In July, we shared that the Commonwealth would be launching a new grant program for small businesses and nonprofits called Rebuild VA. Governor Northam recently announced that Rebuild VA has expanded its eligibility criteria to allow more small businesses to apply. The application is open and available HERE.
Small supply chain partners of businesses forced to close under Executive Order 53 or 55, as well as businesses that received CARES Act funding, are now eligible to receive a $10,000 Rebuild VA grant. Businesses that have received CARES Act funding must certify that they will only use the Rebuild VA grant for recurring expenses and that the grant will not be used to cover the same expenses as the other CARES Act funds.
Funding can be used for:
- Payroll support
- Mortgage payments, rent, and utilities
- Principal and interest payments for any business loans from national or state-chartered banking, savings and loan institutions, or credit unions, that were incurred before or during the emergency
- Eligible personal protective equipment, cleaning and disinfecting materials
Administered by the Department of Small Business and Supplier Diversity (SBSD), Rebuild VA has received over 3,000 applications during its first month. The Governor decided to expand eligibility criteria after analysis by SBSD of eligible and ineligible applications received within the first 30 days of the launch.
More details about the program, including eligibility criteria, may be found at https://www.governor.virginia.gov/rebuildva/.