Small Business Grants Available for COVID-19 Impacted Businesses

Community Investment Collaborative (CIC) – Business Recovery Fund

The Business Recovery Fund is a microloan to help existing businesses in the City of Charlottesville and Albemarle County recover from COVID-19 related set backs. Loans of up to $10,000, payable at 1% interest over 3 years, are offered. Some restrictions are that the funds cannot be used for existing debt, purchasing equipment or real property. For more information and to apply, visit Business Recovery Fund on CIC’s website.

CARES Act: $2 trillion in aid to employers and employees

What financial aid is available to help you sustain my business?                                               

The programs and initiatives in the just-passed $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, are intended to assist business owners with whatever needs you have right now. When implemented, there will be many new resources available for small businesses, as well as certain nonprofits and other employers.

One of the CARES Act’s primary benefits to small business owners is the Payroll Protection Program (PPP) SBA loan. The PPP SBA loan program funded by CARES would provide your business cash-flow assistance through 100% federally guaranteed loans to retain your employees and maintain your payroll during this emergency.

Importantly, if you maintain your payroll, the loans will be forgiven – you would NOT need to repay the payroll expense portion of your loan. This will help your workers remain employed, as well as help your businesses and our economy snap-back quicker after the crisis.

PPP has a host of attractive features, such as forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees and at least six months of deferral with maximum deferrals of up to a year. Small businesses and other eligible entities will be able to apply if you were harmed by COVID-19 between February 15, 2020 and June 30, 2020. This program is retroactive to February 15, 2020, in order to help bring workers who may have already been laid off back onto payrolls. Loans are available through June 30, 2020.

Does my business qualify?                                                                                                             

The following requirements apply to qualify for the PPP SBA loan under CARES:

  • Businesses and entities must have been in operation on February 15, 2020
  • The business or entity must have been harmed by COVID-19 between February 15, 2020 and June 30, 2020
  • Small business concerns, as well as any business concern, a 501(c)(3) nonprofit organization, a 501(c)(19) veterans organization, or
  • Tribal business concern described in section 31(b)(2)(C) that has fewer than 500 employees or fewer employees than established by the relevant industry code
  • Any business concern that employs 500 employees or less per physical location of the business concern
  • Individuals who operate a sole proprietorship, or as an independent contractor and eligible self-employed individuals

New SBA Website!

The SBA launched a new website to help with Economic Injury Disaster Loans (EIDL). Please visit this site if you previously submitted, or would like to submit a new application. At the end of the application there is a box you can check to receive a $10,000 grant to arrive within 3 business days. If you are awarded this grant, you do not have to pay it back. For a video tutorial for how to apply, click here.

Additional SBA relief options can be found here.

Virginia 30 Day Fund

The non-profit Virginia 30 Day Fund provides forgivable loans for Virginia-based small businesses. More more information, visit VA30DayFund.com.

City of Charlottesville Offers Assitance to Local Businesses Impacted by COVID-19

Charlottesville city businesses impacted by COVID-19 have new opportunities to seek relief. For more information, view the Press Release.

Federal Refundable Payroll Tax Credits

The Deparments of Labor and Treasury, and the IRS announced refundable payroll tax credits designed to reimburse small and mid-size businesses for the cost of providing Coronavirus-related family and medical leave and sick leave to their employees. Click here to see the Press Release and details.

Truist – NCIFund COVID-19 Grants

Grants available from $5,000 to $25,000 to businesses with 10 full time employees or fewer that were operational after August 1, 2019. For more information visit NICFund COVID-19 Grants.

Unemployment Insurance (UI) Information

Important Information for Unemployment Insurance

If you have filed an unemployment insurance application (UI), you must then file a weekly claim for each week or you will NOT be paid! VEC recommends you do this on Sunday, Monday, or Tuesday of each week if you remain unemployed and want to be paid for the prior week.

You can complete and submit your weekly UI payment request by calling 1-800-897-5630. You can also find more information by visiting our website at vec.virginia.gov.

Virginia Rent and Mortgage Relief Program (RMRP)

Click here for details regarding the Virginia Rent and Mortgage Relief Program that offers financial assistance for rent and mortgage payments on behalf of households experiencing financial instability due to the pandemic.

Charlottesville City’s Housing RELIEF Fund

Charlottesville City’s Housing RELIEF Fund is now available. The Fund provides short-term financial assistance in the form of rent payments to tenants and landlords in the City of Charlottesville who have been impacted by COVID-19.

The program focuses on providing assistance to the following groups:

1.       Individuals residing in the City who were recently released from a correctional institution (from December 2019 to present).

2.       Individuals and households in the City that are experiencing homelessness, and more specifically, households with children under the age of 18.

3.       Landlords who have rental tenants that reside in the City and are at risk of experiencing homelessness due to nonpayment of rent as a result of the COVID-19 pandemic.

Fund prioritization, which is based on household income, is as follows:

  • Monday, July 13th to Friday, July 24th – Households with a Gross Household Income at or below 50% of AMI
  • Monday, July 27th to Friday, July 31st – Households with a Gross Household Income at or below 51% to 60% of AMI
  • Monday, August 3rd – Households with a Gross Household Income at or below 61% to 80% of AMI

Please note that regardless of household income, an individual can apply at any time. However, if the gross household income is above 50% of AMI, the person will not be eligible for funding until the above mentioned dates. If you need this assistance or know of anyone who does, please share the application links below.

Tenant Application – https://www.surveymonkey.com/r/housingrelieftenant

Landlord Application – https://www.surveymonkey.com/r/housingrelieflandlord

For those needing assistance with the application, please call us at 434-970-3933 to schedule an appointment. If you have questions or need additional information, please contact the Downtown Job Center at jobcenter@charlottesville.gov or 434-970-3933.

Families First Coronavirus Response Act (FFCRA): Paid Leave temporary rule

The FFCRA, signed into law on March 18, 2020, responds to the coronavirus outbreak by providing paid sick leave and free coronavirus testing, expanding food assistance and unemployment benefits, and requiring employers to provide additional protections for health care workers. Effective April 1, 2020, the Department of Labor’s Wage and Hour Division (WHD) posted a temporary rule issuing paid leave regulations. For more information, visit the DOL’s pandemic webpage.

Coronavirus (COVID-19) in Virginia

Visit the Commonwealth of Virginia’s COVID-19 Response page for updates.

Regional Employment Opportunities During COVID-19 Outbreak

Click here for Immediate Job Openings in Charlottesville area

Companies Hiring – List maintained by Culpeper Workforce Center (Google Doc)

Companies Hiring – List maintained by Charlottesville Workforce Center (Google Doc)

Virtual Job options

Indeed.com – Charlottesville

Virginia Employment Commission – JOBS

From the Governor

COVID-19 FAQ for Workers

Work and Training Services – Goodwill

Our regional Goodwill offers workforce training, unemployment support, career coaching, and job search assistance. You can now access their services virtually at Goodwill Industries of the Valleys – Virtual Services.