County offers grants to small businesses
Prince Edward County has received a total of $1,989,387 from the federal government from the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
A second round of funding of $1,989,387 will be received in the near future. A committee consisting of representatives from the Prince Edward County Board of Supervisors, the Prince Edward County Industrial Development Authority, and the Town of Farmville, along with other stakeholders, has been formed to make recommendations on the allocation of funds. At this time, $100,000 has been allocated for the Prince Edward County CARES Act Small Business and Nonprofits Grant Program to be distributed by the Prince Edward County Industrial Development Authority. The primary purpose of the program is to provide immediate relief to small businesses and nonprofits impacted by the COVID-19 pandemic. The county hopes to help small businesses and nonprofits remain in business throughout the COVID-19 emergency and address gaps that may exist among complementary programs. If used to pay qualifying/ approved expenses, the grant will not have to be repaid.
Qualifications for a business to be eligible include the following:
• The business must be located in Prince Edward County (this includes the portion of the Town of Farmville that is located in Prince Edward County).
• The business must have no more than 50 full-time equivalent (FTE) employees.
• The business must have been operating on March 1, 2020 and have been negatively impacted by COVID-19.
• The business must have less than $2 million in annual revenue.
• The business must be committed to be fully operational after local and state emergency guidelines are rolled back.
Nonprofits must provide information about what they are requesting funding for — housing, food, Personal Protective Equipment (PPE), cleaning supplies and/or services and the amount of Prince Edward County residents served by their organization during specific time frames, among other information.
Businesses and nonprofits can apply online on the Prince Edward County website (www.co.prince-edward. va.us) or on the Town of Farmville website (www. farmvilleva.com). Those who are unable to apply online, should email email@example.com for a paper application.
All applications must be submitted no later than Aug. 24 to be eligible to receive funds in the first round of grants. Review of grants will begin the second week of August and grants could be awarded prior to the Aug. 24 deadline.
Additional funding may be made available by the Prince Edward County Board of Supervisors if the demand exceeds the funds initially provided. If businesses or nonprofits have any questions about the program, please contact Kate Pickett at kpickett@ co.prince-edward.va.us or (434) 391-4809.