Virginia launches grant program for small businesses

Virginia launches grant program for small businesses
(FILE) (Source: Pixabay)

CHARLOTTESVILLE, Va. (WVIR) - The Commonwealth of Virginia has a new grant for small businesses affected by the coronavirus pandemic.

The Virginia Small Business Development Centers held a virtual Q&A session Tuesday, August 11, to help people understand the grant .

“The Rebuild Virginia grant is $70,000,000. We’re hoping to have about 7,000 grants at $10,000 a piece,” Joni Marshall with the Virginia Department of Small Business and Supplier Diversity said.

Marshall also says grant is federally funded.

“The Rebuild Virginia Grant comes from the CARES Act funding that Virginia received from the federal government,” she said.

There’s certain criteria businesses must meet to be considered eligible: “Business or not profit, you can be a corporation a 501(c)(3), (7), or (19) or a Virginia tribe, a sole proprietor or an independent contractor,” Marshall said.

The grant can be used for any expenses related to COVID-19, as well as mortgage payments, employee salaries, and payroll support but it is only available to certain businesses.

“Currently the grant is only covering those businesses that were impacted by Executive Order 53,” Marshall said.

But there’s more stipulations than that.

“If you received any type of paycheck protection funding, any type of economic injury disaster loan through the SBA or received the advance or $600 that was extra for the unemployment you are not eligible to apply for the Rebuild Virginia Grant,” she explained.

Marshall says even if your business doesn’t qualify now, that might change.

“The decision was made to stay strictly with the EO53,” Marshall said. “I would encourage folks that were interested in the grant to continue to check back with the governors website to see if there may be changes in the eligibility criteria.”

The application is open now and available until the all of the money has been distributed or until December 31.

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