Rebuild VA grant quantities improve from $10,000 to $100,000

Governor Northam speaks throughout a 2019 Alexandria go to. (Picture: James Cullum/Zebra Press file photograph)

ALEXANDRIA, VA – On Wednesday, Oct. 28, Gov. Ralph S. Northam (D-VA) introduced the enlargement of a grant program designed to assist small companies and nonprofits affected by the pandemic. Since that announcement, in accordance with the application website, Rebuild VA has had its eligibility standards widened and the quantity of funding companies can obtain has elevated.

In August, the grant program started with $70 million in federal funding from the Coronavirus Aid, Relief, and Economic Security Act. To strengthen Rebuild VA, an extra $30 million can be used.

The utmost grant award has elevated from $10,000 to $100,000. Companies with fewer than 250 workers and a gross income of lower than $10 million are eligible to use for help.

“We began Rebuild VA to assist small companies and nonprofit organizations navigate the impacts of the COVID-19 pandemic,” mentioned Northam. “These adjustments to this system will be sure that we are able to present further monetary help to much more Virginians to allow them to climate this public well being disaster and emerge stronger.”

Funding covers the next bills:

  • Payroll help, together with paid sick, medical, or household go away, and prices associated to the continuation of group well being care advantages throughout these durations of go away;
  • Worker salaries
  • Mortgage funds, hire, and utilities
  • Principal and curiosity funds for any enterprise loans from nationwide or state-chartered banking, financial savings and mortgage establishments, or credit score unions, that had been incurred earlier than or in the course of the emergency
  • Eligible private protecting tools, cleansing and disinfecting supplies, or different working capital wanted to deal with COVID-19 response

Eligible companies and nonprofits should display that their regular operations had been restricted by Northam’s Government Orders Fifty-Three or Fifty-Five, or that they had been straight impacted by the closure of such companies.

This enlargement implies that protection can be open to all small companies within the state – from summer season camps to retail outlets – supplied that an applicant meets the eligibility necessities. Companies which have obtained a grant beforehand can be awarded a second in accordance with the brand new tips.

This system is run by the Division of Small Enterprise and Provider Variety (SBSD). The SBSD is working in partnership with the Division of Housing and Neighborhood Growth, the Virginia Tourism Company, and the Virginia Financial Growth Partnership.

The applying interval is now open.

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