RICHMOND, Va. -- The Rebuild VA COVID-19 relief grant is expanding its eligibility criteria to allow more small businesses to apply.
Businesses that received federal CARES Act funds and supply chain partners affected by business closures are now eligible to receive grants of up to $10,000.
The $70 million economic recovery fund originally launched in August.
“When we initially launched Rebuild VA, we focused on reaching the small businesses and nonprofit organizations most in need,” said Governor Northam. “I am deeply grateful for the work of our state agencies to swiftly adjust the parameters of this program so we can assist more Virginia businesses as they weather this health crisis and build back stronger.”
Businesses that receive the federal funds must certify that they will only use the Rebuild VA grant for recurring expenses and that the grant will not be used to cover the same expenses as the other CARES Act funds.
In order to apply, a business has to be in Virginia, have 25 or fewer employees, and gross revenue can be no more than $1.5 million. Additionally, the business must have been operating before March 12, 2020
Rebuild VA funding may be utilized for the following eligible expenses:
- 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 additional information about Rebuild VA and to submit an application, click here.
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