On June 1, the North Carolina Department of Administration’s Office for Historically Underutilized Businesses (HUB) will once again open applications for grant funds for certified HUBs and disadvantaged business enterprise (DBE) firms impacted by COVID-19.
“We know that minority and women-owned businesses were disproportionately impacted by the pandemic,” said Governor Roy Cooper. “The RETOOLNC program provides direct support to historically underutilized businesses to get the support they still may need to fully recover.”
The RETOOLNC program awards up to $25,000 to eligible certified small, underutilized businesses to help with pandemic recovery efforts.
“As we continue to emerge from the impacts of the COVID-19 pandemic, it is essential we help our small businesses recover and prosper,” said NC Department of Administration Secretary Pamela B. Cashwell. “This funding will help many of those small businesses who continue to struggle.”
All HUBs and DBEs are encouraged to apply for funding and attend an informational webinar on May 26 from 6 – 7 p.m. The webinar will provide information on grant eligibility requirements including required documentation.
The North Carolina Small Business Impact Grant Program, RETOOLNC, is an initiative created under Governor Roy Cooper’s Executive Order No. 143, to assist small businesses disproportionately impacted by the pandemic. The grant program is administered in partnership with the Carolina Small Business Development Fund and the National Institute for Minority Economic Development (the Institute).
To qualify for RETOOLNC funds, North Carolina businesses must:
Have been in operation since February 2019
Be certified with NCHUB or NCDOT DBE
Be an independent business located within North Carolina
Be a business with 50 employees or fewer (includes sole proprietorships, home based businesses, and independent contractors)
Not have annual revenues exceeding $1,500,000
Not be delinquent on North Carolina State income taxes
Not have any active bankruptcies or tax liens
Be a for-profit business
Be an independent franchisor and locally owned, if it is a franchise
Provide a detailed statement of how the business has been impacted due to COVID-19
Be engaged in legal activity
To learn more about the RETOOLNC initiative and how to register for the information session, visit the NC HUB Office website for details.
About NC DOA and the Office for Historically Underutilized Businesses
The North Carolina Department of Administration acts as the business manager for North Carolina state government. Under the leadership of Secretary Pamela B. Cashwell, the department oversees government operations and advocacy programs. The department's advocacy programs help to promote and assist diverse segments of the state's population that have been traditionally underserved.
Since 1999, the Office for Historically Underutilized Businesses (HUB) has been instrumental in advocating and promoting the use of minority and women-owned businesses in the state procurement and contracting process.