TAZEWELL, VA (WOAY) – Today, the Tazewell County Board of Supervisors announced the expansion of assistance to small businesses with the launch of the Tazewell County Small Business Recovery Grant. The $250,000 allocation is part of more than $1 million dollars of funding for businesses during Phase III of the County’s CARES Act funding.
“Our small businesses are still seeing the economic impact of COVID-19 and this spring’s mandated shutdown. The County understands the important role our small businesses play in the success of our community and want to ensure they are given every possible opportunity to receive assistance” stated County Administrator Eric Young.
In order to qualify, businesses must have 25 or less employees and be physically located within Tazewell County. Qualifying applicants may receive $1,000 to $10,000 in funding to reimburse expenses associated with the economic devastation of COVID-19. This is a grant and funds do not have to be repaid, however documentation of expenses is required. Businesses receiving prior federal assistance are eligible but preference will be given to those yet to receive assistance. The grant will be administered by the Tazewell County Industrial Authority.
Chair of the Board, Charlie Stacy remarked “The board understands the considerable sacrifice small businesses have made during this pandemic. This funding is designed to help those still struggling to catch up on their mortgage, rent, utilities, payroll and the additional expense of purchasing personal protection equipment which was not a part of their initial budgets. We strongly encourage all eligible businesses to apply.”
Business owners may access the grant application through the Tazewell County website, tazewellcountyva.org or by picking up an application at the County Administration Building located at 197 Main Street, Tazewell. The application period for the Tazewell County Small Business Recovery Grant will open on Monday, September 28th and run until 4:30 pm on Monday, October 12th.
In addition to the Small Business Recovery Grant, the Board also announced $100,000 of loan forgiveness for more than 24 businesses who were approved in April by the Tazewell County Industrial Development Authority for zero interest loans. Recipients will receive notification via mail from the County’s Department of Economic Development.
Both initiatives are funded through the CARES Act which Tazewell County received an additional $3.41 million in August, making the County’s allocation just over $6.8 million to assist continued long term local response to the COVID-19 pandemic. Under U.S. Treasury guidelines, the funding must be used by December 30th and may not fill shortfalls in the government revenue.