On Oct. 28, 2020, Governor Ralph Northam of Virginia announced the expansion of eligibility criteria and increased available funding for small businesses and non-profits who apply for the Rebuild VA Grant (the Grant). The Grant was originally announced in August 2020 with $70 million in available funding via the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The new announcement from Governor Northam has increased the available funding by an additional $30 million for a total of $100 million in available funding.
Under the new criteria, businesses with less than $10 million in gross revenue or fewer than 250 full-time employees are eligible to apply for the Grant with a maximum Grant award of $100,000. Previously, a business needed to have annual gross revenues of no more than $1.5 million and have no more than 25 employees and the maximum Grant award was $10,000.
The Grant application requires eligible businesses and non-profits to prove their normal operations were limited and directly impacted by closures as a result of Virginia Executive Orders Fifty-Three or Fifty-Five that limited business operations at the start of the pandemic.
Funding for the Grant may be used for any of the following:
- Payroll support;
- Employee salaries;
- Mortgage payments, rent and utilities;
- Principal and interest payments for business loans that were in place before or during the COVID-19 pandemic; and,
- Materials and equipment needed to address COVID-19 related response, including personal protective equipment, cleaning supplies or other working capital.
The expansion of the Grant program will increase availability to all types of small businesses and non-profits in Virginia that meet the eligibility requirements. In addition, any businesses who previously received funding from the Grant under the former criteria can receive additional funding that meets the $100,000 limit per entity.
Small businesses and non-profits in Virginia who did not previously meet the former requirements for the Grant should consider submitting an application to take advantage of available funds. Additionally, applicants who received CARES Act funding (including Paycheck Protection Program (PPP), Economic Injury Disaster Loans (EIDL) or other pandemic relief) are now eligible for the Grant on the operating expenses listed above but would have to exclude the COVID-19 related response expenses.
For more information about the Rebuild VA Grant or for questions regarding application submission, please reach out to us at firstname.lastname@example.org.