CHESAPEAKE SMALL BUSINESS COVID-19 RECOVERY GRANT INFORMATION

We love that word is spreading so quickly about our Small Business COVID-19 Recovery Grants!  As of Monday, April 5, the application window is open, and will close on June 1, 2021 at 11:59PM.  Unlike previous rounds, all businesses with 50 employees or less, are eligible for up to $12,500 in relief — including those that have received funding from the Paycheck Protection Program and Economic Injury Disaster Loan (EIDL). Our sole stipulation is that the grant must be used only on reimbursable business expenses dated on or after March 1, 2020. The purpose of this program is to assist for-profit businesses in Chesapeake, Virginia, that have been adversely impacted by the COVID-19 pandemic. Limited funds are available for this grant assistance program and only qualified applicants will receive funds. All applicants must submit certain financial information and all applications must be deemed complete before the Chesapeake Economic Development Authority (EDA) can fund any grant.

The EDA may also request additional information before finalizing its review. All applicants must further certify that the information provided below and submitted with this application is true and accurate. Please note that EDA funds for this program are available to the extent the EDA has authorized funding to support this program and may end the same at any time pursuant to its sole and absolute discretion. Grant awards will be based on reimbursable business expenses dated on or after March 1, 2020, for those that have met the following conditions

  1. Have made efforts to remain open and retain employees during the COVID-19 outbreak;
  2. Must have been a registered Chesapeake business since February 15, 2020; and
  3. Are current on City of Chesapeake taxes and have registered with the Commissioner of Revenue for 2020.

Grant funds must be used for operational working capital used to sustain the business and maintain employment. The grant funds will be issued on a reimbursement basis whereby the applicant can clearly demonstrate that expenses have been paid.