NEW: Business Equity Fund Mini-Grant
The City of Charlottesville Office of Economic Development's Minority Business Program has allocated $35,000 for direct business support to 14 socially disadvantaged businesses. These mini grants are for existing City of Charlottesville businesses that are owned by individuals who are considered socially disadvantaged (i.e., those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as members of a group). Priority will be given to those who were not assisted financially from the Office of Economic Development in 2020. Eligible businesses are allowed to receive one mini grant to clear any unpaid fees, taxes, or loans acquired through the City of Charlottesville. If the business owner is current on the aforementioned list, they can use the mini grant for other pre-approved uses (e.g., rent, insurance, operating expenses, inventory, equipment, etc.). The $2,500 mini grant will be awarded after recipients complete a business training course and at least two one-on-one business consultations with the Central Virginia Small Business Development Center. Estimated training time is approximately five hours.
Applications are now being accepted online. The deadline for the Business Equity Fund Mini-Grant is Friday, January 22nd at 5pm.
NEW: Governor Expands Rebuild VA Grant Fund
Governor Ralph Northam announced that Rebuild VA, a grant program to help small businesses and nonprofit organizations affected by the COVID-19 pandemic, will expand eligibility criteria and increase the amount of grant money businesses receive. Businesses with less than $10 million in gross revenue or fewer than 250 employees will be eligible under the new criteria, and the maximum grant award will increase from $10,000 to $100,000. Rebuild VA will now be open to all types of Virginia small businesses that meet size and other eligibility requirements, from restaurants and summer camps, to farmers and retail shops. Businesses that previously received a Rebuild VA grant will receive a second award correlated with the updated guidelines.
For more information and to start your application please visit Rebuild VA . OED encourages all qualifying city businesses in need to make application. If you have questions or need assistance please let us know.
City Delivers $750,000 in Relief to Small Businesses
The City of Charlottesville Office of Economic Development (OED) is pleased to announce that 128 small businesses have received funds from the Small Business Relief Grant (SBRG) program. The full list can be found at the Small Business Relief Grant link.
Phase Three All Business Sectors
Governor Northam announced Phase Three guidelines for all Business Sectors. Read about the Governor’s Safer at Home: Phase Three for more information.
Project Rebound, a local economic recovery initiative for our area, recently released "A Blueprint for Economic Resiliency and Reinvention in Greater Charlottesville Region". The report, produced by KPMG LLP, maps out economic recovery action steps for the business community. The recommended actions are based on data from stakeholder meetings and followup interviews with more than 300 local participants. The project was led by the Charlottesville Regional Chamber of Commerce with support from the City, County and University economic development efforts. Click to see the full Blueprint report.
SBA Disaster Assistance
The Small Business Administration (SBA) has reopened the Economic Injury Disaster Loan and EIDL Advance program portal to further meet the needs of small businesses impacted by COVID-19. See the SBA Disaster Assistance website for all the details and to apply.
Links to Assistance for Businesses During COVID-19
- Small Business Owners Guide to CARES Act (PDF) - Assistance for business owners with whatever needs they have right now.
- VA 30 Day Fund is rolling out Forgivable Loans for Virginia Small Businesses.
- US SBA COVID-19 business assistance. The Commonwealth of Virginia is now officially listed and classified as an "eligible" area. We encourage City of Charlottesville businesses interested in submitting an application for financing the SBA’s Coronavirus (COVID-19) Disaster Assistance Program to begin completing the application. The number assigned to the State of Virginia for the emergency declaration is VA-00087. General guidance on the SBA Disaster Loan process (PDF)
- For information on unemployment and other business needs, visit the Virginia Employment Commission. The Governor has waived the on-week waiting period so that workers can start receiving benefits right away.
- Updates from Virginia Department of Health (including some info for business).
- Tory Burch Foundation has a useful list of resources (for both finding and advice) for small businesses.
- VA 30 Day Fund is rolling out Forgivable Loans for Virginia Small Businesses
- The VA Small Business Development Center (SBDC) has published new information on financial assistance for small businesses and how to apply for a Federal Disaster loan.
- SBA Disaster Assistance Loan. Facebook Social Network
- Charlottesville restaurants and stores currently "open" for business: CVILLESHOPS
For the most up-to-date information, be sure to follow us on social media or sign up for updates.
The Office of Economic Development is the catalyst for public and private initiatives that create employment opportunities and a vibrant and sustainable economy.
Charlottesville Voted the Best Place to Live in America, Best Place to Retire, Best Green City, Best Digital City, Best Place to Start a Small Business, the Healthiest City and the list continues!