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, visitBusiness 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.
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.
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.
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.