Gov. Northam launches “Rebuild VA” recovery fund, $70 million in grants to be made available to small businesses, non-profits

Virginia Governor Ralph Northam has announced that $70 million in grants will be made available to small businesses and non-profits who’s normal operations were disrupted by COVID-19.

The “Rebuild VA” initiative is a state recovery fund that will distribute grants of of up to $10,000 to nearly 7,000 applicants which can be used to help cover eligible expenses.

In order to receive a grant, businesses and non-profits must be in good standing, have gross annual revenues of no more than $1.5 million, and have no more than 25 employees. Eligible businesses and non-profits include the following: food and beverage establishments, non-essential retail, exercise and fitness, entertainment and public amusement, personal care and personal grooming services, and private campground and overnight summer camps.

The eligible businesses must also certify that they have not received any federal Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) funds or other funding from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.

According to a release from Gov. Northam’s Office, the 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.

Businesses can start applying August 10th.