The City of Asheville is advancing long-term economic recovery efforts through two small business recovery programs funded by Community Development Block Grant – Disaster Recovery (CDBG-DR) funding from the U.S. Department of Housing and Urban Development (HUD). Through these investments, the City is providing funding to local partner organizations that will administer and operate independent recovery programs designed to support businesses impacted by Tropical Storm Helene.
Applications for both programs will open Monday, June 15.
In January, Asheville City Council approved $15.5 million in funding to local subrecipients through the City’s Small Business Support Program as part of Asheville’s broader disaster recovery strategy. The programs are designed to help stabilize Asheville’s small business community, support job retention, and strengthen long-term economic resilience.
“These grants represent an important step in helping Asheville small businesses recover from the impacts of the storm and continue serving our community,” said Mayor Esther Manheimer. “Our small businesses and entrepreneurs are at the heart of Asheville’s economy, and we are thankful for the partnerships that will help bring this support to them.”
Asheville Recovers Together
The Asheville Recovers Together Small Business Grant Program, administered by the Asheville Recovers Together partnership between Mountain BizWorks, Arts AVL, and Eagle Market Streets, will provide $14.6 million in grant funding to eligible Asheville businesses impacted by Tropical Storm Helene.
Through the program, eligible businesses may receive grants ranging from $5,000 to $75,000 to address unmet disaster recovery needs.
“Asheville’s small businesses are at the heart of what makes this community strong. They power our local economy, create jobs, support families, and help shape the unique character and culture that define Asheville,” said Matt Raker, Executive Director of Mountain BizWorks. “This program is a critical investment in helping our small business community recover from the impacts of the storm and continue building a vibrant and resilient local economy.”
To qualify, businesses must:
- Be located within Asheville city limits
- Have been operating prior to September 27, 2024
- Demonstrate unmet financial losses related to Tropical Storm Helene
Applications for the program will open Monday, June 15 and close Tuesday, July 14 at 12 p.m. A public kickoff event will be held Thursday, June 11 at 9:30 a.m. at the YMI Cultural Center.
The program includes free technical assistance and application support through multiple community partners to help businesses prepare and submit applications.
More information, eligibility requirements, and application materials are available at AshevilleRecoversTogether.org.
Optimist Ventures Disaster Recovery Accelerator
The City of Asheville is also providing CDBG-DR funding to support the Optimist Ventures Disaster Recovery Accelerator, an independently administered small business recovery initiative designed to help Asheville entrepreneurs stabilize and strengthen their operations following Tropical Storm Helene.
Through the program, eligible businesses may receive up to $25,000 in CDBG-DR funding, paired with additional private investment support through Optimist Ventures. The accelerator combines financial assistance with structured business recovery planning, mentorship, entrepreneurial training, and technical assistance.
“Small businesses are essential to Asheville’s economy and to the long-term strength of our community. When disasters impact local businesses, the effects ripple far beyond storefronts—affecting jobs, families, and the economic vitality of the region,” said Jeffrey Kaplan, CEO of Optimist Ventures. “This innovative program is designed to help entrepreneurs not only recover from the immediate impacts of the storm but also build the stability, support systems, and entrepreneurial competencies needed to succeed well into a constantly changing business environment.”
Eligible uses of funds may include payroll support, inventory replacement, equipment repair, working capital, lease obligations, and other approved disaster recovery expenses.
Applications open on Monday, June 15 and will remain open through Friday, July 17. Finalist presentations will take place August 3–6, with final selections announced August 7.
The initiative is designed to support both immediate business recovery needs and long-term economic growth by helping local businesses build operational resilience and strengthen connections within Asheville’s entrepreneurial ecosystem.
More information about eligibility and application timelines is available at www.optimistventures.co
About the City of Asheville’s CDBG-DR Program
On January 16, 2025, the U.S. Department of Housing and Urban Development allocated $225,010,000 in CDBG-DR funds for the City of Asheville’s recovery from Tropical Storm Helene. CDBG-DR is a federal disaster recovery program that provides funding to communities affected by major disasters. These funds must be used to address unmet disaster-related needs, particularly in housing, economic revitalization, and infrastructure restorations.
Learn more about the City of Asheville’s CDBG-DR program and read the City’s Action Plan at ashevillerecovers.org/cdbg-dr.