Governor Ralph Northam announced $70 million for small businesses and nonprofit organizations whose normal operations were disrupted by the COVID-19 pandemic. The funding will be made available through Rebuild VA, a new economic recovery fund, and grants of up to $10,000 will be awarded to approximately 7,000 applicants to cover eligible expenses.
Rebuild VA will be administered by the Department of Small Business and Supplier Diversity (SBSD). Businesses and nonprofits must be in good standing, have annual gross revenues of no more than $1.5 million, and have no more than 25 employees. Eligible businesses and nonprofits include 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. Businesses must also certify that they have not received federal Paycheck Protection Program (PPP) or Economic Injury Disaster Loan (EIDL) funds or other federal funding from the Coronavirus Aid, Relief, and Economic Security (CARES) Act.