Rebuild VA Grant Fund
The Rebuild VA Grant Fund is a program to help small businesses and nonprofits whose normal operations were disrupted by COVID-19. Businesses and non-profits that are approved for a Rebuild VA grant may receive up to 3 times their average monthly eligible expenses up to a maximum of $10,000. The Rebuild VA program has been capitalized with $70 million and will provide assistance to approximately 7,000 businesses and nonprofits. Half of the program funds will be distributed to eligible small businesses and nonprofits operating in low-income and economically disadvantaged communities, including ensuring there is an adequate representation of minority-owned and women-owned businesses.
The application is due August 10th, 2020. You can visit Governor.Virginia.gov/RebuildVA for more information.
The business or non-profit must be organized as one of the following:
- A corporation (C-Corp), pass-through entity (S-Corp, Partnership, LLC), or other legal entity that is organized separately from the owner;
- A 501(c)(3), 501(c)(7) or 501(c)(19) organization;
- A sole proprietorship; or
- An independent contractor
The business or non-profit must also fall within one of the following business categories:
- Restaurant and Beverage Services
- Non-essential Brick and Mortar
- Retail Fitness and Exercise Facilities
- Personal Care and Personal Grooming Service
- Entertainment and Public Amusement
- Private Campgrounds and Overnight Summer Camps
The business or non-profit must meet the following additional eligibility criteria:
- Principal Place of Business is in Virginia;
- 25 or fewer employees;
- Gross revenue of less than $1.5 million in the last fiscal year;
- Operating prior to March 12, 2020;
- Currently in good standing with the Virginia State Corporation Commission;
- The applicant must engage in legal activity.
The following expenses are eligible uses of the Rebuild VA grant funds (for expenses incurred between March 24, 2020 and present):
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
Applicants must include the following supporting documentation with their application:
- SCC Certificate of Good Standing;
- Incorporation documents for your business or non-profit;
- Current Owner Photo ID (e.g., VA Driver’s License, VA Real ID, Permanent Resident Card, Passport);
- Copies of 2019 Federal Income Tax Returns, and 2020 interim financial statement. If your 2019 Federal Income Tax Return has not been filed, a year-end profit-and-loss statement and balance sheet for 2019;
- Commonwealth of VA Substitute W-9 form;
- Documentation demonstrating qualifying salary or payroll; and
- Supporting expense documentation (mortgage statement, lease agreement, utility bills, invoices, etc.).
Again, this application is due on August 10th.
For AMR News, I’m Abby Dufour