Amherst County creates small business relief fund
$300K in grants will go to local companies
Amherst County launched a grant program for small businesses suffering economic downturns due to the coronavirus epidemic, the county announced Tuesday.
Amherst supervisors designated $300,000 in federal CARES Act funding, which will be administered by the county’s Economic Development Authority. Applications are being accepted now for locally owned, for-profit businesses in the county for payroll, rent, utilities, restarting expenses and marketing.
The grants include:
- Up to $25,000 for Amherst-owned and operated businesses with 21 employees or more
- Up to $10,000 for Amherst-owned and operated businesses with no more than 20 employees
- Up to $5,000 for businesses in the county that are not owned locally
Eligible businesses must have been in operation since March 1, 2019, with a physical location in the county. They must be current on taxes and have a current town or county business license if required. One owner must reside in the county to be defined as “locally owned.” Businesses also must have lost more than 10% in revenue compared to the same month or quarter as the previous year, and banks and financial institutions are not eligible.
Applications and more information are available at the EDA website.