More Small Businesses Now Eligible to Apply for REBUILD! VA Grants
Small businesses and non-profits are facing an unprecedented economic disruption due to the Coronavirus (COVID-19) outbreak. Many have struggled to pay employee salaries, mortgage payment, rent, etc. The Rebuild! VA Grant Fund, a state-funded, $70 million economic recovery program, was launched in August to assist small businesses and non-profits with COVID-19 related expenses. The program has now expanded its scope to allow more small businesses and non-profits to apply for grants of up to $10,000 – even if they have previously received loans or grant funding (from both federal and local funding programs – including Fairfax County RISE grants or microloans). Grant decisions will be made on a first come-first served basis.
What can funds be used for?
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
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
Who can apply?
Businesses and Non-profits that:
Have their principal place of business is in Virginia
Have 25 employees or less
Had a gross revenue of less than $1.5 million in the last fiscal year
Were in operation prior to March 12, 2020
Are currently in good standing with the Virginia State Corporation Commission
That are engaged in legal activity
Grant applications are available online. Visit the REBUILD! VA website. Additional information on other programs for businesses and non-profits can be found on the Fairfax County COVID-19 Business Recovery website.