Monday, August 15, 2022

$10K grants for 130 New Hanover County small businesses available, applications due Friday [Free]

New Hanover County is offering 130 businesses $10,000 grants for Covid-19-related expenses. (Port City Daily/File photo)
New Hanover County is offering 130 businesses $10,000 grants for Covid-19-related expenses. (Port City Daily/File photo)

NEW HANOVER COUNTY — Small businesses in New Hanover County may be eligible to receive a $10,000 grant administered through the county.

County Commissioners approved a $1.3 million Small Business Economic Incentive Grant Program through funding made available through the Coronavirus Aid, Relief and Economic Security (CARES) Act.

A total of 130 businesses will be awarded the $10,000 grant. Applications are due Friday at 5 p.m. A lottery system will randomly select the eligible awardees.

To be eligible to receive the grant, the New Hanover County business must employ fewer than 25 employees and at least one of its owners must live in the county. The business must have been in operation for more than six months and be in good tax standing with local, state, and federal governments.

The funds may be used to hire or rehire employees and toward expenses related to enforcing social distancing requirements or increased sanitation measures. Funds must be spent by the end of the year. Awardees are required to track spending and submit a report back to the county once all funds are expended.

Businesses with fewer than 25 employees that are located in New Hanover County and whose owner lives in New Hanover County are eligible for the grant. Funds can be used to hire or rehire employees, and for expenses related to providing social distancing and enhanced sanitation measures to ensure safe reopening.

In a release, County Manager Chris Coudriet said the funds could be dispersed in the coming weeks. “The county wanted to make these funds easy to access, so the application process is simple and takes only minutes to fill out. And we hope to have this money in the hands of 130 businesses within a matter of weeks,” Coudriet said in the release.

Wilmington Business Development and Live Oak Bank will serve as third-party administrators of the program, according to the county’s release, providing their services free of charge.

Wilmington Business Development (WBD) and Live Oak Bank will serve as third-party administrators of the program, with WBD collecting applications and Live Oak Bank disbursing the funds after awardees are selected. Both entities are providing their services free of charge.

Learn more about the grant program online. Applications are available now through Friday at 5 p.m. Awardees will be notified on June 10.


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