Charlotte businesses are eligible for a new grant program to help those in need of financial relief. | Stock Photo
Charlotte businesses are eligible for a new grant program to help those in need of financial relief. | Stock Photo
Charlotte is distributing $30 million to small businesses through the Open for Business Access to Capital program to help struggling companies during the COVID-19 pandemic, from Charlotte Business Resources said on June 11.
The program's funds come from the CARES Act and are distributed as quickly as possible to help small businesses, according to the website about the program. Businesses applying for the funding are randomly reviewed instead of by application submission date.
Businesses can receive grants of $10,000 or $25,000, the website stated. The amount of money a business receives depends on the number of employees working at the organization. To be eligible for a grant, a business must be one of the following: nonprofit, liquor store, pawnshop, gun shop, check cashing agency or and adult entertainment business.
Other requirements are: the business is located in the city of Charlotte; has 25 or fewer employees; was established before Jan. 1, 2020; the business must be directly affected by the pandemic; gross sales are between $30,000 and $2 million for 2019; and the business is not in the bankruptcy process, the website reported.
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