In our continuing efforts to assist businesses grappling with the financial impact of COVID-19, the City of Salem Economic Development Authority (EDA), has established a $500,000 Grant Fund. One-time grants of up to $5,000 are intended to support small businesses in their recovery from the impacts of the pandemic.
The U.S. Treasury guidance allows states to use Coronavirus Relief Fund (CRF) dollars for expenditures “related to the provision of grants to small businesses to reimburse the costs of business interruption caused by required closure.” The Commonwealth of Virginia has elected to disperse a portion of its allocation to local governments. Salem City Council has elected to use part of its allocation to help preserve small business throughout Salem by providing grants to eligible businesses.
ELIGIBLE GRANT USES
Grant funds must be expended in compliance with state and federal law. Funds may be used to reimburse the cost of business interruption caused by required closures, which may include:
- Operations (i.e., payroll, rent, supplies, 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.)
- Equipment and inventory purchases
- Rent or mortgage expenses
- Deep cleaning services, PPE, protective barriers, etc.
- Other critical operating expenses
CLICK HERE to download the EDA COVID-19 Disaster Assistance Grant Fund Application. This downloadable and fillable PDF file can be saved and submitted by email to firstname.lastname@example.org or a printed copy can be submitted at City Hall inside the Utility Drop Box on College Alley.
For More Information contact Salem Economic Development at email@example.com or at 540-375-3007