Small Business Grant Program Announced
The Rebuild VA Grant Fund is a program to help small businesses and nonprofits whose normal operations were disrupted by COVID-19. Businesses and non-profits that are approved for a Rebuild VA grant may receive up to 3 times their average monthly eligible expenses up to a maximum of $10,000. The Rebuild VA program has been capitalized with $70 million and will provide assistance to approximately 7,000 businesses and nonprofits. Half of the program funds will be distributed to eligible small businesses and nonprofits operating in low-income and economically disadvantaged communities, including ensuring there is adequate representation of minority-owned and women-owned businesses.
These grants are aimed at assisting small businesses and nonprofits that have faced economic distress as a result of the COVID-19 pandemic. Eligible entities include those in the following industry sectors: restaurant and beverage service, non-essential retail, exercise and fitness, personal care and personal grooming, entertainment and public amusement, private campgrounds, and overnight summer camps.
This statewide program is capitalized with $70 million, which means we will be able to assist approximately 7,000 businesses. Half of the proceeds will be directed toward small businesses and nonprofits located in economically disadvantaged areas, including ensuring adequate representation of women-owned and minority-owned businesses.
More details about the program, including eligibility criteria, may be found in the attached flyer or by visiting https://www.governor.virginia.gov/rebuildva/. We hope that you will share this information widely with your networks.
THE APPLICATION WILL BE AVAILABLE ON AUGUST 10, 2020
Download the flyer here