In August, the City of Lynchburg launched the CARES Small Business Recovery Grant Program, a fund to provide financial assistance to businesses that have been affected by the COVID-19 pandemic. Applications for the program are still open with new eligibility criteria to reach more businesses in the City of Lynchburg. The final deadline to apply is October 30, 2020.
Please visit www.opportunitylynchburg.com/cares for the application and a full description of the program. Grant amounts will range from $5,000-$20,000 per business, depending on the number of full-time equivalent employees. If your business has already applied for funding through this program, you do not need to re-apply.
In order to be eligible, businesses must be physically located in the City of Lynchburg, in business and registered with the City as of March 1, 2020 and have no more than $5 million in annual gross revenues. Retail businesses deemed “essential” by the Governor’s Executive Order 53 are now eligible but will need to prove that they meet all other eligibility criteria.
Businesses that have received the Payroll Protection Program or funding from state or federal sources this year ARE eligible to apply for local support. The business will be asked to certify that local funds will be used for other qualifying expenses.
Nonprofit organizations are also eligible for the recovery program. Grant amounts for nonprofits will range from $5,000 to $15,000 per organization based on operating budget, revenue loss, number of employees and audience served. A separate application and eligibility criteria will be posted at www.opportunitylynchburg.com/cares.
Businesses and organizations should review all eligibility requirements and submit an online application by October 30, 2020. Applicants will be required to demonstrate and certify that they are eligible, that they were operational and registered with the City of Lynchburg as of March 1, 2020 and that they are suffering negative business impacts from COVID-19.
In addition, the Office of Economic Development & Tourism has partnered with the Small Business Development Center – Lynchburg Region and Centra Health/PCHP/HealthWorks to provide wrap around services and support to participating businesses and organizations, including opportunities for one-on-one business counseling, industry specific training and health and safety consultations.
Lynchburg City Council elected to use part of its allocation from the federal CARES Act to directly support small businesses in the City of Lynchburg. The program is administered by the Economic Development Authority of the City of Lynchburg and the Office of Economic Development & Tourism.
“Our small businesses are the backbone of our community,” said Mayor Mary Jane 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!”
“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.”