Chesterfield BiB Grant Program

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BiB GRANT PROGRAM

  • Application Process Starts on Monday, June 15th at 12 pm and ends Thursday, June 18th at 12 pm

  • Video Walk-through of Application Process Posted

  • Download a Sample of the Application Questions

  • Eligibility Criteria Posted Below

  • Terms and Conditions Posted Below

Back in Business Grant Program

At the direction of the Board of Supervisors, Chesterfield County, in partnership with the Chesterfield Chamber of Commerce, is launching the “Back in Business” grant program to support small businesses negatively affected by COVID-19.

The $10,000 grants are designed to provide immediate relief to businesses to help them remain in business through the COVID-19 pandemic and prepare for reopening under the guidelines of Forward Virginia.

The $5 million dollars, dedicated for the grant program, will come from the federal funding Chesterfield County received from the Coronavirus Aid, Relief and Economic Security (CARES) Act.

Applicants will be required to demonstrate that they are eligible, that they were operational pre-COVID-19, and that they are suffering negative impacts from COVID-19 closures.

The application process starts on Monday, June 15th at 12 pm and ends Thursday, June 18th at 12 pm. Details on the program, as they become available, can be found on this web page.

Eligibility Criteria

Criteria for eligibility have been finalized and the application process starts on Monday, June 15th at 12 noon and ends Thursday, June 18th at 12 noon. To be eligible for the grants a business:

  1. Must be a for-profit business entity with a place of business located in Chesterfield County;
  2. Must have been in business for a minimum of 2 years;
  3. Must have at least $200,000 but no more than $2 million in annual gross revenues;
  4. Must be able to demonstrate at least a 25% loss in revenue that can be attributed to COVID-19.

Franchises must be headquartered in Chesterfield County and are eligible for only one $10,000 grant regardless of the number of locations in the County.

Funds are meant to reimburse businesses for the costs of business interruption caused by required closures due to COVID-19. The grant can be used for:

  • Employee compensation (including wages and benefits)
  • Working capital
  • Equipment Inventory
  • Rent
  • Other business-critical operating expenses

Applicants will be required to demonstrate that they are eligible, that they were operational pre-COVID-19, and that they are suffering negative impacts from COVID-19 closures. Applicants will be asked to provide:

  1. Copies of 2 years of their most recent filed tax returns
  2. IRS W-9 Form
  3. A Financial Statement of Impact
  4. A 2020 Profit and Loss Statement

Terms and Conditions

At their March 27, 2020 meeting, the Chesterfield County Board of Supervisors approved $5 million dollars of the County’s Coronavirus Aid, Relief and Economic Security (CARES) Act funding to be earmarked for a grant program to support small businesses negatively affected by COVID-19. The grant program, “Back in Business” is a partnership with Chesterfield County and the Chesterfield Chamber of Commerce. The Chesterfield Economic Development Authority (EDA) will administer the grant program. Five Hundred $10,000 grants will be awarded to provide immediate relief to businesses to help them remain in business through the COVID-19 pandemic and prepare for reopening under the guidelines of Forward Virginia.

To be eligible for a grant a business:

  1. Must be a for-profit business entity with a place of business located in Chesterfield County;
  2. Must have been in business for a minimum of 2 years;
  3. Must have at least $200,000 but no more than $2 million in annual gross revenues;
  4. Must be able to demonstrate at least a 25% loss in revenue that can be attributed to COVID-19.

Franchises must be headquartered in Chesterfield County and are eligible for only one $10,000 grant regardless of the number of locations in the County.

Applications will be accepted from noon June 15, 2020, through noon on June 18, 2020. Grant recipients will be chosen by a random drawing of all eligible and certified applications on or around June 29, 2020. All applications and materials submitted will be public records and subject to the Freedom of Information Act (FOIA). Documents identified as proprietary are exempt under FOIA. Application for the grant constitutes an unconditional agreement to and acceptance of the Terms and Conditions. The Applicant is responsible for ensuring his or her familiarity with the Terms and Conditions.

By submitting an application, the Applicant certifies that it is not under any agreement or restriction that prohibits or restricts its ability to disclose or submit the materials included in the application or otherwise to apply for a grant.

Applicants acknowledge and agree that information submitted by Applicants will be used by the County, the Chamber, or the EDA in the promotion of the grant program and will be displayed on a public webpage(s) showcasing selected businesses.

Applicants certify that all answers submitted in the application are true and accurate and that funds will be expended to cover costs the business incurred as a result of closure due to COVID-19.

In consideration of the time, expertise and other resources provided by the County, the Chamber, and the EDA, the Applicant, to the full extent permitted by law, by submitting an application voluntarily releases the EDA and the County of Chesterfield from any and all claims, actions, damages, costs or liabilities of any kind relating to or arising from or in connection with the awarding of grant funds and shall hold the County, the Chamber and the EDA harmless from any claim arising from the applicant’s misuse of the grant funds.

More information about the program can be found at https://chesterfieldbusiness.com/bib/