RICHMOND—Governor Ralph Northam this week announced that Rebuild VA, the $70 million economic recovery fund launched in August, is expanding its eligibility criteria to allow more small businesses to apply. Businesses that received funding from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act and supply chain partners of businesses whose normal operations were impacted by the COVID-19 pandemic are now eligible to receive grants of up to $10,000.
Rebuild VA funding may be utilized for the following eligible expenses:
Payroll support, including paid sick, medical, or family leave, and costs related to the continuation of group health care benefits during those periods of leave;
- Employee salaries;
- Mortgage payments, rent, and utilities;
- Principal and interest payments for any business loans from national or state-chartered banking, savings and loan institutions, or credit unions, that were incurred before or during the emergency;
- Eligible personal protective equipment, cleaning and disinfecting materials, or other working capital needed to address COVID-19 response.