Assisted NC businesses in winning 4,424 contracts minimum value of $17.04 billion
Support Provided by Fayetteville Technical Community College

Employee Retention Credit (ERC) 

 Background on the Employee Retention Credit (ERC) 

The U.S. government set up the ERC to help those businesses that maintained employees during the Covid-19 pandemic. 

The ERC is a grant, not a loan that a business can claim. It was established by the CARES Act and is based on W-2 wages paid to employees. 

  • Credits of up to $26,000 per employee 
  • Available for wages paid in 2020 and 2021 
  • Qualify with decreased revenue or affected by government mandated restrictions 
  • For companies where less than 500 employees work more than 30 hours per week 

How do you know if your business/organization qualifies? 

You most likely qualify if you meet any of the following criteria. 

  • Gross revenues are down 20% for one quarter in 2021 vs 2019 
  • Gross revenues are down 50% for one quarter in 2020 vs 2019 
  • The government forced you to close or limit your business (for example restaurants) 
  • The business was established after 2/15/2020 
  •  PPP loans do not disqualify eligibility 

How to apply? 

For more information on the ways to apply, contact Seth Woodard with the Office of Senator Don Davis. 

The NC Military Business Center, the NC Community College System, and the State of North Carolina do not officially endorse events. These items are posted strictly for the information and convenience of NCMBC customers.

website by Biz Tools One