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Second round of ‘Back in Business’ grants now available in Chesterfield

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Posted at 2:51 PM, Jun 29, 2020
and last updated 2020-06-29 14:51:23-04

CHESTERFIELD COUNTY, Va. -- Applications are open for Chesterfield County’s second round of ‘Back in Business’ grants for businesses most impacted by COVID-19.

Earlier this month, the Board of Supervisors and Chamber of Commerce came up with the Back in Business Grant program using $5 million of CARES ACT funding.

The program creates a small business relief fund for businesses impacted by COVID-19.

County officials say round two of funding comes with new and more flexible criteria that officials believe we result in a more robust second round of funding.

Round two will also allow for a larger range of annual gross revenues to qualify and adjusts the grant awards on a sliding scale, based on the size of the business applying.

To be eligible to apply for Round Two, a business:

1. Businesses that have received other funding assistance, including PPP and/or EIDL ARE NOW ELIGIBLE.

2. Must be a for-profit business entity with a place of business located in Chesterfield County;

3. Must have been in business for a minimum of 2 years;

4. Must have at least $30,000 but no more than $3 million in annual gross revenues for the past 2 years;

5. Must be able to demonstrate at least a 25% loss in revenue that can be attributed to COVID-19;

6. Franchises must be headquartered in Chesterfield County and are eligible only for one grant regardless of the number of locations in the County;

Grant amounts will be awarded to eligible businesses on a sliding scale, based on Annual Gross Revenues:

1. Annual Gross Revenues of $30,000 to $49,999 are eligible for a grant in the amount of $5,000;

2. Annual Gross Revenues of $50,000 to $199,999 are eligible for a grant in the amount of $7,500;

3. Annual Gross Revenues $200,000 to $3 million are eligible for a grant in the amount of $10,000.

What businesses are NOT eligible to apply?

7. Businesses that are franchises and chains that are not headquartered in Chesterfield County are not eligible to apply.

8. Independent contractors operating multilevel or network marketing businesses (such as Avon, Mary Kay, 5LINX, Pampered Chef, etc.) are not eligible to apply.

9. Independent contractors working on gig platforms (such as Airbnb, Fiverr, Uber, Lyft, Instacart, etc.) are not eligible to apply.

10. Nonprofit organizations are not eligible to apply.

11. Businesses engaged in speculation or investment in rental real estate are not eligible to apply.

12. Businesses determined to be Ineligible Businesses under SBA guidelines are not eligible to apply.

Applications for round two will open from Monday, June 29 until Thursday, July 2 at noon.

Click here for more information or to apply.

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