CHESTERFIELD, Va. (WWBT) - Chesterfield County is launching the “Back in Business” grant program to support small businesses negatively impacted by COVID-19.
The $5 million in funding for the grant program comes from federal funding the county received through the Coronavirus Aid, Relief and Economic Security (CARES) Act.
The $10,000 in grants are designed to provide relief to small businesses and help them stay in business through the pandemic.
“Applicants will be required to demonstrate that they are eligible, that they were operational pre-COVID-19, and that they are suffering negative impacts from COVID-19 closures,” Chesterfield County officials said.
Here is the criteria to be eligible:
- Must be a for-profit business entity with a place of business located in Chesterfield County;
- Must have been in business for a minimum of 2 years;
- Must have at least $200,000 but no more than $2 million in annual gross revenues;
- Must be able to demonstrate at least a 25% loss in revenue that can be attributed to COVID-19.
The grants can be used for:
- Employee compensation (including wages and benefits)
- Working capital
- Equipment Inventory
- Other business-critical operating expenses
Applications are expected to open in mid-June. Updates will be provided, HERE.
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