Access to Capital Small Business Recovery Program

Thank you for your interest in the Open for Business Access to Capital program. Through the small business recovery program, the City of Charlotte will distribute $30 million in federal CARES Act funding to small businesses headquartered within the city limits of Charlotte.

With the goal to get money in the hands of struggling businesses as quickly and equitably as possible, applications will be randomly selected each day for review – rather than on a first-come, first-served basis.

The program is a part of the city’s Open for Business Initiative and will distribute grants of either $10,000 or $25,000, depending on the number of employees.

APPLY NOW

Application Information: 

Eligibility criteria:

Nonprofit organizations, liquor stores, check cashing agencies, gun shops, pawnshops, and adult entertainment businesses are ineligible for this application.

  • Businesses must be headquartered within the city limits of Charlotte, NC.
  • They must employ 25 or fewer employees.
  • Businesses must have been established before January 1, 2020.
  • Applicants must have been affected by the COVID-19 pandemic.
  • Gross sales for 2019 must be at least $30,000 and less than $2 million.
  • Applicants can not be currently engaged in bankruptcy proceedings.

It is anticipated that the number of applicants will exceed the available funding. Applicants are not guaranteed to receive a grant.

Each day, applications will be selected randomly by geography from the applicant pool to ensure dollars are distributed to businesses throughout the city and that applications received throughout the process have the opportunity for an award. Any eligible applicant reviewed that meets the program criteria will receive an award.

HOW TO APPLY

Click here to apply.

The application will be available in Spanish and assistance will be available at cltcitygrant@fftc.org or 704.998.6499

APPLICATION DEADLINE

Applications will be accepted from June 22 at 10 a.m. until July 31 at 5 p.m. Applications will NOT be reviewed on a first-come, first-served basis. Instead, they will be reviewed based on random selection.

Businesses only need to apply ONCE for consideration in all current and upcoming phases.


Required Documentation:

Businesses will be required to verify their business status. In preparation to apply, please collect three documents from the following lists:

Group A (at least one document MUST come from this list):

  • IRS letter with business name and EIN or Social Security Number
  • Bank statement with business name, dated within the past 3 months
  • Utility bill with business name, dated within the past 3 months
  • Mortgage statement with business name, dated within the past 3 months
  • Sales and use tax report for Mecklenburg County
  • Certificate of insurance with business name

Group B

  • Lease agreement with business name
  • Schedule C from 2018 tax return (protects personal information if sole proprietor)
  • Profit and loss statement
  • Balance sheet

Additional Documentation

  • Applicants with six or more employees will need to submit IRS Form W-3.
  • Applicants from industries not named in the March 26 Executive Order will be required to download, complete, and submit a notarized affidavit describing how the business was impacted by the pandemic.

Grant Information: 

GRANT AWARDS

Businesses with five or fewer employees are eligible for grant awards of $10,000, and those with six to 25 employees are eligible for grant awards of $25,000.

It is anticipated that the number of applicants may exceed the available funding. Applicants are not guaranteed to receive a grant.

AWARDS PROCESS

Grants will be distributed in two funding phases:

  • Phase 1 awards will be distributed the week of June 30 and July 6
  • Phase 2 awards will be distributed the week of August 3

Businesses only need to apply ONCE for consideration in all current and upcoming phases.

EQUITY AND ACCESS FOR FUNDING

The Access to Capital Small Business Recovery Program aims to provide funding rapidly, accessibly, and equitably for Charlotte’s diverse small business community.

To ensure equity and access to all small businesses headquartered within the city limits of Charlotte, applications will be randomly selected each day for review. Any reviewed, eligible applicant that meets the criteria will receive an award based on their current number of employees.

Priority will be given to businesses that have NOT received financial support from the Paycheck Protection Program or Golden Leaf grants.


Foundation For The Carolinas serves as the city’s grantmaking partner for this effort. For more info., contact: cltcitygrant@fftc.org.

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