Governor Northam Announces Expansion of $70 Million Rebuild VA Grant Fund for Small Businesses, Nonprofits Impacted by COVID-19
Eligibility criteria expanded to include businesses that received federal CARES Act funds, supply chain partners affected by closures
RICHMOND—Governor Ralph Northam announces Rebuild VA, economic recovery fund launched in August, is expanding its eligibility criteria to allow more small businesses to apply. Businesses that received funding from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act and supply chain partners of businesses whose normal operations were impacted by the COVID-19 pandemic are now eligible to receive grants of up to $10,000. Businesses that have received federal funds 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.
Eligible businesses and nonprofits must demonstrate that their normal operations were limited by Governor Northam’s Executive Orders Fifty-Three or Fifty-Five, or that they were directly impacted by the closure of such businesses. Expanded business sectors are now eligible to apply for Rebuild VA grants. Businesses must certify that they have not received grant or loan dollars from federal, state, or local CARES Act funded programs, or if they have received CARES Act funding, that they will use the Rebuild VA grant only for recurring expenses. These businesses must also certify that the Rebuild VA funds will not be used to cover the same expenses as other CARES Act funds.
Rebuild VA still requires that businesses and nonprofit organizations must be in good standing, have annual gross revenues of no more than $1.5 million, and have no more than 25 employees.
Rebuild VA funding may be utilized for the following eligible expenses:
- 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;
- Employee salaries;
- 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, or other working capital needed to address COVID-19 response.
For additional information about Rebuild VA, expanded eligibility criteria, covered expenses, and how to submit an application, please visit governor.virginia.gov/RebuildVA.