Top Small Business Grants in NC
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Grants for Small Businesses in NC
Job Development Investment Grant (JDIG)
Program description: The JDIG program provides cash grants to companies that create new jobs filled by full-time employees who work on a project in North Carolina. Incentive: Receive annual grant payments for up to 12 years based on performance factors. Grant awards will generally represent a fixed percentage of withholdings from the wages of employees in eligible positions. General requirements: Here are some of the general requirements for this grant: Be a business that creates a minimum number of eligible positions in North Carolina ranging from 10 to 50 new employees depending on your development tier area Develop an eligible project (projects that consist solely of retail facilities are not eligible) Provide health insurance for all of the applicable full-time employees of the project Have no citations under the Occupational Safety and Health Act that have become a final order within the past three years for willful serious violations or failing to abate serious violations How to apply: Contact the Economic Development Partnership of North Carolina Inc. if you are interested in applying for the Job Development Investment Grant.
One North Carolina Small Business Program Fund
Program description: This One North Carolina Fund provides grant funding to businesses that stimulate economic activity in the Tar Heel State, including small business owners who develop and commercialize new technologies. Incentive: Receive up to $200K in state matching funds for receiving a federal Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) award. Small businesses can also receive up to $12K in reimbursement for costs incurred in preparing a federal SBIR/STTR proposal. General requirements: Here are some of the requirements if you’re seeking state funds toward a federal SBIR/STTR project: Be an N.C.-based small business Submit a qualified SBIR or STTR Phase I proposal to a participating federal agency Meet all federal SBIR/STTR program eligibility requirements At least 51% of the SBIR/STTR proposal development and operations must take place in North Carolina How to apply: You can apply for One North Carolina Small Business Program funds online when the application opens.
On-The-Job Training (OJT) Program
Program description: The OJT program can provide partial reimbursement to employers who hire and train new employees who work in skilled positions. Incentive: Participating employers can receive reimbursements ranging from 50% to 75% of a trainee’s wages. General requirements: Here are some of the general requirements for this grant: Be registered or licensed to do business in North Carolina Have a bona fide job vacancy or workforce expansion plan Be in compliance with all applicable licensing, taxation, and insurance requirements and not in violation of any local, state, or federal labor laws Have no history of frequent layoffs and no current labor disputes Agree to retain your OJT trainees who complete individualized training plans How to apply: Anyone interested in the OJT program can contact the NCWorks Career Center, state Division of Workforce Solutions (DWS), or a local N.C. Workforce Development Board (WDB).
Incumbent Worker Training (IWT) Grant Program
Program description: IWT is a competitive training grant program that provides eligible employers with monetary awards for upgrading the skills and knowledge of their existing workers. Incentive: Businesses can receive up to $25K per program year ($100K lifetime maximum) for training existing staff to learn new skills. General requirements: Here are some of the general requirements for this grant: Be an N.C. business in operation for at least one year Have an employer-employee relationship with your trainees Have at least five employees Provide training to eligible incumbent workers with at least six months of employment history at your company Be current on all federal and state obligations Be financially viable Employers in the health care, information technology, construction, and advanced manufacturing industries can receive special consideration for a grant award How to apply: Contact your local WDB to apply for the IWT grant.
North Carolina Passport to Export Grant Program
Program description: N.C. Passport to Export is North Carolina’s State Trade Expansion Program (STEP) that can help you export your goods and services from the Tar Heel State to foreign markets. Incentive: Receive up to $16K in reimbursements for eligible business expenses, including international marketing and booth costs of exhibiting at a qualifying trade show. General requirements: Here are some of the general requirements for this grant: Be registered to do business in North Carolina Have 500 or fewer employees Have at least one year of business experience Be an export-ready U.S. company Have a product or service consisting of at least 51% U.S. content Be in good standing with the federal government (have not been debarred) Ability to bear the costs associated with trade Operating profitably as a U.S. business How to apply: Contact the Economic Development Partnership of North Carolina Inc. if you wish to apply for N.C. Passport to Export STEP grant funding.
Who Provides Small Business Grants in North Carolina?
Arizona small business grants California small business grants Colorado small business grants Florida small business grants Georgia small business grants Illinois small business grants Indiana small business grants Maryland small business grants Michigan small business grants New York small business grants NJ small business grants Ohio small business grants Pennsylvania small business grants Texas small business grants Wisconsin small business grants
Do You Have to Pay Back a Small Business Grant?
Who Is Eligible for Small Business Grants in North Carolina?
What Industries Does NC Support With Grants?
Advanced manufacturing Aerospace Biotechnology Construction Health care Hospitality Information technology
NC Resources for SMB Owners Looking for Funding
NC Small Business and Technology Development Center (SBTDC)
Educational events Export-related guidance General business counseling Market research Online training Technology development and commercialization assistance
SBA District Office in North Carolina
Alternative Funding Sources for Small Businesses in NC
North Carolina State Small Business Credit Initiative (SSBCI)
NC Loan Participation Program — $160 million. This program uses SSBCI funds alongside private funds to support loans to eligible borrowers, including socially or economically disadvantaged individuals who own small businesses in North Carolina. NC Venture Capital Program — $31.9 million. This program can help eligible startups access venture capital. NC Capital Access Program — $10 million. This program uses SSBCI matching funds to support portfolio insurance on small business loans.
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