The Town of Blacksburg has established a new round of grant funding to support business recovery in response to COVID-19. The application deadline is April 1 for one-time grants of up to $10,000.
This grant program is aimed at assisting those businesses most impacted by the COVID-19 pandemic. Businesses in the following sectors are eligible to apply: arts, entertainment, recreation; hotel and accommodations (except homestays such as Airbnb’s, VRBO); personal care (barber shop, nail salon, fitness); restaurant, food services (except grocery stores); retail.
Funds may be used to reimburse the cost of business interruption caused by the pandemic, which may include any of the following expenses made after Dec. 1, 2020: rent, lease or mortgage payments; payroll expenses, including wages or benefits; utilities (except town water and sewer); and personal protective equipment (masks, gloves, hand-sanitizer, cleaning supplies). The grant application will require applicants to submit documentation (receipts, invoices, and proof of payment) for eligible expenses.
This grant opportunity draws from two sources of federal funding intended to assist communities in dealing with the impacts of COVID-19. The Town of Blacksburg received a disbursement of Coronavirus Relief Fund (CRF) dollars from the Commonwealth of Virginia, for which U.S. Treasury guidance allows expenditures “related to the provision of grants to small businesses to reimburse the costs of business interruption caused by required closure.”
Additionally, the Department of Housing and Urban Development (HUD) has provided entitlement localities with a special Community Development Block Grant allocation of funds to “prevent, prepare for, and respond to coronavirus,” which can be used to assist small businesses that create or retain jobs during COVID-19.
Between these two sources the Town of Blacksburg has up to $600,000 available to distribute. To determine awards, the town will apply a standard formula based on the percentage and total revenue loss for each business as determined by comparing gross receipts from either the applicant’s 2019 and 2020 federal tax return or Business, Professional and Occupational License (BPOL) application.
Guidelines for the grant application are as follows:
For full details, and to complete the online grant application visit https://www.blacksburg.gov/smallbizrecovery2.
Complete the grant application by April 1, 2021
Submit receipts for eligible expenses incurred starting Dec. 1, 2020, up to the maximum award amount at the time of application. The grant maximum is $10,000.
Only one application per business establishment may be submitted.
Applications will be reviewed by a grant review committee and awarded at one time.
The applicants may be asked to provide additional information.