where every generation can live, learn, earn, and thrive with dignity and opportunity for all.

ACC is coordinating with local, WNC-serving CDFIs; chambers of commerce; councils of government; and other partners to market the grant opportunity and assist local small businesses with submitting complete and accurate applications.