State Opens RETOOLNC Grant Program for Second Round of Funding To Support HUBs Impacted by COVID-19 | Eastern NC Now

Press Release:

    Raleigh, NC     The North Carolina Department of Administration's Office for Historically Underutilized Businesses (HUB) will today open the application portal for the RETOOLNC Grant Program for a second round of funding for certified historically underutilized businesses (HUB) and disadvantaged business enterprise (DBE) firms impacted by COVID-19. Eligible North Carolina HUBs and DBEs that missed the initial round of funding through the RETOOLNC Grant Program will have the opportunity to apply for aid beginning today through December 16th.

    "Since its initial launch in October, the RETOOLNC Program has been instrumental in granting more than $10 million in funding to assist in the economic recovery of state certified minority and women-owned businesses," said NC Department of Administration Secretary Machelle Sanders. "The second round of funding will continue to support our efforts to provide aid to communities disproportionately impacted by COVID-19."

    The North Carolina Small Business Impact Grant Program, RETOOLNC, is an initiative created under Governor Roy Cooper's Executive Order No. 143, which addresses measures and supports efforts to aid communities of color disproportionately impacted by the pandemic.

    In addition to funding, the HUB Office — in partnership with the Carolina Small Business Development Fund (CSBDF) and the North Carolina Institute for Minority Economic Development (the Institute) — will offer guidance on business development to HUBs and DBEs statewide through the RETOOLNC program.To be eligible, North Carolina certified HUBs and DBEs must meet the following criteria.

    Eligible Businesses must:

• Have been operating for one year
• Be certified with NCHUB or NCDOT DBE
• Be an independent business located within North Carolina
• Be a business with up to 50 employees or less (including but not limited to, sole proprietorships, home based businesses, and independent contractors)
• Not have annual revenues exceeding $1,500,000
• Not be delinquent on North Carolina State income taxes
• Not have any active bankruptcies or tax liens

    To learn more about the RETOOLNC initiative, visit the NC HUB Office website for details.

• NCDOA Communications
• Department of Administration
• 116 W. Jones Street
• Raleigh, North Carolina 27603