Virginia Gov. Ralph Northam has decided to expand the qualification criteria for Rebuild VA, the state’s $70 million coronavirus recovery fund, to help more small businesses and nonprofits receive grants.
Small businesses and nonprofits presently getting funds through the CARES Act and supply chain partners affected by coronavirus-related closures can now receive additional grants up to $10,000 through Rebuild VA, WTOP reported Tuesday.
However, in order to get the additional funds, business receiving federal funds must certify they will only use the Rebuild VA grant for recurring expenses, and it will not be used to cover the same expenses as other CARES Act funds. The receiving entities are required to be in good standing, possess annual gross revenues of no more than $1.5 million and have no more than 25 workers.
The governor’s changes extend to such businesses as bed-and-breakfasts and lodging facilities in addition to film companies.
“When we initially launched Rebuild VA, we focused on reaching the small businesses and nonprofit organizations most in need,” Northam said, WTOP reported. “I am deeply grateful for the work of our state agencies to swiftly adjust the parameters of this program so we can assist more Virginia businesses as they weather this health crisis and build back stronger.”