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
    • Startups
    • 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
    • 2022 Virginia Business Political Roundtable
    • 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
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 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
    • Startups
    • 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
    • 2022 Virginia Business Political Roundtable
    • 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
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News State’s Rebuild VA program allocated $100M to Va. small businesses

State’s Rebuild VA program allocated $100M to Va. small businesses

Grants were awarded to 2,500 businesses, nonprofits

Published December 9, 2020 by Kate Andrews

The state has awarded $100 million in grants to 2,500 Virginia businesses and nonprofits through its Rebuild VA economic recovery fund, Gov. Ralph Northam announced Wednesday. All available funds have now been fully committed, the governor said in a news release.

Approximately $50 million went to women, minority and veteran-owned businesses, and 997 small businesses and nonprofit organizations in low-income and economically disadvantaged areas received funding. To date, Rebuild VA has received 15,700 applications, and the average grant award was $35,636.

In late October, Northam announced an expansion of Rebuild VA, which was launched in August with $70 million in federal CARES Act funds. The state, which allocated an additional $30 million to the program in October, lifted the previous $10,000 cap to $100,000, and eligible applicants expanded to include summer camps and other businesses that were previously excluded. The state Department of Small Business and Supplier Diversity administers the Rebuild VA program

Along with the announcement, Northam called for Congress to pass another COVID-19 economic relief package to assist businesses and individuals before the end of the year. For months, the U.S. Senate and House of Representatives have been deadlocked over how much funding to commit to pandemic relief, as unemployment benefits run out for about 12 million people and evictions loom as a federal moratorium expires by the end of the year. This week, congressional talks toward a $916 billion relief bill proposed by the White House that included a one-time $600 direct payment but no federal unemployment supplement hit a wall.

“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,” Northam said in a statement. “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.”

Northam is set to give an update on Virginia’s COVID-19 pandemic Thursday. He said in an interview with CNBC a few days ago that further restrictions are on the table as rates of the coronavirus continue to rise. According to the Virginia Department of Health dashboard, the state recorded 4,398 new COVID cases on Tuesday, and the current seven-day positivity rate is 10.9%, a significant increase over the past two weeks.

Subscribe to Virginia Business.

Get our daily e-newsletter.

Related Stories

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

Northam commits additional $20M to economic recovery fund

Extra funding will aid 300+ small businesses and nonprofits

Virginia Business logo

Richmond extends deadline for small business, nonprofit relief program

Application deadline now Oct. 19

Virginia Business logo

Richmond launches 2nd grant program for small businesses

$2 million in $15,000 grants to be allocated

Trending

Norfolk’s MacArthur Center mall listed for sale

Making strides

Fort Monroe development moving forward

Danville lacks housing options for workforce

It’s back!

Sponsored Stories

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

Norfolk’s MacArthur Center mall listed for sale

Making strides

Fort Monroe development moving forward

Danville lacks housing options for workforce

It’s back!

Sponsored Stories

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

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 © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk