Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Advertisement

Header Primary Menu

  • Issues
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Home News State launches $70M fund for small businesses, nonprofits

State launches $70M fund for small businesses, nonprofits

Rebuild VA fund will allocate $10,000 grants to 7,000 recipients

Published July 27, 2020 by Kate Andrews

Gov. Ralph Northam has committed an additional $20 million to an economic recovery fund.
Gov. Ralph Northam has committed an additional $20 million to an economic recovery fund.

As businesses and nonprofits continue to encounter hard times, Gov. Ralph Northam announced Monday a $70 million COVID-19 relief fund for small businesses and nonprofit organizations.

Called Rebuild VA, the fund will allocate grants of up to $10,000 to about 7,000 applicants, Northam’s office said in a news release. The money comes from federal CARES Act funding, and the program will be administered by Virginia’s Department of Small Business and Supplier Diversity (SBSD).

Eligible businesses and nonprofits must have annual gross revenues of no more than $1.5 million and employ no more than 25 people, and they must not have received Paycheck Protection Program, Economic Injury Disaster Loan or any other federal funding related to pandemic relief. They must also have a State Corporation Commission certificate of good standing.

Half of the fund will be distributed to businesses and organizations in lower-income areas, the governor said in the announcement. Applications will open Aug. 10, and SBSD will hold several webinars to review eligibility and documentation requirements.

Among the qualified industries are: food and beverage establishments, nonessential retail, exercise and fitness, entertainment and amusement parks, personal care and grooming businesses, private campgrounds and summer camps — all businesses that have been shut down at least partially by executive order since March. Eligible expenses include: payroll, health insurance, salaries, mortgage and rent, principal and interest payments for business loans, and all cleaning and personal protective equipment needed for COVID-19 response.

Full information is here.

 

Subscribe to Virginia Business.

Get our daily e-newsletter.

Related Stories

Virginia Business logo

Loudoun County announces $1M small-business relief fund

Applications open April 29 for $7,500 and $10,000 grants.

Reopening: Too early, or not soon enough?

As COVID-19 cases rise and economy declines, governor eyes easing business restrictions

Roanoke County launches small business relief grants

Applicants can receive up to $10K in funding

Trending

35 Va. companies make 2022 Fortune 1000 list

255-apartment complex coming to Suffolk

78-unit apartment complex planned for Petersburg

Capital One to reopen offices in September

Metro CEO, COO resign, effective immediately

Sponsored Stories

The Lowdown on Downloads for Your Online Experience

5 Benefits of Treasury Management Services from Atlantic Union Bank

Creating An Urban Destination in Chesapeake

Advertisement

Advertisement

Trending

35 Va. companies make 2022 Fortune 1000 list

255-apartment complex coming to Suffolk

78-unit apartment complex planned for Petersburg

Capital One to reopen offices in September

Metro CEO, COO resign, effective immediately

Sponsored Stories

The Lowdown on Downloads for Your Online Experience

5 Benefits of Treasury Management Services from Atlantic Union Bank

Creating An Urban Destination in Chesapeake

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2022 Virginia Business. All rights reserved.

Site Maintained by TechArk