The online application closed at 11:59PM on Thursday, May 21. As of Wednesday, June 10, 2020, 154 applicants were funded. Those businesses are in the process of being notified and funded, at this time. Please note this is not a first-come, first-serve program. Those who apply earlier during this period will not be given special preference. All applications received through the close date will have an equal chance to be selected.
Donations from the private sector and individuals are still being accepted to increase the total amount of funding available for Raleigh small businesses impacted by COVID-19, and that meet the program requirements.
If your business was notified that it was a successful applicant and you have not received funding by Monday, June 15, please contact Angela Milton at CSBDF, at (919) 355-4915 or by email at firstname.lastname@example.org.
About the Program
The Raleigh Small Business COVID-19 Relief Funds
The City of Raleigh government has partnered with Carolina Small Business Development Fund to provide grant funds for qualifying small businesses that have been adversely impacted by the COVID-19 pandemic.
The Raleigh Small Business COVID-19 Relief Funds may be used to cover the day-to-day operating expenses of businesses located in Raleigh. Up to $10,000 is available to each applicant until funding sources are depleted. Small businesses may qualify for this program if they meet the qualifications.
- Business is located in the City of Raleigh
- Business with 49 employees or less
- Business is locally and independently owned
- Business must be a storefront. (This also includes food trucks who are able to show rent payments paid to a commercial space, hairstylists/barbers who rent booths from salon owners, and actual salon owners.)
- Business has experienced at least 25% decline in revenues due to COVID-19 between January 1, 2020 and April 30, 2020
- Business annual revenue of less than $2.5MM as of latest completed Business Tax Returns
- The business has not filed for bankruptcy
- Business does not have any open tax liens
- Business does not have current open judgments
- Businesses who have been operating for one year or less and have filed a 2019 tax return AND also meet all other eligibility criteria are eligible to apply. Businesses who have been operating for one year or less AND have not filed a 2019 tax return are ineligible to apply.
- Copy of lease or mortgage agreement for your small business
- Receipt/proof of paid City taxes or screenshot
- Business must provide a valid/unexpired driver’s license or government-issued photo ID
- Certificate of “good standing” or screenshot from the Secretary of State NC
- Most recently completed & filed business tax returns (2018 tax returns are mandatory, 2019 are optional)
- Payroll documentation or quarterly unemployment insurance filing
- Your full social security number (SSN) and EIN/ITIN, which will be used to pull your credit report and verify your business
- Your business’s NAICS code
- Monthly sales revenue for each month January-April 2020 (you may provide a point-of-sale report, Excel spreadsheet/ledger or another report from business accounting software)
- Your banking information including your routing and checking account number
Please check out a “Proof of Information” tutorial found here.