CSBDF offices are currently closed to the public to comply with NC's Phase 3 reopening guidelines. All staff are available by email and phone.

RetoolNC

More than ever before, the small business ecosystem needs help to continue surviving through the COVID-19 pandemic. In partnership with North Carolina's state government and the Institute, we're proud to provide grant aid to historically underutilized small businesses throughout North Carolina.

About the Program

North Carolina’s Department of Administration Office for Historically Underutilized Businesses (HUB) has partnered with Carolina Small Business Development Fund and the Institute of Economic Development to administer the RETOOLNC Grant Program Fund. The fund provides cash aid to for-profit small businesses adversely affected by the COVID-19 pandemic.

Eligibility Criterion

To qualify, the applicant business entity must meet all of the below criterion:

Grant Amount

If awarded, the base amount is $10,000. The business may be awarded higher amounts if the average amount of its operating expenses over 4 months, as based on the 2019 business tax returns, exceeds $10,000.

Allowed Use of Funds

Funds may be used for most legitimate business expenses. This includes, but is not limited to, using funds for: working capital, lease payments, existing real estate debt payments, equipment financing payments, and covering payroll shortage.

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