Round 3 FAQs

The Frequently Asked Questions and responses below provide guidance based on common questions. Additional FAQs may be added to the website as inquiries are received.

WHAT ARE THE MOST COMMON MISTAKES TO AVOID IN MY APPLICATION?

• Not eligible or uses not allowed

  • Applicant business not located inside one of the six Corridors of Opportunity.

  • Request includes unallowed uses (see CAN and CANNOT lists).

• Missing, incomplete or inaccurate documentation and information

  • Required documents missing, incomplete or outdated.

  • Two cost estimates for asset not provided (required for each asset over $20k).

  • Required financial documents (such as profit and loss statements, cash flow reports) missing, incomplete, or do not show credible or consistent information. 

  • Mismatch between amount of request and cost of asset to be acquired as documented by cost estimates.

  • Description of business services or products vague and unsupported by related documentation and information.

  • Requested or required business goals and business plan lack clarity, are not well defined or described, or do not credibly illustrate clear planning and/or measurable outcomes.

• Connection(s) between grant request and business goals weak or lacking in detail

  • Application lacks strong or very clear connections between the asset to be acquired and how the asset would create clear, specific business impacts and help achieve business goals.

  • Extensive list of unrelated assets or a “laundry list” of many or all business needs as opposed to a single asset, or very closely related assets, that will help to achieve clear business outcomes.

  • Asset to be acquired not clearly described or without specific brand model, type or other detailed information.

  • Grant request is for purchase or lease of unspecified commercial real estate property yet to be located.

IS IT WORTH MY TIME TO PARTICIPATE AND APPLY GIVEN HOW COMPETITIVE BEYOND OPEN IS?

Applying for a Beyond Open grant can help equip small business owners to succeed, even if you do not receive a grant in this competitive process. Preparing an application for Beyond Open can help empower you to apply to many other small business grant and loan programs that require similar documents and information.  All business owners must assess the value of time and resources expended for potential opportunities. Being eligible or applying for a grant does not guarantee an award.

HOW DOES BEYOND OPEN WORK TO HELP MAKE THE PROGRAM ACCESSIBLE?

Awareness efforts for Beyond Open include: corridor canvassing and community events; in-person and online information sessions; information and applications in English, Spanish and Vietnamese; a website and collateral materials; social media; paid media and earned media. Outreach, technical assistance and support are made available through three community partner organizations – ASPIRE Community Capital, Prospera, and Women’s Business Center of Charlotte, and through other Beyond Open Advisory Council organizations including the Carolinas Asian American Chamber of Commerce, Carolinas LGBT+ Chamber of Commerce, Charlotte Mecklenburg Black Chamber of Commerce, City StartUp Labs, Historic West End Partners, Latin American Chamber of Commerce of Charlotte, North End Community Coalition, Veterans Bridge Home, and the Vietnamese Association of Charlotte.

IS BEYOND OPEN A "FIRST COME, FIRST SERVED" GRANT PROGRAM?

Beyond Open grant award decisions are made after all received applications are reviewed and scored. Beyond Open is not a “first come, first served” grant program.