The FAQs will be updated as additional questions are received. Please contact firstname.lastname@example.org with questions.
What is the CARES Act?
The Coronavirus Aid, Relief, and Economic Security Act is an economic relief package passed by Congress and subsequently signed into law on March 27th, 2020.
If I received funding, what do I need to document?
We recommend the following:
- Keep a copy of your application that certifies what you’ll spend the money on and the letter that we have mailed to your business.
- Make sure you notate the income as coming from the City of Lynchburg CARES program.
- Your normal business accounting (revenue, expenses) that you keep will reflect those eligible operating expenses.
What if I don’t have a business license or haven’t renewed for 2020? Can I still apply?
To be eligible, businesses must have been in business by March 1, 2020 and submit a current City of Lynchburg business license with their application.
How long will it take to receive a grant payment?
Round 1 and 2 applications will be reviewed after September 30, 2020. Round 3 applications will be reviewed after October 30, 2020. It will take 6-8 weeks to receive payment.
What if I have received other federal or state support through the CARES Act?
Businesses cannot receive funding from any other local, state, or federal assistance program for the same expenses for the same time period that they are requesting support from the City of Lynchburg. For example, businesses that received federal support from the Payroll Protection Program or Economic Injury Disaster Loan Emergency Advance must provide a copy of their application or forgiveness form and must certify that they will use grant funds for other uses. Grantees will be required to certify that grant funds are used for eligible expenses.
What is the time period that this funding applies to?
Qualified expenses can begin being counted as early as the issue of Executive Order 53, which was issued March 23, 2020, and go through the present. The above stipulations still apply that this money can not be used for the same expenses in the same time period as other local, state or federal funding.
What if I am a sole owner or co-owner and do not have any other full time employees?
The owner and/or co-owner/partners can be counted as full-time employees.
What if I was deemed ‘essential’ by Executive Order 53?
As long as you meet all other eligibility requirements, you may apply for the grant.
What if I already applied for the first Round of CARES funding during September 1-8, 2020 or the second round of funding ending September 30, 2020?
If you already applied, this is the same funding and you do not need to apply again.