Chesterfield County Announces $5M for “Back in Business” Grant Program
At the direction of the Board of Supervisors, Chesterfield County, in partnership with the Chesterfield Chamber of Commerce, is launching “Back in Business” grants to support small businesses negatively affected by COVID-19. The $10,000 grants are designed to provide immediate relief to businesses to help them remain in business through the COVID-19 pandemic and prepare for reopening under the guidelines of Forward Virginia. The $5 million dollars, dedicated for the grant program, will come from the federal funding Chesterfield County received from the Coronavirus Aid, Relief and Economic Security (CARES) Act.
Small businesses are a critical component of Chesterfield’s economy. They are typically an important source of job creation, spurring innovation and competition and driving productivity and growth. These businesses have been hit especially hard by the crisis, as they often have fewer resources to draw on during a slowdown. The “Back in Business” grants hope to address the funding gaps these businesses may have experienced with other assistance programs through the COVID-19 emergency.
Applicants will be required to demonstrate that they are eligible, that they were operational pre-COVID-19, and that they are suffering negative impacts from COVID-19 closures.
Final eligibility criteria for the program and the application process is expected to be confirmed by the end of May and applications are anticipated to be open in early June. Details on the program, as they become available, can be found at www.chesterfieldbusiness.com/bib.