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Applications open for COVID-19 small business grant program in Petersburg

Posted at 10:08 PM, Aug 03, 2020
and last updated 2020-08-03 22:19:32-04

PETERSBURG, Va.-- Petersburg small businesses financially impacted by COVID-19 can now apply for grants up to $5,000.

The COVID-19 small business grant program is funded by the CDBG CARES Act and is intended to provide direct financial relief to businesses significantly impacted during the pandemic.

Petersburg City Council approved the program and the City will distribute grants based on need ranging from $500 to $5,000.

“This program is a direct result of the City actively listening to what our business community needs during this difficult time,” said Petersburg City Manager, Aretha R. Ferrell-Benavides.

Businesses eligible for relief:

  • Pays taxes to the Commissioner of the Revenue.
  • Has been operational for at least 12 months (as of July 1, 2020.)
  • Has a Gross Annual Revenue of at least $25,000.
  • Employs 30 Full-Time Employees (FTE) or fewer.
  • Business owners with multiple businesses can only receive one grant.

Businesses not eligible for relief:

  • Businesses or franchises not headquartered in the City of Petersburg.
  • Independent Contractors in network marketing or on gig platforms.
  • Businesses engaged in speculation or investment in rental real estate.
  • Business deemed “Ineligible Businesses” under SBA guidelines.

“Our City Council genuinely empathizes with our local business owners,” Mayor Sam Parham said. “Offering this grant funding will hopefully provide the necessary financial support our local small businesses are looking for as they navigate these current challenges.”

The application deadline for the first round of grant funding is 5:00 p.m. on Friday, August 14th.

Grant applications are accepted online and can be found here.