Virginia Invites Small Businesses and Nonprofits to Apply for Up to $100,000

Governor Ralph Northam today announced that Rebuild VA, a grant program to
help small businesses and nonprofit organizations affected by the COVID-19
pandemic, will expand eligibility criteria and increase the amount of
grant money businesses receive. Rebuild VA launched in August with $70
million from the federal Coronavirus Aid, Relief, and Economic Security
(CARES) Act. Governor Northam is directing an additional $30 million to
support the expansion of the program. Businesses with less than $10
million in gross revenue or fewer than 250 employees will be eligible
under the new criteria, and the maximum grant award will increase from
$10,000 to $100,000. “We started Rebuild VA to help small businesses and
nonprofit organizations navigate the impacts of the COVID-19 pandemic,”
said Governor Northam. “These changes to the program will ensure that we
can provide additional financial assistance to even more Virginians so
they can weather this public health crisis and emerge stronger.” Rebuild
VA will now be open to all types of Virginia small businesses that meet
size and other eligibility requirements, from restaurants and summer
camps, to farmers and retail shops. Businesses that previously received a
Rebuild VA grant will receive a second award correlated with the updated
guidelines. Rebuild VA is administered by the Department of Small Business
and Supplier Diversity (SBSD) in partnership with the Department of
Housing and Community Development and the Virginia Tourism Corporation,
and the Virginia Economic Development Partnership. Eligible businesses and
nonprofits must demonstrate that their normal operations were limited by
Governor Northam’s Executive Orders Fifty-Three or Fifty-Five, or that
they were directly impacted by the closure of such businesses. In
September, the program expanded eligibility to supply chain partners of
businesses whose normal operations were impacted by the pandemic. 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 how to submit an application, please
visit governor.virginia.gov/RebuildVA. Full Release ### Office of the
Governor, Commonwealth of Virginia | P.O. Box 1475, Richmond, VA 23218
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