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Colonial Heights offers grants for small businesses impacted by COVID-19

Posted at 4:48 PM, Aug 12, 2020
and last updated 2020-08-12 16:48:47-04

COLONIAL HEIGHTS, Va. -- Small businesses in Colonial Heights affected by COVID-19 can apply for up to $10,000 in CARES Act grants.

The City of Colonial Heights Economic Development Authority (EDA) established a Small Business Disaster Fund grant program in response to the COVID-19 pandemic on June 9. Council approved $500,000 from CARES Act funding to be used for small business grants in an effort to assist the small business community. The program's funding can be used for retaining employees, operational expenses, and inventory.

“We want to assist our businesses as much as possible because we know they have been seriously impacted by the pandemic," Mayor Greg Kochuba said.

After administering a first round of grants, which was completed on July 15, the EDA will begin a second round of grants with more opportunity for financial relief for employers with 31-50 employees.

The second round of grants will begin August 10, 2020with a deadline of October 1, 2020. T

There are three levels of grants based on business size:
Level 1: 1-15 employees $5,000
Level 2: 16-30 employees $7,500
Level 3: 31-50 employees $10,000.

For additional information on the COVID-19 Small Business Grant Program or request an application, email EDA@colonialheightsva.govor call (804)898-3002