Small businesses are the backbone of South Carolina's economy, accounting for 99% of all private employers in our state. Today, more than ever, it's critical to support these key businesses within our borders.
In an effort to provide financial relief to South Carolina businesses impacted by COVID-19, earlier this week, Governor Henry McMaster announced two new S.C. CARES Act grant programs - the Minority and Small Business Relief Grant Program and the Nonprofit Relief Grant Program. These initiatives are designed to provide financial relief to South Carolina's minority and small businesses and nonprofits for COVID-19 related financial or operational impacts, with the goal of accelerating the state's economic recovery.
The Minority and Small Business Relief Grant Program will reimburse qualified recipients from $2,500 to $25,000. To qualify, minority and small businesses must employ 25 or fewer employees, be physically located in South Carolina and be in operation from Sept. 13, 2019, to present.
The Nonprofit Relief Grant Program will reimburse qualified recipients from $2,500 to $50,000. To qualify, nonprofits must be designated as a 501(c)(3) nonprofit organization by the Internal Revenue Service, be registered as a public charity with the South Carolina Secretary of State, be physically located in S.C and be in operation from Sept. 13, 2019, to present.
The online application period for both programs is currently underway, and organizations have until November 1 to apply.
COVID-19 has caused significant disruptions across all industries, and Team South Carolina is committed to providing organizations the resources needed to overcome this difficult time. These new grant programs - aimed at supporting small and minority-owned businesses as well as nonprofits - will help continue to fuel the American dream and entrepreneurial spirit, which ultimately leads to more jobs and growth within local communities.