Round 2 Timeline
Beyond Open grants are designed to build economic mobility by providing access to capital for diverse (minority, woman, veteran, LGBTQ+, persons with a disability) small business owners without adding debt. Before you apply, we highly encourage you to read and review the following program guidelines.
Beyond Open Round 2 Overview
Beyond Open is a competitive grant program that can help diverse (minority, woman, veteran, LGBTQ+, persons with disabilities) small business owners invest in capital assets to grow their business.
Beyond Open grants do not need to be repaid.
Beyond Open grants may be taxable events according to the U.S. Internal Revenue Service. Business owners should consult their tax expert for guidance on the possible impacts of receiving a Beyond Open grant in 2023.
Round 1 Grant Facts
Number of total grant applications received: 3,200
Number of total grants awarded: 178
Dollar amount of total grants awarded: $5.9 million
Individual grant amounts: $5k – $250k
Round 2 Grant Facts
Number of total grant applications anticipated: 1k - 3k
Number of total grants to be awarded: approximately 175
Dollar amount of total grants to be awarded: approx. $5 million
Individual grant amounts: $10k – $150k
Beyond Open grants CAN be used to acquire equipment, technology, real estate or inventory (see uses below.)
Beyond Open grants CANNOT be used for operating expenses including: payroll; advertising/marketing; utilities; debt repayment; investment properties; or expenses related to investment properties.
Being eligible and applying for a Beyond Open grant does not guarantee a grant award.
Round 3 will open in 2024.
Eligibility Requirements and Documentation
Before you begin an application for Round 2, make sure that your business meets ALL of the Round 2 eligibility requirements below. Applications from businesses that do not meet all of the requirements below will not be considered for a Round 2 grant.
The focus of the Beyond Open program is on diverse-owned small businesses, with majority (at least 51% ownership) minority, woman, veteran, LGBTQ+ or persons with disabilities ownership.
Requirement 1
Physically located within one of the six Corridors of Opportunity as identified by the City of Charlotte.
Click the button below for directions on how to verify if your business is located inside a Corridor of Opportunity.
You will be asked to provide proof of physical business address inside one of the six Corridors of Opportunity by uploading TWO documents from the list below:
a) North Carolina Secretary of State registration with matching address
b) Copy of current lease agreement
c) Utility bill under business name
d) Recorded deed from Mecklenburg County Register of Deeds
e) NC Sales & Use tax registration or exemption certificate
f) Business zoning receipt
g) Bank Statement
h) Tax Return
(Note: A P.O. Box or virtual address cannot be used as proof of eligibility or for business location confirmation.)
Requirement 2
At least one full year of operation beginning on or before August 1, 2022. You will be asked to provide proof with one of the following documents showing both the business name and a business date on or before August 1, 2022:
a) North Carolina Secretary of State registration
b) Copy lease agreement / mortgage statement
c) Utility bill under business name
d) Register of Deeds with Mecklenburg County Register of Deeds.
e) NC Sales & Use tax registration or exemption certificate
f) Business zoning receipt
g) Bank statement
Requirement 3
For-profit organization. Nonprofit 501(c)(3)s are not eligible to apply in Round 2.
Requirement 4
Minimum annual revenue of $30k and a maximum annual revenue of $5M. (Note: revenue to be verified by tax return information.)
Requirement 5
Fewer than 200 full and/or part-time employees. (Note: owners should count themselves as an employee for this grant program).
Requirement 6
If a franchise, it must be locally owned and independent.
Requirement 7
Required documents and information. The information and documentation below will be required based on the amount of Round 2 grant.
Grants CAN be used for:
Capital assets eligible for Beyond Open grants are significant pieces of property that can be owned. Examples include, but are not limited to:
• Computers, printers and other small office equipment
• Cell phones and other communications equipment
• Software licenses (up to one year)
• Build-out of a company website, an e-commerce website, sales system or digital commerce platform
• Hand tools or small appliances
• Minor store or space renovations or improvements
• Small office furnishings, display or showroom equipment
• Storefront beautification or new signage
•Store fixtures (display racks, built-in seating and counters, lighting)
• Business site improvements, HVAC equipment, windows, roofing replacement
• Safety, security and surveillance equipment
• Parking lot resurfacing
• Leading-edge technology
• Purchase of a warehouse or other commercial property (up to 20% of purchase price)
• Lease of a new commercial property (up to one year)
• Large inventory purchases
• Major equipment
• New vehicles (car, truck, van, food service, delivery) or vehicle upfits
• Specialty or industrial equipment
• Renewable energy sources via equipment or technology
• Other significant capital investments
Grants CANNOT be used for:
• Operating expenses
• Payroll
• Utilities
• Advertising/marketing
• Consulting
• Debt repayment
• Investment properties and investment property expenses
• Training, classes, certifications
• Insurance
• Consulting and professional services (legal, accounting, medical, marketing/advertising)
• Existing leases
