Small businesses, nonprofits encouraged to apply for Rebuild VA Grant
RICHMOND, Va. (WWBT) - Governor Ralph Northam announced that the eligibility criteria expanded and the amount of funding a business could receive has increased through the Rebuild VA Grant.
The grant launched in August with $70 million from the CARES Act. Northam has directed an additional $30 million to support the expansion of the program.
Businesses with less than $10 million in gross revenue or fewer than 250 employees will be eligible under the new criteria. The maximum grant award will also increase from $10,000 to $100,000.
“We started Rebuild VA to help small businesses and nonprofit organizations navigate the impacts of the COVID-19 pandemic,” said Northam. “These changes to the program will ensure that we can provide additional financial assistance to even more Virginians so they can weather this public health crisis and emerge stronger.”
Rebuild VA funding may be used for the following:
- 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
- Employee salaries
- 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
For more information and how to apply, click here.
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