A new grant program will soon be available that could help certain businesses or non-profit organizations impacted by the COVID-19 coronavirus pandemic.
The new Job Retention Grant (JRG) Program is part of House Bill 1023, which Governor Roy Cooper signed into law July 1. The JRG program utilizes the Coronavirus Relief Fund to provide economic relief to North Carolina businesses and nonprofits negatively impacted by the public health emergency.
The maximum grant amount may be up to two months of the eligible entity's average monthly payroll costs from 2019 plus an additional 25% of that amount. The grant amount may not exceed $250,000.
The total of all funds granted under the Job Retention Grant Program may not exceed $15 million. If the total amount of grants requested by qualified applicants exceeds the maximum amount of funds available, each grant award will be reduced on a proportionate basis.