CHANTILLY, Va. (WDVM) — Small businesses and nonprofit organizations who were affected by the COVID-19 pandemic are getting the help they need under new funding.
Governor Northam announced $70 million will go towards small businesses and nonprofit organizations in the state. The funding will be made available through Rebuild Va, a new economic recovery fund. Grants of up to $10,000 will be awarded to approximately 7,000 applicants to cover expenses, according to Northam.
He said, “Small businesses and non profits are the backbone of the Virginia economy and the bedrock of our communities and they have been devastated by this ongoing health crisis.”
According to officials, in an effort to accomplish the Northam administration’s objectives for diversity, equity, and inclusion, half of the program funds will be distributed to eligible small businesses and nonprofits operating in low-income and economically disadvantaged communities. This will help to meet the needs of underserved businesses and nonprofits with broad geographic diversity, while ensuring there is adequate representation of minority- and women-owned businesses.
SBSD will hold several webinars to review eligibility requirements and documentation needed to apply when the application opens on August 10, 2020.
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