$20 million more set aside for small businesses

Gov. Ralph Northam allocated an additional $20 million this week in federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to the Rebuild VA economic recovery fund to meet demand for the program and fulfill pending grant applications.

This new funding will bring the program total to $120 million and will enable more than 300 small business and nonprofit organizations that applied before the last round of funding was exhausted in early December to receive grants. Eligible applicants that are still in the pipeline have been notified via email that their applications have been re-opened.

Earlier this month, Gov. Northam announced that Rebuild VA had fully committed the $100 million in federal funds previously allocated to the program, which provided grants to 2,500 small businesses and nonprofits whose normal operations were disrupted by the COVID-19 pandemic. More than 45 percent of the available funding was awarded to nearly 1,000 small businesses and nonprofits located in low-income and economically disadvantaged communities and about $50 million was awarded to women, minority and veteran-owned businesses. To date, Rebuild VA has received nearly 20,000 applications and the average grant award was $35,636.

“Small businesses and nonprofits are among those hit hardest by the pandemic, and many are bracing for an uncertain few months ahead as the virus surges and we await the widespread availability of the vaccines,”  Northam said. “Virginia’s small business community remains diligent in protecting the health and safety of their employees and customers, and we must continue to support them in every way we can. With Congress finally acting on a long-overdue relief package, I am also grateful that Virginia businesses will now have another opportunity to apply for the Paycheck Protection Program in the near future.”

Administered by the Department of Small Business and Supplier Diversity (SBSD), Rebuild VA launched in August with $70 million in CARES Act funding. Gov. Northam directed an additional $30 million to the program in October and SBSD expanded eligibility so that businesses with less than $10 million in gross revenue or fewer than 250 employees could apply. 

“Getting these dollars to more small businesses and nonprofits that have been impacted by COVID-19 is a top priority for our administration,” Secretary of Commerce and Trade Brian Ball said. “The large number of applicants still in the pipeline for Rebuild VA funding demonstrates the tremendous need for this and additional financial support.”

Buckingham

Executive Order 31: How will Youngkin’s decision affect elections?

Education

Multiple Farmville students honored by colleges

Columns

Grateful Boomers return to Bald Knob

College

Longwood softball uses transfer portal, adds three signees

Buckingham

Heat index could reach triple digits. Here’s where to find cooling centers

Buckingham

VA Assembly changes law for farmers with unregistered vehicles

Columns

Mike Wilson: It all started with a Hampden-Sydney lecture

Buckingham

Buckingham supervisors say ‘wait and see’ on duplex question

Buckingham

Bob Good won’t concede in 5th District, calls for ‘a full investigation’

Lifestyles

Sorority takes part in tree planting ceremony

Celebrations

June Employee of the Month recognized

Cumberland

Will a speed study work in Cumberland near the courthouse?

Business

High Bridge Solar project gets decision from Farmville council

Celebrations

Glenn honored with Farm Award

Business

Farmville town council makes decision on land bank proposal

Buckingham

Gloria Witt gets strong support in 5th District Democrat primary

Local

Final order filed in Prince Edward County flagpole appeal

Business

McFarland Lane rental project gets approved by Prince Edward

Lifestyles

Past experiences ‘make me uniquely qualified’

Buckingham

5th District Republican primary results not expected to change

Farmville

Juneteenth celebrations start

Business

Piney Grove Solar project gets approval in Prince Edward

Buckingham

Are shops coming to New Canton? Supervisors approve plan

Buckingham

‘Kitchen sink’ approach continues after latest fatal Route 60 crash