CLT City Grants
Access to Capital
Small Business Recovery Program
The City of Charlotte Access to Capital Small Business Recovery Grant cycle is now closed.
More than 4,400 local businesses applied for grants and 2,500 received awards. As anticipated, these programs were oversubscribed, and the amount of available funding only allowed grants to just over 50% of applicants.
COVID-19 is having an unprecedented impact on our economy as well as the many businesses that help make Charlotte a vibrant city. We wish the federal funding for this program enabled support for all who applied.
Frequently Asked Questions
Why did I not receive a grant?
As anticipated, these programs were oversubscribed, and the amount of available Federal CARES Act funding only allowed grants to just over 50% of applicants.
How much money was granted?
More than $30 million was granted to 2,500 businesses in increments of $10,000 or $25,000 based on employee count.
How were applications selected for review?
Eligible applicants with complete applications were randomly selected for review via a software algorithm – not on a first-come, first-served basis. Initially, businesses that had not received loans from the Paycheck Protection Program or other governmental funding were prioritized. Businesses that had received government funding became eligible for selection in mid-August.
I sent my application in on the first day. How could I not have been chosen?
Applications for the Small Business Recovery Grant program were selected randomly for review by computer software – not on a first-come, first-served basis. This randomized process did not rely on the timing of when the application was received. While applying early increased your chances for selection, it did not guarantee your application would be selected.
Were all businesses considered for random selection?
Only businesses that met the program's eligibility criteria and had a correct application were available for random selection.
Eligibility requirements were:
- Business must be headquartered within the city limits of Charlotte, NC.
- Must have 25 or fewer employees.
- Business must have been affected by the COVID-19 pandemic.
- Business must have been established before January 1, 2020.
- Gross sales for 2019 must be at least $30,000 and less than $2 million.
- Applicants cannot currently be engaged in bankruptcy proceedings.
- Nonprofit organizations, liquor stores, check cashing agencies, gun shops, pawn shops and adult entertainment businesses are ineligible for this program.
- Applicants may not apply for multiple businesses.
Initially, businesses that had not received loans from the Paycheck Protection Program or other governmental funding were prioritized. Businesses that had received government funding became eligible for selection in mid-August.
I provided the additional documentation/information you requested. Why did I not receive a grant?
Our customer service team worked with hundreds of businesses who had problems with their applications. This was in order to ensure their applications were complete, correct and ready to go in the event they were randomly selected to be reviewed for a grant award. Unfortunately, there were businesses with correct applications that were not randomly selected for review. As anticipated, these programs were oversubscribed, and the amount of available Federal CARES Act funding only allowed grants to just over 50% of applicants.
Are there other grant opportunities?
At this time, the City of Charlotte does not have additional grant programs planned. We recommend that you continue to periodically check the City’s website www.CharlotteOpenForBusiness.com as other opportunities may be available in the future.
Foundation For The Carolinas and the City of Charlotte thank our partners in this effort:
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