|Restaurants that had to ban indoor dining due to the pandemic might want to consider applying for a new state grant program.|
The application period opens Aug. 10.
Business owners can apply for grants of up to three times their average monthly eligible expenses for a maximum of $10,000.
Eligible businesses must be in good standing, have annual gross revenues of no more than $1.5 million, and have no more than 25 employees who live in Virginia.
The program is restricted to businesses that have not received federal Paycheck Protection Program or Economic Injury Disaster Loan funds or other funding from the federal Coronavirus Aid, Relief and Economic Security (CARES) Act.
The program is available to businesses and nonprofits involved with food and beverages, non-essential brick-and-mortar retail, exercise and fitness, entertainment, personal care and grooming services, and private campground and overnight summer camps.
The grants can be used for
- Employee salaries.
- Payroll support, including paid sick, medical, or family leave, and costs related to the continuation of group health care benefits during those periods of leave.
- Mortgage payments, rent, and utilities.
- Principal and interest payments for business loans from banks, savings and loan institutions, or credit unions that were incurred before or during the pandemic.
- Eligible personal protective equipment, cleaning and disinfecting materials, or other working capital needed to address the COVID-19 response.
Rebuild VA is expected to assist 7,000 businesses and nonprofits. Half of the funds will be distributed to eligible small businesses and nonprofits operating in low-income and economically disadvantaged communities. The program is administered by the Virginia Department of Small Business and Supplier Diversity.
For more information about Rebuild VA, including a video and links to register for webinars at 9 a.m. and 5:30 p.m. on Aug. 4, click here.