$10k Grant: Virginia Small Businesses
Application Opens August 10, 2020
Assistance for Virginia Small Business & Nonprofits Impacted by COVID-19
The State of Virginia has announced $70 million in grants available to small business and nonprofit organizations whose normal operations have been impacted by COVID-19 pandemic. Small businesses and nonprofits are invited to apply for up to $10,000 or 3x amount of monthly operating expenses, whichever is less. The program, Rebuild VA, is administered by the Department of Small Business and Supplier Diversity.
Does your business qualify?
Small businesses and nonprofits who are eligible for the funding include food and beverage establishments, non-essential retail, exercise and fitness, entertainment and public amusement, personal care and personal grooming services, and private campground and overnight summer camps.
These businesses must be:
In good standing with the State Corporation Commission;
Have gross annual revenues of $1.5 million or less;
Have no more than 25 employees.
How much is the grant for?
The program will assist around 7,000 businesses at up to $10,000 each. The final determination is dependent on the business or non-profits monthly operating expenses. Grants can not exceed $10,000 or 3 times monthly operating expenses, whichever is less.
What Can the Rebuild Va Grant Be Used For?
The grant money can be used to cover the following expenses:
Payroll support, including paid sick, medical, or family leave, and costs related to the continuation of group health care benefits during those periods of leave;
Mortgage payments, rent, and utilities;
Principal and interest payments for any business loans from national or state-chartered banking, savings and loan institutions, or credit unions, that were incurred before or during the emergency;
Eligible personal protective equipment, cleaning and disinfecting materials, or other working capital needed to address COVID-19 response.
Want to know more?
To learn more about Rebuild VA and what is needed to apply visit their website and register for their information sessions prior to the application opening on August 10, 2020.
Aug 4th 9:00 am
Aug 4th 5:30 pm
We just sent you an email. Please click the link in the email to confirm your subscription!