RICHMOND, Va. (WRIC) – Help is on the way for small businesses and non-profits impacted by COVID-19 through a new recovery fund called Rebuild VA.
The recovery fund has $70 million available for about 7,000 applicants across Virginia whose ‘normal operations were disrupted by the COVID-19 pandemic.’ Grants up to $10,000 will be available.
“Small businesses and nonprofits are the backbone of the Virginia economy and the bedrock of our communities, and they have been devastated by this ongoing health crisis,” said Governor Ralph Northam. “Rebuild VA will help address the vast challenges that small businesses and nonprofits across our Commonwealth are facing as they work to recover from the COVID-19 pandemic.”
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
The application and eligibility requirements can be found here.