Helene Flood Info: Grant Announcement, Loan Funding Updates, and Regional Resources
Message from Matt Raker, Executive Director of Mountain BizWorks
One month after Helene, we’ve seen both incredible need and resilience community-wide. From the onset, our Mountain BizWorks team has been pushing forward with the goal of robust small business recovery. The three recovery pillars we’re working to support are rapid recovery loans, business grants, and resource navigation services. We’re pleased share some updates on each of those pillars below.
Together we are WNC Strong.
Now Available: Grants from Western North Carolina Small Business Initiative
We want to make sure you’re aware of a major Helene recovery grants program rolling out from our partners at Appalachian Community Capital.
We know that this opportunity won’t meet all the needs in our region, but want those it will cover to apply early and have the best chance possible to receive funds. Read on to learn if you’re eligible for this grant fund, and know that more grant funding is coming from additional sources soon.
Mountain BizWorks is hosting two informational webinars and an in-person Spanish session for those interested in applying. Come, learn more, and ask questions about your application. Click your preferred date to register:
Monday, November 4 at 12 p.m. (English – virtual)
Wednesday, November 6 at 5 p.m. (Spanish – in person at WWBC)
Thursday, November 7 at 3 p.m. (English – virtual)
Grant Application Now Open for Western North Carolina Small Business Initiative
Grant applications are now open for the Western North Carolina Small Business Initiative (WNCSBI), led by Appalachian Community Capital (ACC) with a $10 million lead grant from Dogwood Health Trust (DHT). Mountain BizWorks is a partner in this program.
Grant Description:
This grant offers immediate relief grants up to $25,000 to very small businesses in Dogwood’s 18 counties that have been severely impacted by Hurricane Helene and that have less than $1 million in annual revenue.
Key Dates and Deadlines:
- Applications open today, Wednesday October 30 on the ACC website
- Apply by November 27 to be considered in Round 1 — we encourage you to apply as soon as you can. Applicants that advance to the second round of evaluation will be contacted to provide additional information about their business.
Eligible Counties (DHT 18 county service area):
- For-Profit businesses physically located in the Qualla Boundary and the following counties in Western North Carolina: Avery, Buncombe, Burke, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Swain, Transylvania, and Yancey.
More information available on ACC’s website. Click to read full eligibility, use of funds, and start your application today.
LEARN MORE & APPLY
VISIT THE BIZWORKS HELENE RESOURCE HUB
Find what you need to navigate your small business through this unprecedented time. Mountain BizWorks is here for you to help you rebuild and keep your dreams alive.
Dogwood Health Trust Announces Grant Initiative for Helene-Impacted Small Businesses
Dogwood Health Trust announced today that it will invest a $10 million lead grant to create the Western North Carolina Small Business Initiative (WNCSBI), which will be led by Appalachian Community Capital (ACC). The initiative will offer immediate relief grants up to $25,000 to very small businesses in Dogwood’s 18 counties that experienced physical damage from the storm and have less than $1 million in annual revenue.
ACC will share criteria and open the application on its website on Wednesday, Oct. 30, 2024, with grant awards being made within two weeks to qualifying small businesses. Mountain BizWorks is a partner in this program, and we’ll share full program information and details on how to apply as soon as they are available.
VIEW THE DHT PRESS RELEASE
More grant funding will be made available soon. Join the interest list to be notified when new grant funding opportunities are available.
JOIN THE INTEREST LIST
North Carolina General Assembly Approves $50M for WNC Strong Recovery Loans
The North Carolina General Assembly approved $50M to expand the capacity of the WNC Strong: Helene Business Recovery Fund last week, adding to the $7.5 million in initial funding from the Golden LEAF Foundation. Since launching our WNC Strong: Helene Business Recovery Fund, we’ve received over 750 loan requests, and have approved 222 small business loans totaling $11.8 million. This additional support is critical to meet the demand from the large number of applications we’ve received. It will also help accelerate more immediate relief, which is especially important right now as we wait for new appropriations for the SBA.
Businesses impacted by Tropical Storm Helene can apply for rapid recovery loans of up to $100,000 to meet immediate needs while waiting for federal loans, insurance payouts, or other relief.
APPLY FOR FUNDING
Support Small Business Grants Today
Click here to watch our WNC Strong video!
Donate today to the WNC Strong: Rebuilding Together Grant Fund, which will provide essential grant dollars to small business owners most impacted by Hurricane Helene. A contribution of any amount will make a difference for the small businesses that make WNC a great place to visit and call home.
DONATE NOW
To learn more about how can you support long-term recovery efforts, email bekah@mountainbizworks.org.
