- December 17, 2021
- Posted by: Stratford Team
- Category: Business
Raleigh, N.C. — North Carolina launched a $500 million program Thursday to help restaurants and other small businesses recover from pandemic-related losses.
The North Carolina Business Recovery Grant Program allows business owners who have seen at least a 20 percent decline in revenue to apply for grants of up to $500,000. Because the hospitality industry was hit so hard by closures and other restrictions, $300 million of the fund is earmarked for restaurants, hotels, bars and other entertainment businesses.
“North Carolina’s restaurants, hotels and bars saw over $5 billion in losses due to no fault of their own. These grants will be transformative to businesses across the state who have been devastated by the COVID-19 pandemic,” Lynn Minges, president and chief executive of the North Carolina Restaurant & Lodging Association, said in a statement.
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