WNC small businesses can apply for share of $30 million to rebuild

Gov. Josh Stein on Friday announced a $30 million public-private partnership to fund grants for small businesses in western North Carolina rebuilding after Hurricane Helene. Small businesses with an annual revenue of up to and including $2.5 million are eligible to apply for grants up to $50,000 from the Western North Carolina Small Business Initiative grant program. 

The state will also provide $3 million in funding to Baptists on Mission and Habitat for Humanity, two non-profit organizations heavily involved in helping individual homeowners rebuild after Helene's devastation.

According to estimates, the storm, which dumped up to a foot of rain across 50 counties in the western part of the state, caused almost $80 billion in damage. Two hundred people -- 104 of them in North Carolina -- died in flooding and mudslides triggered by the storm. 

Gov. Roy Cooper first proposed relief for small businesses immediately after the September storm when it became apparent that they would suffer a loss of tourism during their typical peak season. He estimated those business losses would be more than $13 billion.

“Small businesses are the heart of western North Carolina and need our support to get through these slow winter months,” Stein said. “The Western North Carolina Small Business grant program will help small businesses with their urgent needs and support the region’s economic recovery."

Dr. Susan Mims, president and CEO of Dogwood Health Trust which is the private partner in the public-private partnership, said, “We are proud to expand our support alongside the state of North Carolina and encourage more philanthropic organizations to support this critical effort.” 

Funds will be managed by Appalachian Community Capital, with the partnership of the Community Reinvestment Fund on the application process. Eligible businesses can apply through the portal here.

To be eligible, a business must:

• have an annual revenue of $2.5 million or less 
• be located in the 28 counties and the Eastern Band of Cherokee Indians areas covered by President Biden’s federal disaster declaration or in Dogwood Health Trust’s 18-county footprint including: Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Catawba, Cherokee, Clay, Cleveland, Gaston, Graham, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Surry, Swain, Transylvania, Watauga, Wilkes, Yadkin, Yancey.