~ Governor Northam urges Congress to quickly pass a bipartisan COVID-19 relief package so Virginia can continue program ~

RICHMOND—Governor Ralph Northam today announced that the $100 million Rebuild VA economic recovery fund has awarded grants to 2,500 Virginia businesses and nonprofits whose normal operations were disrupted by the COVID-19 pandemic. All available funding for Rebuild VA has been fully committed, and Governor Northam is again calling on Congress to take swift action and pass a new relief package that delivers substantial aid to businesses and families by the end of the year.

Approximately $50 million was awarded to women, minority, and
veteran-owned businesses. More than 45 percent of the funding was awarded to 997 small businesses and nonprofits located in low-income and
economically disadvantaged communities, and businesses with less than $2
million in annual revenue received 91 percent of the program’s funding. To
date, Rebuild VA has received 15,700 applications and the average grant
award was $35,636.

“Rebuild VA has been a critical lifeline for thousands of small businesses
and nonprofits that are grappling with the ongoing public health crisis
and the resulting economic fallout,” said Governor Northam. “Federal
support was vital to establishing this program and mitigating the impacts
of the pandemic on our economy, but we continue to face tremendous
challenges with the virus surging across our country. Now, Congress must
come together and quickly pass a bipartisan relief package that includes
additional support for struggling families and businesses.”

Rebuild VA, which is administered by the Department of Small Business and Supplier Diversity (SBSD), launched in August with an initial $70 million from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. In October, Governor Northam directed an additional $30 million in CARES Act dollars to expand the program.

“This funding reached every corner of Virginia, and we are hopeful
Congress will work together this week so we can help more small businesses get back on their feet,” said Secretary of Commerce and Trade Brian Ball. “I commend the entire team at SBSD for its around-the-clock efforts to help get Rebuild VA funding deployed as quickly as possible to small businesses and nonprofits.”

“The amazing stories behind these grant awards is where you will find the
resilience of the small business community and the true impact of this
funding on the businesses, families, and employees in the communities we
serve,” said Tracey G. Wiley, Director of the Department of Small Business
and Supplier Diversity. “We thank the Administration for elevating this
initiative during the pandemic and we remain committed to working with our partners to meet the demand for this program and provide businesses with the aid they need to carry on.”