Lynchburg region grants now available
Lynchburg region grants now available
Yesterday August 17, the Bedford County Office of Economic Development launched a $1 million Back to Business Grant Program to assist Bedford County businesses that have experienced losses from COVID-19 closures and late last week the City of Lynchburg announced their CARES Small Business Recovery Grant Program, a fund to provide financial assistance to businesses whose operations were either closed or restricted by the Commonwealth of Virginia in response to the COVID-19 pandemic. With these announcements there are now CARES Act grant funds available in Amherst, Bedford, and Campbell Counties, as well as the City of Lynchburg. Below is an overview of each and how to apply!
Amherst
Amherst County has two grants for local businesses – the CARES Act Small Business Grant and the Back in Business CDBG Grant – and both use federal funds that have specific guidelines. Many guidelines are the same, but there are some differences. Please carefully read through each set of grant guidelines to see if your business may qualify for one or both of the grants.
Compare the two grants and apply here.
Bedford
The Bedford County Office of Economic Development launched a $1 million Back to Business Grant Program on Monday, August 17, 2020, to assist Bedford County businesses that have experienced losses from COVID-19 closures. The grants will be $5,000 each and provided to eligible small businesses on a first-come, first-served basis through September 18, 2020, or until funds are depleted. The program is funded through the federal CARES Act. The program is geared to “for profit” businesses with 2019 revenues between $50,000 - $3 million and that can demonstrate at least a 20 percent loss in revenues since March 1, 2020.
Read the full list of criteria and apply here.
Campbell
The Campbell County Board of Supervisors has earmarked $1M in federally-issued CARES Act funds to offer as reimbursement grants for local businesses that incurred expenses related to COVID-19. Campbell County businesses who meet eligibility criteria may apply for up to $5,000 in reimbursement funds via an online grant application. Requests for grant awards over $5,000 will be considered on a case-by-case basis contingent on documentation of adverse impact and need.
Learn more here and apply here.
City of Lynchburg
Lynchburg City Council has elected to use part of its allocation to directly support small businesses in the City of Lynchburg. The program is administered by the Economic Development Authority of the City of Lynchburg and the Office of Economic Development & Tourism. Applications will open September 1, 2020. Grant amounts will range from $1,000-$10,000 per business, depending on the number of full-time equivalent employees. Businesses must meet all eligibility requirements and submit an online application by September 8, 2020. Applicants will be required to demonstrate and certify that they are eligible, that they were operational as of March 1, 2020 and that they are suffering negative business impacts from COVID-19.
Read more and apply here.
The Office of Economic Development & Tourism will host a “how to apply” webinar on Wednesday, August 26 at noon. Registration materials will be available here. In addition, the Office of Economic Development & Tourism has partnered with the Small Business Development Center – Lynchburg Region and Centra Health/PCHP/HealthWorks to provide wrap around services and support to participating businesses, including opportunities for one-on-one business counseling, industry specific training and health and safety consultations. Businesses will be able to opt-in to these services in the program application.
Other Information
In addition to these regional grants there are other programs that may be helpful to Lynchburg region businesses:
