Asheville Supports Small Businesses After Hurricane Helene

Categories: Business NewsFinanceNewsRetail

Community support for small businesses in Asheville after Hurricane Helene

News Summary

Asheville is implementing new initiatives to support small businesses affected by Hurricane Helene. With partnerships involving Explore Asheville and Lowe’s, the city is launching substantial grant opportunities, particularly for minority and women-owned businesses. Community feedback is being sought to help shape recovery plans. Lowe’s has also established a recovery fund and pledged meals for local families. Together, these efforts aim to strengthen the community spirit and ensure a swift recovery for local businesses.

Asheville Takes Strides to Support Small Businesses Following Hurricane Helene

In the wake of Hurricane Helene, Asheville is stepping up to ensure that local businesses can bounce back better than ever. The city, along with the Explore Asheville team and Lowe’s, is launching several support initiatives designed to help small businesses, particularly those owned by minorities and women, who were impacted by the storm.

New Grant Opportunities for Local Businesses

Explore Asheville recently unveiled three exciting grant opportunities aimed at providing substantial financial assistance to businesses in Western North Carolina. The first is the WNC Hurricane Helene Small Business Grant Relief Fund, which offers grants ranging from $55,000 to $910,000. This program specifically targets minority-owned and women-owned businesses that were operational for at least a year prior to the hurricane. The focus is on aiding those most affected by the disaster.

The second initiative, known as the Heart on Main Street Natural Disaster Relief Program, is set to benefit independent retailers who suffered due to natural disasters. Grants here will depend on how much revenue the businesses lost compared to their earnings from 2023 to 2024, with priority given to those with documented losses and solid recovery plans.

Lastly, organizations and volunteer groups involved in repairing recreation sites can apply for the Outdoor Recreation Roundtable Microgrants, which offer amounts between $5,000 and $10,000. Applications for this program are due by April 2, so interested parties should act fast!

Community Input Needed for Recovery Plans

The City of Asheville is actively seeking public input on the CDBG-DR Action Plan, with responses required by April 3. Community feedback is crucial, as it will help advocate for the needs of local businesses during this recovery phase.

Lowe’s Steps Up with a Generous Recovery Fund

Lowe’s is also playing a significant role in the recovery efforts, launching the $2.5 Million Western North Carolina Small Business Recovery Fund. This initiative will provide grants of $20,000 to 100 eligible small businesses that have faced challenges due to Hurricane Helene. Applications can be submitted between November 18 and November 22, 2024. This fund is dedicated to addressing urgent needs such as payroll, rent, and equipment replacements.

Sustaining the Community Spirit

But that’s not all! For the upcoming Thanksgiving celebration, Lowe’s is committed to delivering 3,000 family-style meals across various locations to support local communities. This generous gesture aligns with Lowe’s broader pledge of $12 million aimed at facilitating relief and recovery efforts throughout Western North Carolina.

Supporting the Heart of Asheville

Exploring further support, Explore Asheville has set up the Always Asheville Fund, which specifically aims to assist small, independent travel and hospitality businesses affected by the storm. The fund started with an initial investment of $300,000 and will offer emergency grants instead of loans, ensuring that aid reaches those who need it most rapidly and effectively.

Community and State-Level Support

In recognition of the challenges faced, Governor Josh Stein and HUD Secretary Adrianne Todman announced a whopping $1.65 billion in Community Development Block Grant Disaster Recovery awards for Western North Carolina. These funds will support rebuilding homes, repairing infrastructure, and providing much-needed assistance to small businesses.

The state of North Carolina will benefit from $1.4 billion, while the City of Asheville will see direct funding of $225 million to tackle recovery challenges effectively. Meanwhile, in a proactive move, Governor Stein has issued an executive order to speed up efforts by allowing the purchase of temporary housing units for those displaced by Hurricane Helene. A new recovery team, led by an appointed coordinator, will oversee all recovery efforts, ensuring a streamlined approach to getting Asheville back on its feet.

Looking Ahead

With these initiatives underway, Asheville is demonstrating a strong community spirit and commitment to recovery, proving that challenges can be overcome when everyone comes together. The future is looking bright, and with the right support, local businesses can thrive once again!