Starting a small business in North Carolina can be an exciting endeavor, but securing funds to launch and grow your venture can be a major hurdle. Fortunately, the state of North Carolina offers a variety of grants specifically designed to support small businesses. In this article, we will explore some of the grants available in North Carolina and discuss how to increase your chances of securing funding.
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1. North Carolina Biotechnology Center Industrial Fellowship Program
If your small business operates or plans to operate in the field of biotechnology, the North Carolina Biotechnology Center Industrial Fellowship Program could be a suitable grant to explore. This program provides financial support to small businesses that are developing innovative biotechnology-oriented products, services, or processes. The grant aims to stimulate job creation, company growth, and economic development within the biotechnology sector in North Carolina. Successful applicants can receive up to $40,000 in funding.
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2. North Carolina Rural Igloo Account Program
For small businesses operating in rural areas of North Carolina, the Rural Igloo Account Program may offer financial assistance. This program provides grants for capital projects that focus on infrastructure development, job creation, and economic growth in rural communities. Up to $750,000 is available per project, making it an excellent option for small businesses looking to expand or establish themselves in rural regions.
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3. North Carolina Entrepreneur Development Fund
Nurturing and supporting entrepreneurship is a key priority for the state of North Carolina. With this in mind, the North Carolina Entrepreneur Development Fund provides grants to small businesses that promote innovative ideas, job creation, and economic diversification. The grant can be used for various business expenses, including research and development, marketing, and expansion. Award amounts vary based on the scope and impact of the proposed project.
4. North Carolina Business Development Grant
The North Carolina Business Development Grant is specifically designed to assist small businesses looking to expand or relocate to North Carolina. The grant can be used to offset expenses related to land improvement, building and facility construction, machinery and equipment purchases, and job training. The amount awarded depends on various factors, such as the number of jobs created and projected investment.
5. North Carolina Rural Business Development Grant
Another grant aimed at small businesses operating in rural areas is the North Carolina Rural Business Development Grant. This grant provides financial support for projects that will enhance the economic viability and quality of life in rural communities. Funds can be used for activities like business planning, feasibility studies, and marketing efforts. The grant typically covers up to 50% of the costs, and eligibility is determined based on factors such as job creation, community benefit, and project sustainability.
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