Western North Carolina Small Business Initiative II (WNCSBI II)
The initiative is partnering with local Community Development Financial Institutions (CDFIs) to provide relief grants up to $50,000 (up to $25,000 for businesses with revenue $1,000,000 or less) to small businesses across the region that sustained physical damage from Hurricane Helene. Small businesses can use the grants to cover expenses related to recovery and reopening in the wake of Hurricane Helene. Eligible uses include repair and replacement of physical damage, environmental cleanup, payment of business-related rents or mortgages, employee retention and hiring, and more.
To be eligible for a Western North Carolina Small Business Initiative II grant, you must operate a small business that:
- Is a for-profit business actively registered with the North Carolina Secretary of State (or a sole proprietorship with an active DBA filing)
- Is physically located in one of the following Western North Carolina counties: Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Catawba, Cherokee, Clay, Cleveland, Gaston, Graham, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Surry, Swain, Transylvania, Watauga, Wilkes, Yadkin, Yancey; or is located in the Qualla Boundary
- Business was formed and in operation on or before 9/27/23
- Had $2,500,000 or less in 2023 annual gross revenue
- Has sustained physical or economic damage (not covered by insurance or other funding sources) from Hurricane Helene
- Is currently operating or plans to reopen
If you or your business received a grant from WNCSBI I, you are not eligible for WNCSBI II.
Applications will be accepted until 11:59 p.m. on February 21, 2025. Applications submitted after this deadline will not be considered. Applicants that advance to the second round of evaluation will be contacted to provide additional information about their business. Subject to availability of funding, an additional round of funding may be opened.
For more information and to apply, visit https://appalachiancommunitycapitalcdfi.org/wnscb-grant/.
Truist Cares for North Carolina
Truist Financial Corporation announced a new initiative, Truist Cares for Western North Carolina, a three-year, $725 million commitment to support critical small business, housing and infrastructure efforts in Western North Carolina as communities impacted by Hurricane Helene recover and rebuild. The commitment will include new, dedicated capital for local small businesses, residents and municipalities, impact capital from Truist Community Capital, philanthropic giving from Truist Foundation and additional on-the-ground humanitarian support from Truist teammates to help establish long-term resiliency in this devastated region.
Truist Cares for Western North Carolina will include the following dedicated support over three years:
- $650 million in new, dedicated capital to support rebuilding and resiliency, including:
- $340 million in dedicated lending for qualified small businesses, residential mortgages, and commercial real estate
- $310 million in low-cost, tax-exempt municipal lending for infrastructure projects
- $50 million in loans and/or investments in Community Development Financial Institutions (CDFIs) by Truist Community Capital
- $25 million in philanthropic grants to local and national nonprofit organizations from Truist Foundation through trusted disaster response partners
- Rallying Truist teammates to serve the community with a challenge to volunteer 10,000 hours
Click here to learn more.
Immediate Needs Grants for Affected Farmers
WNC Communities recognizes that farmers in the region have immediate disaster relief need to stabilize their farm businesses and to support a resilient regional food system. The goal of this program is to provide resources quickly, while making reasonable efforts not to duplicate other funding sources. These funds are meant to assist legitimate farm businesses with urgent needs that will directly impact the ability to get the farm business back in operation as soon as possible. The Immediate Disaster Needs grant is offered by WNC Communities as part of our WNCC Regional Support, LLC.
Additional Help for Agriculture Businesses
The U.S. Department of Agriculture (USDA) offers a suite of disaster assistance, farm loan and conservation programs to help farmers, ranchers, and forest landowners to recover. In September 2024, USDA made changes to its emergency loan program so that producers can access emergency loans for any amount of damage (previously farmers had to show a 30% production loss), and to increase access to flexible repayment terms, including interest-only payments, if necessary to recover from the disaster. USDA has also instructed staff to exercise maximum flexibility in many of its programs to ensure farmers get timely help. Several program deadlines have also been extended.
Visit farmers.gov/hurricane for a full list of programs as well as available flexibilities to help after hurricanes Helene and Milton. You can also find and visit your nearest USDA Service Center or call the Farm Service Agency Call Center at 877-508-8364 to get assistance.
FEMA Public Assistance Grants (Only Non-profits)
Faith-based, community, volunteer, and non-profit organizations may be eligible to apply for FEMA grants in areas eligible for the FEMA Public Assistance program. Only organizations with state or IRS tax exempt status may be considered. Grants assistance may be provided for the repair, replacement. or restoration of disaster-damaged facilities of certain private non-profit (PNP) organizations. Contact your local, state, tribal or territorial emergency manager for more information to begin the application process.
