Eligibility criteria expanded to now include businesses which previously received CARES Act funds
RICHMOND-Governor Ralph Northam today announced that Rebuild VA, the $70 million 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.
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/