LYNCHBURG, Va. (WFXR) — On Friday, the City of Lynchburg plans to reopen applications for the CARES Small Business Recovery Grant Program with new criteria to allow more businesses with either closed or restricted operations amid the pandemic to be eligible for financial assistance.
Starting Friday, Sept. 11, applications for the program are set to reopen with new eligibility criteria to reach more Lynchburg businesses with at least $50,000 but at most $5 million in annual gross revenues. According to officials, any retail businesses deemed “essential” by Gov. Northam’s Executive Order 53 are now eligible for the program, but they still need to prove they meet all other eligibility criteria.
The City of Lynchburg says the grants will range from $1,000 to $10,000 per business, but it depends on the number of full-time equivalent employees.
In addition, nonprofit organizations are also now eligible for the recovery program, with grant amounts ranging from $1,000 to $10,000 per organization based on the operating budget, revenue loss, number of employees, and audience served.
You can access the separate application and eligibility criteria for nonprofit organizations — which will reportedly be available by Monday, Sept. 14 — by clicking here.
Businesses and organizations are encouraged to review all eligibility requirements before submitting an online application, which is due by Sept. 25. However, officials say applicants are required to demonstrate and certify that they are eligible, that they were operational as of March 1, and that their business has been negatively impacted by the coronavirus pandemic.
“Our small businesses are the backbone of our community,” said Mayor Maryjane Dolan. “City Council is pleased that we could make this funding available to assist them during this stressful financial time. We understand that we must work together to remain Lynchburg Strong!”
In addition, the Office of Economic Development & Tourism has reportedly partnered with the Small Business Development Center – Lynchburg Region and Centra Health/PCHP/HealthWorks in order to offer wrap around services and support to businesses and organizations participating in the program, including one-on-one business counseling, industry specific training, and health and safety consultations.
“This has been an incredibly difficult time for all businesses in the City of Lynchburg,” said Marjette Upshur, Director of Economic Development & Tourism. “We are grateful that Lynchburg City Council has elected to allocate more than a quarter of the City’s total CARES funding to directly support small businesses in the City of Lynchburg. We stand with you during this difficult time.”
You can check out the application, as well as a full description of the program, by visiting www.opportunitylynchburg.com/cares.