Vermont Adds Higher Minimum to Grants for Especially Hard Hit Small Businesses

Date: August 19, 2020

Below is information from Vermont’s Agency of Commerce and Community Development about additional COVID-19 relief grant funding that is now available to small businesses. Even if a business already received some funds if they fall into certain hard-hit categories they may be eligible for an additional amount:

August 18, 2020 Governor Phil Scott announced an increase to the maximum grant award for Economic Recovery Grants for Vermont businesses negatively impacted by the COVID-19 pandemic. The increase in the maximum grant award is available to businesses in the lodging, retail, hospitality, arts, travel and event affiliated sectors that have continued capacity constraints. Previously, businesses could receive up to $50,000 in grant funds. Now, businesses in eligible industries can receive up to an additional $100,000 in grant funding, for a total of $150,000 from the program. The increased maximum award is available both to new applicants to the program and to those businesses that have already received a $50,000 grant. All businesses that received a $50,000 grant award from the Department of Taxes are eligible to request an increase to the new maximum award amount and can do so through myVTax starting August 18, 2020. Starting Monday, August 24, 2020 ACCD will be contacting eligible businesses that already received a $50,000 grant notifying that the supplemental grant funding may be available. If a business has not applied for a grant yet, you can still do so.

 

 

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