ln response to the economic hardships experienced by businesses resulting from the COVlD-19 pandemic, the City of Roanoke in partnership with Freedom First is launching a small business relief grant program utilizing Community Development Block Grant – Coronavirus (CDBG-CV) federal funding.
Donor Name: Freedom First Credit Union
State: Virginia
City: Roanoke
Type of Grant: Grant
Deadline (mm/dd/yyyy): 06/01/2022
Size of the Grant: $5,000 – $25,000
Details:
lt is a grant program created in response to microbusinesses that are at risk of closing or laying off employees due to COVID-19, and its goal is to keep businesses open and retain or create jobs.
Funding Information
- Minimum: $5,000.
- Maximum: $25,000 (Max $10,000 for retooling and technology activities related to COVID).
Eligibility Criteria
- Business must be located in the City of Roanoke
- At-home business must have a 2-year history in home
- Owner/applicant is a qualified Low or Moderate Income household
- The owner is 18 years or older
- Owner/Applicant is not currently in bankruptcy
- The owner must be current on all city taxes
- Has not already received prior CARES Act funding
- The business will have active liability insurance within 30 days
- Owner/applicant is only eligible for one grant per rolling 12 months
- CDBG-CV funds may not be used to duplicate other federal or state benefits
- Provides local or regional services, including those in the program’s areas of emphasis:
- restaurants/food service, professional services (i.e. legal, design, real estate),
- cultural & educational services,
- arts,
- recreation,
- retail,
- health practitioners, and
- personal care (i.e. beauty/barbershop, nail salon, dry cleaner, and more).
Microenterprise Assistance
- Five or fewer full-time employees including themselves
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Business must be owned at least 51% by an individual with a household income at or below 80% or the Area Median Income
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Must be able to demonstrate the impact that COVID -19 has had on their business
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Must be able to demonstrate the business will remain in operation after receiving the grant
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Must be able to commit to retaining, at a minimum, their current level of employees at the time of receiving the grant
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This means jobs made available to low/moderate-income persons are created or retained
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If a business applicant has laid off some or all employees, but reports they intend to hire once this crisis ends – this can be job retention
For more information, visit Small Business Relief Grant.
