Governor Josh Stein recently announced that $55 million in relief funding has been distributed to 2,812 small businesses across western North Carolina through the Western North Carolina Small Business Initiative. The grants are intended to help businesses recover from the effects of Hurricane Helene and strengthen the region’s economic recovery. More than 7,300 businesses applied for the assistance.
The funding was made possible through a partnership between the Dogwood Health Trust, the Duke Endowment, and the State of North Carolina. Grants of up to $50,000 were awarded to eligible small businesses with annual revenues of up to $2.5 million.
While the grants have provided significant support, Governor Stein noted the high number of applications indicates a continued need for assistance. He expressed a willingness to work with legislators to deliver additional aid to small businesses in western North Carolina.
The Dogwood Health Trust launched the initiative last fall as part of its broader Hurricane Helene recovery efforts. It was later expanded with support from the state and the Duke Endowment.
Governor Stein also recently introduced the Small Business Infrastructure Grant Program, which offers up to $1 million in grants to local governments to help rebuild public infrastructure such as sidewalks and sewer systems—critical to supporting business activity. His next relief budget proposal includes additional support for small businesses in the region.