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Montgomery County and the Towns of Blacksburg and Christiansburg have established a grant fund to support small business recovery in response to COVID-19. One-time grants of up to $27,500 are being provided to offset business impacts during the pandemic. The grant program will be administered by all three localities in partnership with the Montgomery County Chamber of Commerce, Downtown Blacksburg Inc., Downtown Christiansburg Inc., and the Blacksburg Partnership. Funding for the Small Business Recovery grant program is provided by the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act.
To be considered for funding, small businesses must meet specific eligibility criteria and provide required documentation. Businesses not eligible include banks and financial services, non-profits, franchise businesses (except those locally owned and operated) and businesses that are permanently closed or not currently in operation. Future recovery grant opportunities may be available for childcare centers and non-profit organizations.
There are a number of eligible grant uses, including but not limited to, payroll expenses, lease and mortgage payments, utilities, insurance, equipment purchases, and more. Expenses incurred before March 15; those reimbursed by other federal or state funds; or items not deemed ‘necessary’ are ineligible.