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The Commonwealth is launching a new grant program for small businesses and nonprofits called Rebuild VA. The program will provide grants of up to three times the applicant’s average monthly eligible expenses, up to a maximum award of $10,000. The application will become available on August 10, 2020.
These grants are aimed at assisting small businesses and nonprofits that have faced economic distress as a result of the COVID-19 pandemic. Eligible entities include those in the following industry sectors: restaurant and beverage service, non-essential retail, exercise and fitness, personal care and personal grooming, entertainment and public amusement, private campgrounds, and overnight summer camps.
This statewide program is capitalized with $70 million, which means it will be able to assist approximately 7,000 businesses. Half of the proceeds will be directed toward small businesses and nonprofits located in economically disadvantaged areas, including ensuring adequate representation of women-owned and minority-owned businesses.
More details about the program, including eligibility criteria, may be found in this flier or by visiting https://www.governor.virginia.gov/rebuildva/.