The City of Buena Vista has established the Buena Vista Small Business Recovery Grant to support small business recovery following the pandemic. The grant program will be administered by Buena Vista Department of Community & Economic Development and the Economic Development Authority.
Buena Vista businesses meeting all of the following eligibility criteria are encouraged to apply:
- A business must demonstrate that they were operational pre-COVID-19 (March 1, 2020) and are realizing a direct negative impact from COVID.
- Must be an existing for-profit business located in Buena Vista
- Must be current on all fees, permits and taxes as of March 1, 2020
- Must have been in business for a minimum of one (1) year prior to grant application
- Must have at least one (1) employee and less than fifty (50) employees.
- Must possess a valid Buena Vista business license
- Must demonstrate impacts due to COVID-19, including revenue loss, reduced sales, closure or suspended operation, employment decline, business interruption
Grant funds must be expended in compliance with state and federal law. Funds may be used to re-imburse the cost of business interruption caused by required closures, which may include:
- Operations (i.e., payroll, rent, mortgage, supplies, utilities, working capital, insurance, etc.)
- Pivot to respond to new market conditions (i.e., develop or expand online sales/e-commerce, delivery or take out; develop new product line, etc.)
- Deep cleaning services, PPE, protective barriers, etc.
- Other critical operating expenses
Funds cannot be used to pay taxes, fees, or any other payments due to the city with the exception of water and sewer payments.
APPLICATIONS WILL BE ACCEPTED FROM WEDNESDAY, OCTOBER 14, 2020 UNTIL CLOSE OF BUSINESS ON FRIDAY, OCTOBER 30, 2020.
After the first round of grants, there is a remaining balance of $14,520. The EDA will administer a second round of grants following the process outlined below.
- The Grant Review Team shall meet the week of November 2, 2020.
- Applications shall be time and date stamped upon receipt and shall be reviewed on a first come, first served basis.
- The Grant Review Team shall assess the applications to ensure that the criteria of the Grant Program are met.
- Payments shall be distributed beginning the week of November 9, 2020.
Documentation required by applicant:
- Copy of City of Buena Vista 2020 Business License
- IRS Form W-9 Request for Taxpayer Identification Number and Certification
- Proof of monthly gross receipts history for the previous year through June 30, 2020
- Signed and completed application form
Completed applications may be emailed to firstname.lastname@example.org or mailed/dropped off at 2039 Sycamore Avenue.
The city is not responsible for late applications or any mishaps related to mailing of the application.
In response to the COVID-19 pandemic, the Governor of Virginia issued Executive Order 53 which, among other things, forced the closure of non-essential businesses in Buena Vista. The forced closure has severely impacted various retail, hospitality, entertainment, employment and administrative services, and travel-related businesses.
The City received funding from the Coronavirus Aid Relief and Economic Security (CARES) Act. The U.S. Department of Treasury guidance allows the CARES Act funds to be used for costs and expenses incurred because of the COVID-19 public health emergency, specifically mentioning the making of grants to small businesses.
A small business grant program will be the most efficient and effective way to distribute resources to small businesses in Buena Vista. The program can assist a small business with cash needed for working capital to support rent or mortgage payments, utility, payroll, e-commerce adjustments, personal protective equipment or other similar expenses that occur in the ordinary course of business.
With the oversight of the EDA, the Small Business Grant Review Team (the Grant Review Team) will administer the Grant Program. The Grant Review Team shall consist of two EDA members and one staff member. City Council has allocated $50,000 of the CARES Act funds received to this Grant Program.